Often, citizens say that they are not given a loan from banks. And the reason for this is not always a bad credit history. Now banks have a strict policy, many of them prefer to work only with regular borrowers, and the likelihood of approval in all banks has become lower. If you need money, but banks are constantly denying you, pay attention to the proposals of microfinance organizations.
What is microfinance organization
These are companies that have long been working in the credit market of the country and occupying a certain niche in it. They provide citizens with urgent microcredit on the most simple conditions. It is to them appeal citizens who can not get approval from the bank.
Who can get money in microfinance:
- citizens with a bad credit history;
- retirees and young borrowers;
- unofficially employed citizens;
- citizens living on unearned income source.
Do banks give credit if the applicant’s credit history is flawed? No, under such circumstances it is even pointless to contact them. But microfinances work with such citizens, they are ready to consider all applications.
Like banks, microfinance organizations are subordinate to the Central Bank and operate within the framework of the Consumer Credit Act. To obtain a loan, you should choose a legal microfinance, information about which is in the register of microfinance organizations of the Central Bank.
Microfinance loan programs
All credit programs of microfinance organizations can be divided into two large parts – these are office loans and those that are provided to citizens without the need to go anywhere, that is, directly at home.
1. Office loan. These programs are similar to express bank loans, so the criteria for borrowers are somewhat higher. For example, with a negative dossier, getting approval is rather difficult. But if the problem is different – age or lack of references, then the program is quite suitable.
An application for such a loan is sent to a microfinance organization online, and after preliminary approval, the citizen must go to the office where he will take his money.
Features of the program:
- the amount of issue – up to 50000-80000 rubles;
- issue term – up to a year;
- payments are made once a week or two;
- approval percentage is lower.
2. Online loan. OIf you are thinking about whether you will give a loan with a bad credit history, then this option of issuing a loan by you is most suitable. Online loans are provided completely remotely. These are loans of a small limit, which are issued instantly around the clock.
After submitting an online application, a citizen receives a response in 10-30 minutes, and after approval, the money is sent to him by transfer. You can use your bank card, bank account or electronic wallet as your bank account details. Also in the name of the borrower, the lender can send a money transfer.
Features of the program:
- available on any file;
- the amount of issue – not more than 10,000-30000 rubles;
- money is issued for 5-30 days;
- return of the loan in one payment;
- increased percentage of approval.
What you need to get a microcredit
Microfinance organizations specify requirements for borrowers on their official sites. Income certificates they never require. For registration of microloans you will need access to the Internet and your passport. If you are going to receive an online loan, then you can use just the actual data of your passport, you do not need to provide the original document anywhere.
Appeals of citizens are accepted online. First you need to choose where to give a loan on your terms, and then contact the appropriate microfinance. Be sure to look at the age limits set by the microfinance. They can begin from 18 or from 21 years. But the maximum age limit is often not indicated at all, which makes it possible for pensioners to get a loan.
To get a loan from a microfinance, you need:
- your passport details;
- the Internet;
You can make a loan even from the phone. If you plan to receive a remote microloan transfer to your details, you will need to specify them in the questionnaire. Most often, citizens choose loans for cards, then in the questionnaire you will need to enter the card number, which is listed on its front side.
More about the design process
If you think about why they do not give a loan in a bank, then most often it is connected with the damage of the credit history. If it is really bad, look for a microfinance that indicates on its website that it is willing to cooperate with such clients.
You can apply for money at any time by filling out an application submitted by a credit company. Since all loans for microfinances are urgent, the decision will come quickly, you will not have to wait more than half an hour. This is true at night.
If you received a positive response, depending on the chosen program, you will either be invited to the office, or your details will be replenished by the amount of the loan.
In the case of a fully remote clearance, an electronic contract is concluded between the borrower and the microfinance, the terms of which must also be observed. Repayment of the loan must be made within the terms stipulated in the contract. If it is impossible to pay, you can contact the microfinance for a renewal – an extension of the term for disbursement of funds.