Sometimes a person may need a small loan for some minor but important expense. For example, to top up your mobile phone balance if you don’t have cash on hand. Some microfinance and microcredit companies offer to borrow even such a small amount. To apply for a loan, just leave an application on the IFC or MCC website. On this page we have collected all the companies where you can borrow from $100. When choosing, consider the amount and term, interest rate, requirements for borrowers and other conditions.
Advantages
A loan for a small amount is quickly issued and transferred in any convenient way – for example, to a bank card
A small loan amount can be easily repaid at the end of the term along with interest
Flaws
The smaller the loan amount, the higher the interest rate on it
Most companies have a minimum loan amount of more than one hundred dollars.
What is an unsecured loan?
An unsecured loan is an agreement under which a microfinance company provides money to a borrower for a specified period at interest or zero interest without guarantee or property as collateral. These loans are unsecured for the lender, so the maximum amount is up to $100,000.