Get online loans for poor credit here
Loans for poor over the internet as citrusnorth.com notes are the fastest way to get money when you need a sudden cash flow. Some borrowers allocate borrowed cash for current expenses, e.g. to pay bills or buy food when there is not enough money to survive until the proverbial ‘first’. Others treat Internet loans as a rescue only in emergency situations. Examples of such unforeseen expenses include e.g. a car breakdown, everyday household appliances breakdown or sudden illness. Some borrow to renovate the apartment or buy a new car. Still others to pay off loans and credits taken from other financial institutions. Online non-bank loans are very popular these days for several reasons.
a) High availability of non-bank loans
Non-bank loans are granted by parabanks, i.e. companies and institutions that provide banking-like services but are not subject to banking law. There are many loan companies on the Polish market that grant loans stationary, via the Internet or a mobile phone. Free payday loans take the lead among the internet loan offers.
b) Minimum formalities to obtain a non-bank loan
Most online lending companies need an ID card, bank account, and mobile phone to obtain a loan. For this reason, such loans are often referred to as proof loans or payday loans as proof. Just fill out a simple form on the lender’s website and make a verification transfer to the bank account indicated. No guarantors or employment certificates are needed, as in the case of a bank loan. You have to meet the required age criterion, but already adults can apply for loans from 18 years.
c) Fast non-bank loans online – loans even in 15 minutes
Non-bank institutions use simplified verification procedures and information on granting a loan can be obtained even in 15 minutes. In most cases, the cash transfer is carried out immediately, but the time the money arrives on the bank account depends on the dates of interbank sessions. If the lender and the borrower have accounts in the same bank, then the cash on the borrower’s account will appear on the same business day.
d) Non-bank loans for those in debt via the Internet
Some non-bank institutions do not verify borrowers in BIK. Non-bank loans for indebted persons are an offer addressed to persons who, due to debts, would not receive a loan from a bank. Granting loans to indebted persons is a big risk for a loan company, hence most of the companies verify borrowers in the debtors’ registers and refuse to grant loans to such persons.
Do online non-bank loans have disadvantages?
Fast non-bank loans via the Internet are usually made for a small amount and for a short period of time. In addition, the cost of such a loan is very high compared to bank loans. The anti-usury act is in force in Poland to protect borrowers against excessive costs of loans and non-bank loans. Due to various administrative fees and additional costs, the actual annual interest rate on some non-bank loans is up to several thousand percent. In the event of problems paying back a loan within a certain period, many lenders allow the extension of the fee, but this involves an additional fee, usually quite high.
Fast non-bank loans via the Internet should only be applied if you are sure that you will be able to pay off the loan. Otherwise, the consequences of late repayment can lead to even greater financial problems.