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.
Loan for a large amount
Typically, the duration of a microloan is no more than 30 days, and the amount does not exceed $3,000. The debt must be repaid in one lump sum at the end of the term. If you need more money, you can use a long-term loan. Such financing is provided for amounts up to $10 thousand and above.
Features of issuing large loans
Loans with a large limit and a long term differ from standard ones in the following conditions:
- A regular client or a borrower who has proven his solvency can take out a large amount
- Debt repayment occurs in installments throughout the entire period, and not in one payment at the end of the term
- In some microfinance organizations, such loans are issued only against the security of a car.
- Application review takes longer as the lender carefully checks the borrower
- The interest rate is lower than for a short-term loan to keep the overpayment within the acceptable amount
- You cannot get a loan with a large limit at 0%, this offer is valid for small amounts
- Required documents
To apply for a large microloan for a long period of time, you need to provide:
Citizen’s passport
The second document to confirm your identity is a driver’s license
Certificate of income (at the request of the lender)
If a guarantor is involved, a similar set of documents is required from him.
When pledging a car, documents confirming the borrower’s ownership are presented – PTS and STS.
How to apply online for a large amount?
To get a long-term loan on a card, you need:
- Select one of the offers on this page
- Click “Submit an application” and go to the MFO website
- Register there by filling out the form: enter your passport details, attach photos of documents
- Create an online application – indicate the amount, period, method of receiving money
- Submit a request for review
- Read and sign the agreement carefully
Terms of repayment of large loans
Large debts must be repaid in installments according to a set schedule. Typically, the borrower makes payments monthly or biweekly. The payment schedule is attached to the agreement.
You can deposit funds into the lender’s account in cash. To do this, contact the MFO office where there is a cash desk, or payment acceptance points, or use payment terminals.
The most convenient way to repay loans is to pay for the loan online with a card
If the options above are not suitable, you can pay off the debt by transfer to your bank details. In this case, the borrower needs to contact any bank or post office with a passport. Or transfer money via online banking or app. The intermediary bank will charge a commission for the operation, and the money will be credited to the lender’s account within 1–3 business days.
What else do you need to know about large long-term loans?
Is it possible to take out a large loan without collateral?
Yes, you can. It all depends on the specific lending program. If security in the form of collateral is not required, the client will be asked to provide income certificates and bank statements, and also invite a guarantor as a co-borrower.
Where can I borrow a large amount of money today?
Today, offers for large loans from 21 microfinance organizations are available to you.
What is the best loan offer today?
If a regular payday loan in the amount of up to $30,000 is issued at a rate of 0.8% per day for a maximum of one month, a large microloan, due to the long loan term, has a reduced rate of 0.05% to 0.7%. You can borrow money for a year or more.