Payday loans: the alternative to banks

A few years ago, when we wanted to borrow, we went to the bank to request them. But times change and companies too. Now private entities offer to finance with the same conditions as banks or even better ones. Private lenders grant personal loans of all kinds and have some advantages over banks.

Advantages of asking for personal loans from private lenders

Asking for financing from a private company is not only more expensive, but it will also allow us to enjoy these advantages:

  • Online application and fast management. To be able to request the loans online streamlines procedures and allows us to have credit in a few hours.
  • Totally objective concession. They will not deny us the loan for any subjective reason. If we fulfill the requirements, they will lend us the money, without further ado.
  • Total transparency As the process is done online, the contract conditions are clear and there is no fine print.
  • Loans without endorsement and without payroll. A bank will not grant us loans if we do not have a payroll or guarantee. In contrast, some private lenders can give us a loan if we have a stable source of income, such as a pension or unemployment benefit.
  • Being in Asnef or RAI does not close doors. People registered in delinquent registries can request fast loans or mini loans with Asnef to some private entities.

What personal loans can I request from a private company?

If we believe that private lenders do not have the same variety of loans as banks, we are very wrong. Companies allow us to access practically the same personal loans as banks and even others that banks do not offer.

Mini credits

They are loans of up to 800 euros to pay in a maximum of 30 days and their cost in interest is approximately 1% per day, although it varies according to the entity. Mini credits are usually asked to get out of trouble, such as avoiding bank overdrafts or paying urgent bills. In addition to the speed of procedures, one of the advantages of this type of financing is that some lenders grant mini loans with Asnef at no additional cost.

Quick personal loans

If we need a loan to finance a project or deal with a major expense (a car, a motorcycle, an expensive trip …), this is our best option. We can get loans of more than € 800 in a few hours without leaving home.

How to find the best loans in the market

Thanks to the emergence of private lenders banks have been forced to improve their loans, and this has led to a price war very beneficial to consumers. However, this has one small drawback: with the number of loans, there is, it is difficult to choose the best one for us. To find the best payday loan we can take a look at Green-Touch. There we will find the best financing options.