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.
A loan for an individual entrepreneur is better than a loan
A loan for individual entrepreneurs in some cases may be a better solution than a loan. Especially if you don’t need a very large amount for a short period of time. Many microfinance organizations offer the first loan without interest. This offer can be used at several credit institutions. The requirements for obtaining a loan are lower than for applying for a loan. There is no need to collect documents confirming the financial reliability of the business. Even a novice entrepreneur can take out a loan. To increase the loan amount, you can provide collateral.
Advantages
Applying for a loan around the clock without visiting the MFO office
Minimum set of documents for individual entrepreneurs and businesses – no need to submit a tax return
Quick consideration of the application and transfer of funds
Loyal attitude towards borrowers, lack of a wide list of requirements
There are no requirements for the duration of the individual entrepreneur’s activity or the size of the annual turnover
Flaws
Not all microfinance organizations offer loans to individual entrepreneurs
The microloan amount has limitations; you won’t be able to get a large loan to run a business.
High interest – up to 292% per annum