Loans up to $300,000 per card

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The microcredit company VAYVND issues microloans to individuals online and in branches.
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.
Creditify is a service for issuing urgent online loans to a bank card. You can take out a loan on a card from this company for various purposes. Income certificates and guarantors are not required.

How to choose a microfinance organization

When choosing an MFO you need to:

  • Check the legality of the company’s activities and reliability. Now there are illegal lenders operating on the market, so before contacting an MFO, you need to find out whether it has the appropriate registration certificate. It is necessary to research the company’s rating and customer reviews about it
  • Find out the terms of the loan. You should pay attention to the parameters when applying for a microloan: term, amount and interest rate. Currently, the maximum interest rate on a loan is 0.8% per day. If you take out a loan for a month, by the end of the term the overpayment may be 30% of its amount. Typically, microfinance organizations issue loans for a short period – from 5 to 30 or 60 days. A long-term microloan can be issued for up to a year, but this is not a profitable solution due to the high rate
  • Read the requirements for the borrower. If you do not meet them, then there is a high probability that your application will be rejected.
  • Find out about the presence of commissions and hidden fees. Reliable companies do not set fees for issuing borrowed funds
  • Imposing additional services. Before applying for a loan, you need to find out if there are any additional services that the company can provide along with issuing a loan, for example, checking your credit history, insurance, legal support, etc.
  • Find out if there are discounts for new and existing customers. Promotions and special offers help you save when taking out a microloan

How to apply for a microloan

Loans up to $300,000 per card

The borrower receives the money immediately after the loan is approved. You can apply for a microloan for $300,000 remotely from anywhere in the world. To do this you need:

  • Decide on a company
  • Go to the MFO website
  • Select the loan amount and term, use the online calculator to make a decision
  • Provide your details: full name, mobile phone number and passport details
  • Enter the confirmation code from the SMS received on your phone
  • Check the information provided
  • Send a request

All questions regarding the transfer of money, loss of password, incorrect details can be resolved remotely with the technical support service.

Conditions for obtaining a loan for 300,000 thousand dollars

Obtaining borrowed funds from microfinance organizations has a number of advantages:

  • Minimum package of documents. The main difference between a microloan and a bank loan is the issuance of money without certificates or guarantors. Often, all you need to receive money is a passport and a valid mobile phone.
  • Loyal requirements for the borrower. The client’s age is 18 years or older, no need to confirm solvency or official employment
  • Fast approval. The application is processed instantly or within a few hours. The chance of approval is high even with a bad credit history
  • Free microloan or with a reduced rate. A number of companies issue microloans at a zero rate for a short period upon initial application. As part of promotions and for regular customers, loans are available at a reduced rate
  • Loans without refusal. High percentage of application approvals

Ways to receive funds
There are several ways to obtain a loan from an MFO:

  • Transfer to a bank card. This is the most popular and convenient method. It is used by 60% of borrowers because money is received instantly
  • Transfer to an electronic wallet. The majority of companies cooperate with the Qiwi and YuMoney payment systems. It’s easy to register with them and money is sent to your e-wallet instantly. In YuMoney, you can receive a large amount only to an identified wallet. The disadvantage of this method is the transaction fee that the client pays
  • Transferring funds to the client’s bank account in any bank. To do this, you must provide full bank account details in your application. Transferring money may take up to three days
  • Remittance. Money can be received through a payment service, for example, Contact or Zolotaya Korona. The operator is chosen by the client. The loan must be obtained in cash at the service point
  • Cash at the company office. This method is preferred by about 8% of clients

Requirements for the borrower
Microfinance companies put forward the following requirements for borrowers:

  • Have citizenship
  • Age – from 18 years, in some microfinance organizations – from 21 years, and the lower limit is up to 81 years at the time of loan repayment
  • Registration
  • Stable income
  • Valid phone number for contact

The listed criteria are basic, but some companies may have additional requirements.

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