Installment loan, consumer payday loan,”no matter what” – loan, small credit or even short-term loan and etc., lenders often use their own names in terms of their loan offers. In practice, it is often difficult to distinguish between small loans and mini-loans. These terms are not legally protected. In addition, there is no stipulation up to which amount of credit the respective terms may apply. Nevertheless, the concept of micro-credit and mini-credit differ significantly from each other. With the following guide we would like to explain the differences between the two types of credit. Micro-credit as a General term The concept of micro-credit is relatively common in practice. In general, these are loans, the amount of which is in the manageable range. While, for example, several hundred thousand dollars are issued as loans within the framework of real estate financing, this does not apply to small loans. Their credit amount is usually limited to 10,000 dollars, whereby such a credit is often possible from a sum of 1,000 dollars. However, each credit institution shall determine the exact minimum or maximum amounts independently. Due to their relatively small amount of credit, small loans are often provided by credit institutions rather uncomplicated. Most institutions offer their small loans mainly for consumption purposes. This is why consumer credit is often referred to as consumer credit, which is ultimately nothing more than a small credit. Regardless of its exact name, the small loan is offered by numerous banks and savings banks. For this reason, we recommend a thorough loan comparison, which filters out the best online payday loan offers. The following documents are required to apply for a small loan: – Proof of income (current; Mostly last two or three months) – Proof of identity (e.g. ID card, passport with registration confirmation) – positive credit score (if credit institutions are used for credit assessment) New Product: Mini Loans The mini-loan is usually advertised as an independent product and is characterized by an extremely small loan amount. This is usually a sum of up to 1,000 dollars, so that the minimum loan in most cases only has a three-digit loan sum. In fact, the mini-loan fills a gap that classic credit institutions in the past often did not close with their small loans in the amount of at least 1,000 euros. As a result, there are now several providers who have specialised in the provision of mini-loans. Due to the significantly lower amount of credit compared to the small loan, the maturity of the mini loan is correspondingly shorter. This also makes a significant difference between these types of loans. While the small loan is usually paid in instalments over at least 12 monthly instalments, the mini loan in practice allows significantly shorter maturities. The terms range from 7 to a maximum of 60 days – depending on the lender. For this reason, the mini-loan is also advertised as a so-called Short-Term Loan. There are some situations in which one can help the completion of a mini credit. For example, the borrowing of such a loan is particularly suitable for bridging short-term financial bottlenecks. At least if their size is not too pronounced. In this case, the mini-loan may also be a financially worthwhile Alternative to the classic overdraft facility. At least it is worth a thorough loan comparison.…

Continue Reading

A loan from a family member and loans online for hospital bills?

There are two main ways to obtain a loan: via the Internet or at a post office. Each solution has its advantages, but also disadvantages. Let’s see what will be more suitable for You and better suits your needs. Online loans meet the needs of the modern client. You can attract them very quickly by limiting the documents to the required minimum. Most often, just go to the company’s website, fill out an application and that’s it. After a short time, you can use the money in the account. However, this solution also has its drawbacks. First of all, you cannot constantly consult all your doubts. Here, a visit to a stationary institution acquires an undoubted advantage. The consultant there will answer all questions. Also, signing a contract by hand seems to be a more serious commitment than adopting rules for collaboration over the Internet. Thus, online loans are burdened with a higher risk of skimming the contract rather than carefully reading it. However, remember that visiting the inpatient Department requires more time and energy. There is also the possibility of obtaining a loan by phone. This is a convenient option for people who do not know how to use the Internet, and, at the same time, do not want to choose a stationary Department. Just then call the hotline or leave a phone number in the form of the company, and all the formalities will be performed by hand. Many people do not want to borrow from banks. They are afraid of responsibility and possible unpleasant consequences. In such situations, the only good option seems to be on hand to help someone from the family. But is it always a good idea? A cash loan is always a commitment, no matter who we take it from. We must remember that timely payment indicates your reliability and that you can trust you. When you start falling behind on repayments, you put yourself and your lender in an awkward position. Imagine that someone owes you a large sum of money. On the one hand, you would like to return them, but on the other hand, you lent them to a good friend, and you know that he has nothing to return to you. Can often be the cause of excessive voltage. Not from today says that borrowing money to family members and friends is a mistake. On the other hand, if the situation happened to you for the first time and you know that in a month or a few, you will have money to repay the debt, then why not take advantage of the generosity of a loved one? When you return the funds on time, prove that the extraction of them was not a mistake. A loan from a family doesn’t always have to end a big fight. You just have to remember to keep your word. This will give you financial help at a difficult time in life and the person you are borrowing from will not feel cheated.…

Continue Reading