Small loans also known as micro-loans are loans that are requested by those who find themselves facing a small sudden cost and do not want or cannot affect the family’s economic situation. In this article we will analyze, in particular, small loans for those who are without guarantees.

How to get a small loan

How to get a small loan

Getting the small loans is very simple thanks to the small sum of the loan, in fact the credit institutions do not ask for in-depth guarantees on their economic situation even if it is always essential to present an income guarantee, which can be the pay slip in the case of employees, the Unique Model for self-employed workers or the pension slip if the applicant is a pensioner. However, given the amount that is not really prohibitive, in this case the credit institutions accept as a guarantee a monthly maintenance check or the rent of a property owned.

Small loans for those without guarantees

Small loans for those without guarantees

We have listed the indispensable guarantees to request a small loan first, but those who do not have any fixed monthly income, such as the unemployed, housewives and workers without a regular employment contract, can still apply for a loan under an alternative form, that is, using of a guarantor The guarantor is a third person who can lend his income guarantees to the credit institution in place of the applicant.

The figure of the guarantor is very delicate, because if the beneficiary of the loan does not have to repay the sum, the guarantor himself will have to repay the credit institution, so generally especially today when the financial crisis it is very serious in our country, finding a guarantor is always more difficult, but not in the case of small loans, precisely because the sum contained a relative willing to offer its own guarantees is found.

The amounts that can be requested

Generally the amounts that can be requested for this type of loan range from 500 euros to 1,500 euros and are paid out within 48 hours of acceptance of the request, which is why they are also referred to as very fast loans. Just as the delivery times are fast, repayment times are equally short, in fact in most cases the repayment of the sum must be returned between 30 and 42 days. Logically, the interest accrued and the costs of managing the loan will be added to the loan. Interest rates vary depending on the credit institution and the guarantees offered by the applicant.

It is possible and even faster to apply for small loans also online by connecting directly to the official sites of credit or financial institutions or to sites specialized in this type of loan, which will provide the applicant with many estimates from which to choose the most convenient for your needs. Requesting a loan online simplifies the bureaucratic part, thus allowing the reduction of interest rates as well. It is possible to request them thanks to the digital signature option, which is now in use in all credit institutions.

Funding for bad payers and protesters

If it is difficult to get a loan from someone who does not have an even more serious income, it is the situation regarding bad payers and protesters. Those in the past belong to those who in the past had problems with the repayment of other loans and therefore for credit institutions are subject to other insolvency risk and more and more rarely they provide a new loan to them. Different discourse, however, if the members of these categories are employed or retired, because in that case they can easily take advantage of the small loans by granting the assignment of the fifth or the salary or pension.

With this method the credit institutions or any financial institution will disburse the loan without any problem, because with this methodology the sum will be reimbursed directly by the employer in the case of employees and by the pension institution in the case of pensioners. Logically, the maximum deductible sum cannot exceed the fifth of what is received monthly, hence the name transfer of the fifth, which is the equivalent of 20% of the salary or net pension received. Pensioners with a social pension are excluded from this method.

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