What is the purpose of taking microcredits in Northern Europe (Sweden, Norway) and Ukraine?

Every day, the microcredit service is becoming more and more popular, because it makes it possible to quickly and without documents receive money on the card. Another advantage is the lack of verification of the intended purpose of funds. But we nevertheless decided to find out why Ukrainians apply for microloans and for what purpose Europeans apply to ferratum.se and other MFIs - see the material for details.

Purposeful use of microcredits by Ukrainians
The main feature of microcrediting on the Ukrainian market is that borrowed funds are used by consumers for personal purposes. According to statistical studies, one third of all issued loans go to the purchase of household appliances, mobile phones, computers. Today's world tempts with technical innovations that are not cheap at all. In order not to save for a desired gadget for a long time, many people prefer to take out a loan at an MFI.
Another third of borrowers use the money for necessary needs. For example, microcredits help out when there is still a week before the salary, and there is no longer anything to live on, or when household appliances are out of order and urgent repairs are required. A small number of people take out loans for medical treatment, payment of debts (including other loans), travel, repairs, and special events.
Intended use of microcredits in Sweden and Norway
Unlike residents of Ukraine, the population of Sweden and Norway takes microloans not for personal use, but for business development. With this money, business representatives buy missing equipment, run promotions and manage operations without interrupting production processes. Thanks to microcrediting, they manage to reach a new level of income.
Most MFIs in Northern Europe only provide business loans. And only a few companies like Folkia finance individuals. This is due to the fact that the European Union provides support to MFIs that provide loans for the purpose of generating income, and not for the personal needs of clients.
Credit conditions are different in each country. It all depends on the level of its development, the economic situation, the degree of state regulation of the conditions for obtaining microloans and the quality of life of the population. In Sweden and Norway, interest rates range from 11.43 to 39.9%. Interest is charged monthly for the actual use of funds.

Do you want to take a microloan, but are afraid that you will be denied? Follow this link http://khersonci.com.ua/public/37751-kak-podavat-zayavku-na-onlajn-kredit-chtoby-ee-tochno-odobrili-chek-list.html and you will learn how to apply for an online loan so that it is accurately approved.