Payday loan onlines, also known as microloans or personal loans over the Internet, have a number of advantages that are impossible to offer by traditional banks. In this article, we analyze them.
Undoubtedly, the great advantage of online loans is the speed, both in the application and the receipt of money. Sometimes not even 10 minutes pass since the microcredit is requested on the website itself until it is received in the bank account provided. Therefore, you can talk about money immediately.
Another of the most important advantages is the simplicity in the application process. All the steps can be done while sitting at the computer: there are no trips, no intermediaries or hidden costs . Through a smartphone, the request can be made even from anywhere, wherever you are.
The platform of LoanforLoans contributes to that simplicity. It is a very intuitive tool, in which the user can at first glance select the amount and the term of loan repayment. The next step is a standard screen for data logging, with fields such as name, surname, mobile phone or email address. An easy procedure that any Internet user is used to doing to open an email account or to make an online purchase, among other cases.
No ‘bureaucracy’ in Payday loan onlines
The speed that characterizes this type of online loans is based on the fact that there is scarcely any administrative bureaucracy during the loan application. The user does not have to prove income through documents, that is, it is not necessary to show payroll, income statements or direct debits .
Such is the absence of bureaucracy, which can even request online microcredit from people who have a negative credit history , that is, who are part of the so-called delinquent lists, such as ASNEF or RAI .
The bank guarantee is another of the paperwork that is avoided through this alternative to traditional loans. While many entities request a bank guarantee to the client to ‘cover their backs’ when granting a loan, in the case of platforms such as LoanforLoans no need to provide any kind of endorsement.
What are Payday loan onlines useful for?
Online loans are especially useful on some of the following occasions:
-When facing unforeseen expenses : who else who has ever taken the unpleasant surprise of an unexpected expense. Fines, misplaced invoices. The rapidity in the granting of these microcredits offers a great capacity for maneuver to solve the situation.
-When it is not possible to access traditional credit : until now, being in the ASNEF file or not being successful in applying for a bank guarantee deprived many people of the right to request a personal loan. With the emergence of Internet and portals like LoanforLoans, access to credit is now practically universal.
-For small and very specific expenses: each family organizes its economy as best considered, and in many cases moderate and extraordinary disbursements are preferred through microcredits. The most representative case is the holiday trip, something that for many people would represent a luxury if there were no Payday loan onlines.
Another example is also very valid is the Christmas shopping: in December and early January, spending skyrockets in gifts, business dinners, family meals on Christmas Eve and New Year’s Eve, etc. And that is something that especially suffer those who do not enjoy the ‘extra Christmas pay’, either by being charged unemployment, to have a pro-rated salary or to be autonomous. So many people turn to microcredit to spend these dates in the most normal way possible.
-When you do not have the expected liquidity : sometimes, an expected expense becomes an unexpected expense due to totally unrelated reasons. For example, something that is unfortunately common in recent years is the delay in the payment of extra payments or even payroll at work. That, undoubtedly, unbalances the accounts of any person or family, so that sometimes the only way to maintain the normality of the accounts is through a microcredit as those that can be requested in LoanforLoans, which represent a relief to waiting to collect what corresponds by right.
-As a replacement for purchases through installment financing : stores and department stores usually offer the possibility of purchasing a high-priced item in installments. But sometimes, for some reasons or for other reasons, the finance company does not grant the financing that was initially available, or the financing conditions are not very beneficial. Payday loan onlines then become a great alternative in this type of purchases, which we often associate with technological expenditure: a new laptop, a state-of-the-art smartphone or a GPS for the car.