MFIs as an alternative to banks

Thirty three million twenty eight thousand seven hundred forty nine

There are times when you will not give credit on favorable conditions in any Bank, for example, due to the fact that you have a damaged credit history. However, the money in debt to take is vital, if you have friends who will help out, then fine, but what about those who have no one to contact. To the aid will always come micro loans you can get money on your card or e-wallet, you only need to send an online application on the website of the MFI. These firms today are not less and maybe even more than banks, and every day their number is growing.

The fact that MFIs are not so demanding to borrowers, as banks, i.e. they don't look just for the KEY, they take into account the current creditworthiness of the customer. In this connection, you need to try to convince employees of the microfinance office in the presence of informal income, with which you will be able to fully repay the loan. Generally in this service on the selection of loans that are available to you on the link is the percentage of approval.

When the day of applying for a micro loan, consider some of the details:

  1. Great interest rates, but this factor is due to the fact that these loans are available for most due to the fact that organizations compensate their risk high interest rate. They usually range from 1% to 3% per day.
  2. Small term loans, but hardly anyone took the loan for a long term under such interest is, therefore, an organization's data spetsializiruyutsya exclusively on short-term loans.
  3. You don't need to visit the office, because everything is done offline, often for 24 hours a day. In some cases, large firms have their offices and you can fill out an application there, but agree it will be easier to do through their website.
  4. Filling the application will not take much of your time and a decision on the application will be accepted pretty quickly. A lot more time you may take to study all terms and conditions on which the loan is issued.

All small and large MFIs outstanding loans to send data in BKI, that is in the office where all the credit history of every individual. So, repaid the loan successfully can positively affect your KI, and when it is positive, banks will again be willing to give you loans, conditions which is much better than any loan. Generally there is an unwritten rule that the smaller the organization requirements to the borrower, the less favorable the loan she will give him. Therefore, carefully read the contract before you sign it.


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