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For a variety of reasons, a large number of people are unable to take an ordinary loan from a bank. In such a situation can help them microcredit. And here the actual question arises: what is a microcredit from itself and what “advantages” can a borrower get by registering it.
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Microcredit is practically no different from the usual loan, except that it is always a small amount of money that is issued to the borrower for a short period (usually it is 10-14 days and the amount is $500-2000 ).
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The main concept that underlies microcredit was developed by an economic scientist from Bangladesh, Mohammed Yunus. Many years ago, in 1974, a scientist participated in a program that was aimed at fighting hunger in Bangladesh. During his participation in this program, Yunus conducted a large-scale study, after which he concluded that in most cases, even a very small loan can play a very large role for the survival of the poor population. The scientist confirmed his hypothesis by experiment – they were given the first ten microcredits out of their personal money in the world. His first clients were ten women from Bangladesh, who produced bamboo furniture. In general, the amount of microcredit was equal to $ 27. The scientist decided to do so because he found out for himself an unpleasant fact – banking institutions did not want to give loans to artisans who ate were making ends meet, because they were afraid that they would not return the money given to them.
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Today, microcredit has a number of obvious advantages:
- they can be issued to those borrowers who are denied loans by banks because of their bad credit history;
- issuance of microloans occurs very quickly. They can be obtained even with the help of the Internet online, and the money is credited to a bank card. To fill out an online application form on the Internet, wait for the approval of the application and get the required amount on the card – usually you need no more than half an hour;
- To get a microcredit, a minimum requirement is presented to the borrower. Documents – passport, code. A stable source of income, or without it, if the borrower is a pensioner;
- repay a microloan is as easy as issuing it. This can also be done online via the Internet, without leaving the limits of your apartment or office;
- if there is such a need, microcredit can be obtained in cash;
- during registration you do not need to specify for what purposes you want to take a microcredit.
Paycheck loans Alabama: under what situations any microloans is the best solution.
Let’s look at situations in which you may need a microcredit. Most often, microcredit is required in a situation on the basis of which the slogans of most microfinance organizations (USA) were formed. This is a trivial shortage of cash for various needs before the salary. Most often they are called: “Loans to paycheck”, “Money to paycheck”, “Loans to paycheck”. If we consider the situation separately, the need can be any:
- the need to pay bills;
- the need to get a gift for someone from relatives or loved ones;
- not enough money for a bargain: a smartphone, computer, home appliances, clothing, etc .;
- need money for rest;
- need money for treatment.
Getting a microcredit in the company Payday loans
Making a microloan in Payday loans a borrower can choose a method more convenient for him. There are 2 of them:
- online and get money in debt to your card. To use this method you need to submit an application online on the company website. This method is currently used by most borrowers, as it is the most convenient and fast;
- in cash, visiting in person the nearest Payday loans office. Microloans are usually obtained in cash by people who for some reason do not trust online financial transactions or are not well able to handle a computer. So that such people feel comfortable and have the opportunity to receive financial support in USA, more than 70 Payday loans branches have been opened.
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The procedure for obtaining microloans to a bank card is very simple. To pass it is necessary:
- with the help of a loan calculator, to make the choice of the required amount, and to determine the term of the loan;
- create your personal account on the Payday loans company website;
- enter the required data in the client’s online form, then send a request for consideration;
- after it has been processed, if the response on the microcredit is positive, within a few minutes the funds will be sent to the customer’s bank card.