For what purpose we take the microcredit in Northern Europe (Sweden, Norway) and the Ukraine?
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Every day, microcredit is becoming more popular because makes it possible to quickly and without any documents to the money at stake. Another advantage is the absence of a check earmarked funds. But we still decided to find out why the Ukrainians decorate the microcredit and the purpose for which the Europeans turn to ferratum.se and other MFIs — details in the material.
The proper use of microcredits by the Ukrainians
The main feature of microcredit on the Ukrainian market is that borrowed funds are used by consumers for personal purposes. According to statistical research, one-third of all assets goes to buy home appliances, mobile phones, computers. The world today tempts technical innovations, which are quite expensive. For a long time to save for a desired gadget, many people prefer to arrange a loan in MFO.
Another third of borrowers are using the money for necessary needs. For example, micro-loans out when payday is still a week to live what is not, or when from failed appliances and needs urgent repair. A small number of people make out loans for medical treatment, pay debts (including other loans), travel, repair, solemn events. The intended use of microcredit in Sweden and Norway
Unlike citizens of Ukraine, the population of Sweden and Norway is taking the microloan for other than personal use and for business development. The money to business representatives to buy the missing equipment, promotions and control of operations without interrupting production processes. Thanks to microcredit, they are able to reach a new level of income.
Most MFIs in Northern Europe only provide business loans. And only a few companies, for example Folkia https://smalan-norge.com/folkia-logg-inn Finance individuals. this is Due to the fact that the European Union supports MFIs who provide loans for the purpose of receiving income and not on the personal needs of the clients.
Credit conditions are different in each country. It all depends on the level of development, economic situation, degree of state regulation of the conditions for obtaining a microloan and quality of life of the population. In Sweden and Norway the interest rate varies from 11,43 to 39.9%. The percentage charged monthly for the actual use of funds.
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