Loan money is provided not only in the bank, but also in microfinance organizations. The first option is more profitable, but if you urgently need funds, you can arrange a microloan. This is one of the types of modern financial services. Read more about this in the article.
The concept
If you contact the banks, then consideration of the application may take some time. In addition, a positive decision is not always made. In this case, you can issue a microloan. This will save time. This does not require the collection of multiple documents. Issued funds do not have a special purpose, so they can be spent on different needs - training, shopping, travel.
A microloan is a small loan, the amount of which is not more than 100 thousand rubles. But often not more than 50 thousand rubles are provided. Borrowed money is issued for a short time, and there is no need to confirm solvency. A feature is the quick decision-making after the appeal. The answer is provided within 5-30 minutes. In this case, there is a high probability that the application will be approved.
MFI Rights
Such institutions have the following rights:
- Provide loans to individuals, legal entities and individuals for amounts not exceeding those established by law.
- Request from customers the documentation necessary to arrange a loan and fulfill obligations.
- Refuse to issue money.
- To raise funds through loans, donations, contributions.
Who issues microloans?
MFIs are state controlled, but their activities are not licensed. To create a company and start work, you need to register in the state registry. Microloans can be provided by a legal entity that has the right to register in the following forms:
- Fund.
- Company.
- Institution.
- Partnership.
- Partnership
- Society.
To date, there are many organizations that offer their conditions to customers. Whatever the name of the company, it has approximately the same principles of work. The terms of cooperation with borrowers are also similar.
Benefits
A microloan is a type of financial service that allows you to borrow money. At the same time, she has her own advantages:
- Misuse of funds.
- Convenient repayment.
- Lack of collateral.
- Quick review of the application.
- Minimum documents.
What do you need to get a microloan? This requires only a passport. An application is formed upon a client’s request. Contact details and personal information are required.
When should a microloan be issued?
It does not take much time to get a microloan. This service should be issued when there are no other ways to eliminate financial difficulties. If you plan to take the money for a long time, then there will be a large overpayment.
Making this type of loan will be advisable in the following cases:
- The lack of a loan opportunity from friends.
- Emergency situations.
- Purchasing goods in a store when there is not enough money.
- Lack of access to classic banking services.
- Correction of bad credit history.
- No time to get a regular loan.
- When it is unprofitable to issue a standard loan, for example, a very small amount is required.
It is dangerous to get this type of loan if you can’t give it away in the near future. Long term leads to higher rates. But if you get a small amount for a short time, then the overpayment will be small.
Features
Where to get a microloan? To do this, you need to contact the MFI, although many banks provide it. The features of the service include:
- Different maturities. MFIs do not limit the time period for refunds.
- Distribution in Russia. Now in the country there are many organizations that offer these services. Everyone can contact the institution that provides favorable conditions.
- You can borrow money with a bad credit history. Now even those who previously had difficulty paying a loan are able to arrange loans.
The main disadvantage is high rates. For a day it can be charged within 1.5–2.5%, and for a month - 44-73%.
Difference from a loan
A microloan is different from a loan. In addition to the main differences, there are also the following:
- Loans are issued by banking organizations that have permission to conduct this activity. It is issued by the Central Bank of the Russian Federation. Macro loans are provided by MFIs and private individuals.
- With a loan, a large amount is issued at a low interest, but it is often forbidden to pay debt ahead of schedule. Microloans can be repaid at any time without sanction.
- To obtain a loan, you need to provide a lot of documents, among which there should be a certificate of income. Microloans are provided by passport.
Kinds
Depending on the method of transferring funds, microloans are of the following types:
- To map. You can quickly get a microloan on the card. This type of service is very convenient, because it allows you to use the money without leaving your home. If the application is approved, you must enter a card account, after which the money will be transferred. MFIs provide bank card loans with the Visa and MasterCard logos.
- Microloans in cash. This is a less common service. The disadvantages of this method include the need to visit the office. But some organizations make cooperation with customers comfortable. For example, Home Money and MigCredit companies draw up a plastic card with the first appeal.
- To an electronic wallet. This method of receiving money is also convenient, but a fee is charged for transferring funds to cards. In addition, systems may have a limit on the amount.
Moneyman
How to get a microloan without failure? You must contact MoneyMan, where the decision is made in 15 minutes. For registration is not required to leave the house, collect documents. It is only necessary to fill out a questionnaire, wait for an answer and receive funds on the card.
For the first time, only up to 10 thousand rubles will be available. Over time, the limit increases to 70 thousand rubles. The loan term can be up to 18 weeks. The rate is 1.85% per day. Mandatory requirement is citizenship of the Russian Federation and residence in the country.
Kredito24
You can get a microloan without verification in this MFI. A maximum of 30 thousand rubles is issued per month. It is only necessary to fill out an application, and after making a decision, the funds are credited to the card. Customers can pay the debt ahead of schedule without overpayments or extend the loan term.
The main advantages include:
- No hidden charges.
- Not checked credit history.
- A passport scan is required.
- The company operates around the clock and seven days a week.
- No need to provide information and call guarantors.
Lime-zaim
The company quickly lends money without additional documents, checks and collateral. Transfers are made to cards, Qiwi-wallets, Yandex.Money. You must register in the system and fill out an application.
The maximum repayment period is 30 days. You can get up to 20,400 rubles. Customers are entitled to a VIP status. To do this, timely payments must be made. In this case, benefits will be available. Within 5 days, the rate will be 0%.
Zimer
Money is issued online. The processes are carried out automatically, so the credit history is not checked. The application is considered in 2 minutes, and then the funds are credited to the card. The rate is 2.17% per day, and the amount is 30 thousand rubles per month.
E-Cabbage
Clients can receive loans up to 30 thousand rubles for 3 weeks. The rate is 2.1% daily. Registration takes no more than 10 minutes. Applications are approved instantly, as is money transfer. You can use the card, Qiwi Wallet, Yandex Wallet, Golden Crown and Contact system.
Redemption
Debt payment in each company is carried out differently. Many accept cards, so customers can, without leaving home, transfer funds to company details. Electronic wallets, money transfer systems, ATMs are offered.
If the company’s office is located in the city, then you can pay the debt at the box office. Depending on the method of transferring funds, a different fee will be charged. If the money is taken for a short time, then the overpayment will not be large.
Fraud protection
Making a loan always has risks. The implementation of various fraudulent schemes can cause a loss of funds, and the money will not be transferred. Fraudsters can be identified by the following signs:
- Low rates.
- There is no way to fully study the terms of the contract.
- Prepayment required.
- Not interested in the solvency of the client.
In order not to encounter fraud, you must carefully study the conditions that are offered by the company. After that, you need to analyze them, and also ask for clarification of unclear points. If there is a risk that the selected company is a fraudster, then you should refuse to complete the service.
Now there are many different companies offering microloans. The reliability of the company is evidenced by positive feedback from real customers. You can find out about people's opinions from thematic forums.
Reasons for refusal
MFIs may refuse to receive a microloan in the following cases:
- Inconsistency with requirements.
- Inaccuracy of information.
- Documents are not provided, or they do not meet the requirements.
- There are outstanding debts to MFIs.
- Unsatisfactory financial condition.
Thus, a microloan is considered a convenient financial product that allows you to get the right amount in a short time. The main thing is to choose a reliable company and quickly pay the debt.