People who encounter unforeseen expenses in the home budget usually direct their steps to the bank to apply for a cash loan, or decide to use the services of loan companies. The latter solution allows you to get cash faster, what other advantages does it have?
Non-bank loans and cash loans
Everyone who has ever applied for a bank loan knows that the process of testing the creditworthiness of a client of this type of institution is quite complicated and takes time.
In addition to verification in Credit Checker, it is usually necessary to provide a document confirming the achievement of stable income, with many banks not including the mandate contract and the specific task contract. A detailed creditworthiness test is intended to avoid a situation in which the borrower defaults.
Therefore, persons employed under the abovementioned agreements may have difficulties in obtaining a loan. What to do in this situation? The solution is non-bank loans. They allow you to quickly obtain additional funds for any purpose, and because the formalities are in this case limited to the necessary minimum, the waiting time for money is very short.
Online Payday loan and non-bank installment loan
Non-bank loans via the Internet can be divided into payday loans and installment loans. Both of these commitments can be made online by completing the application and passing the verification process, but there are a few differences between them. What? Cash loans are loans for small amounts, the sum of which usually does not exceed several thousand dollars.
In this case, you also have to reckon with a short repayment period – usually, it is a month or two months. And although the repayment period can be extended, it usually involves additional fees. Installment non-bank loans via the Internet are liabilities for larger amounts, usually reaching several thousand dollars, which can be repaid much longer, even for four years. The waiting time for money is short, and the formalities associated with granting it are limited to the minimum necessary.
Non-bank loans via the Internet and the employment contract
In the case of applying for a loan at the bank, employment on the basis of a mandate contract or a specific task contract may disqualify the applicant as a reliable customer who is able to pay the installments of the liability. Non-bank loans for proof are, in turn, available to adult citizens of the Republic of Poland, with confirmation of income from the employer not required in this case.
Interestingly, the study carried out on the recommendation of one of the loan companies showed that their clients are mostly people with fixed income, who earn from 2000 to 5000 USD per month. It can, therefore, be concluded that for borrowers payday loans or installment loans available online are a way to finance unforeseen expenses.
Non-bank loans for those in debt
The offer of loan companies is often used by people who appear in the register of the Credit Information Bureau or the Economic Information Bureau. Bank customers having difficulties in timely repayment of existing liabilities must take into account the rejection of the loan application.
And although some loan companies have a special offer for debtors, it is worth remembering that not all quick non-bank loans are available to them. You should be aware that you will have to pay back any liability someday and that you should think about your next debt.
Hasty use of this type of offer often ends with increasing debts that are difficult to pay back, so it is not surprising that companies offering non-bank loans via the Internet check their clients in debtors’ registers. Good Finance provides quick online loans with the possibility of spreading them into 48 easy to pay installments, and the calculator available on the website allows you to determine their amount and thus see how much burden will be settling the liability.