Although we all know what a loan is and what its advantages and obligations are, it is not always clear what is special about the mini-loans . Here we explain what they are and what are the main differences with what we might consider a traditional credit.
What is a mini-loan
What defines a mini-loan, also known as instant online loans, is precisely its ‘mini’ prefix, which means small. In essence, they are small loans where the amount to be granted is more moderate than in the loans provided by banks.
But in addition to that, there are other characteristics that are always associated with a mini-credit . One of them is the close relationship they have with the Internet. In fact, it has been the generalization of Internet use among people of all ages that has popularized this type of personal loans. All the steps that must be followed to receive one of these microcredits can and must be done through the Internet: application, processing and entry of the borrowed amount.
As the third great feature of a mini-loan we could mention the flexibility of the main conditions, such as the amount to be received and the time stipulated for its return.
Differences between a mini-loan and a traditional credit
Well-known the main characteristics of the minicréditos , it is now necessary to compare these with the loans that accustomed to grant traditional financial institutions, because sometimes the difference is very subtle:
- The amount : as a general rule, banks and financial institutions are interested in moving large amounts of money so that, in percentage, the interest is also higher. But in online companies such as Lending Matters, the maximum amount that can be requested is € 750 each time.
- The return period : again, banks and credit institutions prefer long repayment periods, because the longer it takes to return that money, the longer they will be charging commissions to the client. In the case of online mini-loans, the sooner they return, the better. Therefore, in Lending Matters the minimum return time is 60 days.
- The speed : in this case, it is not speed in terms of the time of return of the personal loan, but speed at the time of granting the requested amount. While banks may take days, weeks or months to study a credit transaction with a client, Lending Matters usually does not spend more than 15 minutes between completing the form and receiving the money in the personal account.
- Simplest request: what to do with the application, the customer will see that everything is easier. The data requested in a mini-credit like ours are very basic: name, account number, contact telephone number … No endorsements or obstacles of that type. And most important: everything that is requested can be sent over the Internet through the form or through email.
Advantages of processing a mini-loan with Lending Matters
And now that we have clear the characteristics of a mini-loan and its differences with traditional loans, it is necessary to know the specific advantages of requesting one of them through Lending Matters :
- Our credits are more universal, in the sense that practically any person of legal age can benefit from one of them. And more specifically, there are two large groups of people who were traditionally denied the possibility of financing, but who can access it through our website:
- People listed in defaulters lists can opt for quick loans with ASNEF.
- People without payroll, but with other types of income can opt for quick loans without payroll.
- 100% secure : different online security companies permanently analyze our website and certify that it is free of viruses and intruders.
- Confidentiality : the processing of personal data that the client sends through the form is done in accordance with the Data Protection Law.
- Almost certain concession : in 99.99% of cases, the request is accepted, so Lending Matters does not leave out any client.
- Happy customers: the sum of all this provides another positive information, and that is none other than satisfaction, expressed through loyalty: 98.99% of our customers are loyal. And that is precisely what we are most proud of .