The microcredit company FinaGuru issues short-term and long-term online loans to individuals. The organization does not have a branch network; it operates remotely via the Internet.
Creditnice is a microfinance company operating since 2013. It specializes in loans with online processing, including to pay for purchases from partners; it also issues virtual credit cards and provides credit lines.
Features of loans for 5 days
The terms of the agreement differ for different microfinance organizations. To choose a lender and borrow money profitably, you need to know the features of this type of microloans.
On average, for this period you can get from 15,000 to 30,000 dollars.
Some lenders offer money at 0% to new clients. If the client repays the debt on time, he will not have to pay interest
The lender can arrange additional services that will make the microloan more expensive – it is important to take this point into account when concluding an agreement. The full cost of the loan must be indicated in the agreement
In case of delay, MFOs apply different measures. Which ones exactly – you need to find out in advance
The maximum rate per day is established by law – 0.8%. Companies set their own minimum rate
When financial problems arise and there is a threat of delay, you need to contact a representative of the MFO to extend the term of the contract. To do this, you need to pay the interest that has accumulated over the period of use of the borrowed money. Then there will be no fine or increased interest. Your credit history will not be affected either.
For regular, conscientious clients, some microfinance organizations hold promotions – loans on favorable terms. Such clients have the opportunity to:
- Take money at a reduced rate
- Receive loyalty bonuses
- Sign a contract for a longer period than usual
- Borrow larger amounts
- Use other loyalty programs
Advantages and disadvantages of a loan for five days
Money for five days is a loan that falls into the short-term category. They have pros and cons.
Advantages
Large selection of microfinance organizations
Fast registration
Possibility to borrow money at 0% (for new clients)
Availability of microloans for people with zero or bad credit history
Instant money
Flaws
Small loan amount
Higher rate than at the bank
How to get a microloan for five days
To get a microloan for five days, you need:
Set the required parameters in the selection filter and select the MFO
Enter data into the application form
If the application is approved, confirm your consent to receive money using the code
You can receive money in any way:
- To a bank card or account
- To an electronic wallet
- Home delivery by courier
- In person in the office
If you choose delivery or office, you need to agree in advance on the date and time of receipt. In all other cases, the money will be credited instantly.
To increase your chances of receiving money, you can send applications to several companies. We recommend companies whose contracts can be extended if problems arise with debt repayment.
Requirements for the borrower
In most organizations, money is available to over 18 years of age. Some organizations are starting to issue money to borrowers over 21 years of age. The maximum age limit is from 80 to 99 years.
MFOs issue money to clients of all categories:
- For pensioners
- For students
- People with loans opened in other organizations
- Borrowers with bad credit history
- When planning to borrow money from an MFO, the borrower must independently assess his creditworthiness, because in case of delay, increased interest will be charged.