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.
Long-term loan for pensioners
A long-term microloan has more favorable conditions and comfortable processing. You can submit an application and receive money online without visiting the MFO office. Other product features:
- A large amount. You can borrow up to $10,000, and if you provide liquid collateral, for example, a car, even more, depending on the value of the collateral
- Payment to card. Funds can be spent from the card or withdrawn from the nearest ATM to urgently resolve financial issues
- Long term. Unsecured lending is available for a period of up to 365 days
- Repayment in installments. The loan must be repaid in installments on a schedule every 2 weeks, weekly or monthly, at the discretion of the lender
- Low percentage. Long-term microloan involves reducing the maximum daily rate from 1% to 0.3%–0.5%
Requirements for the borrower
MFOs issue microloans to citizens with permanent residence permits. For pensioners, having a permanent confirmed income in the form of a pension is a big plus. But you need to check the age limits set by a particular company – on average, a loan can be obtained up to 65–80 years. You will also need to have:
- Passports. This is the main document. Additionally, a pension certificate may be requested to confirm status, for example, if the program provides special conditions for pensioners
- Personal mobile phone. It is needed to register a personal account, obtain information and contact the borrower
- Email. Required for registration and exchange of documents
- Bank card. Needed to deposit funds. Must be registered in the name of the client
Payment methods
It is important to pay the exact amount on the specified date so as not to violate the contract. The presence of a commission and the terms for crediting funds must be clarified in advance.
How to increase your chance of approval
First of all, if a microfinance program provides, you can avoid refusal with the help of collateral or a surety. You should also check your credit history to ensure there are no overdue debts. Having many other loans or credits can negatively impact your likelihood of getting paid. In this case, proof of income will help.
Additional factors influencing a positive response from an MFO:
- Truthfulness and completeness of the personal information provided
- No errors in the form
- Constant cooperation with the client