The mini-credit or micro-credit makes it possible to borrow small amounts over short periods of time easily and quickly with very little evidence.
It is primarily intended for people with low incomes or financial difficulties who have difficulty obtaining a loan in the traditional way.
Who is the mini credit for?
The mini-loan is for unemployed people, students, retirees, beneficiaries of the RSA or individuals listed in the personal credit repayment incidents file … In theory, any person can claim the accession of a mini-bank. credit. Some organizations may require a minimum income (usually less than $ 800), but in principle, the only condition to access this type of loan is to be at least 21 years old.
I request a credit redemption with cash!
The mini-credit is a popular financing system because very little evidence is needed to access it. More often than not, one simply has to attest to one’s identity and current financial situation. Thus, people with modest incomes (or not) will easily realize small projects or make ends meet difficult without having to provide guarantees.
How does the mini credit work?
The mini-credit is very easy to access. It makes it possible to borrow small amounts over short periods of time easily and quickly with very little evidence. This micro-credit is categorized as a consumer credit and therefore meets the associated legislations. Thus, the interest rate can not exceed that of ordinary consumer loans, but will often be in the high average of the prevailing rates.
The mini-credit does not require any fees, no guarantees and in case of early repayment can not give rise to penalties. The amount and terms of repayment will depend on the lender. The latter may be a conventional banking institution, but specialized online institutions are often the most popular.
A quick online credit to get
Indeed, the online mini-credit is ideal for emergency situations since it allows to get an answer and to unlock the funds very quickly. Most of the specialized sites announce that they can make a proposal adapted to the client’s situation in 24 to 48 hours. The rest of the operation will also be very fast because the mini-credit requires little evidence from the borrower. On the sums side, some sites offer to lend up to $ 3,000, but most often, the loan range will be between $ 200 and $ 600. The repayments will also be made over a short period, between 12 and 48 months.
To contract a mini-credit, it will be enough to find the online platform proposing a suitable offer to his expectations and fill out a form to make the request. If the request is accepted, some basic proof will have to be provided and once the conditions are validated, the funds will be released and transferred and then paid monthly.
Easy and quick to obtain, especially if it is done online, the mini-credit is a backup solution for people in financial difficulty wishing to realize small projects or debt. Less dangerous than revolving credit and no cost, its rate remains high. We will therefore prefer to switch to another type of consumer credit as much as possible.