Quick loans are the ideal financial tool to get out of certain difficult economic situations. In this article, we will go a little deeper into this type of financial product and we will specify when you can be of great help.
What are fast loans?
This type of loans are financial products designed to replace the lack of liquidity that a person may have at any given time. The most outstanding of these products is the simplicity at the time of requesting them and when receiving the money, as well as the speed in the procedures. Certainly, as it is a financial product originated in the Internet, its approach is very aligned with the values of ease and immediacy of the digital environment.
In addition to the immediacy and speed in both the application and the acceptance and income of money, there are other characteristics that define this financial product and that you should know to know if it suits your needs.
1. Quantities not too high
The reality is that, depending on each entity, the limit amount for these products can vary significantly. For example, there will be companies that offer up to 3,000 euros while others can give you up to 5,000.
Depending on the entity the figures vary, however, most companies offer these amounts at most.
2. Short return period
Depending on the amount that they give you they will give you a term or another to return the money plus the interest. The most common is that this term does not exceed the year. However, you can always find a company that offers you a longer term.
Similarly, if you ask for a specific need, you can return it the following month, thus avoiding the increase in the cost of the loan.
3. Fairly lax requirements
As a rule, to access this type of financing companies do not require you to comply with too many requirements. They know who their clients are and they know that, in many occasions, they go to them because the traditional banks impose too strict conditions, difficult to fulfill.
Who can apply for a quick credit?
In line with the previous section, we thought it convenient to talk to you about the conditions that you will have to meet to access a quick credit. The first thing you should know is that the information we are going to give you may vary depending on the entity. Therefore, we always recommend you compare between different quick loans until you find the one that best fits your conditions and needs.
1. Have regular income
It will not have to be a payroll, but it is true that you must credit a regular source of income.
2. Reside in Spain and be of legal age
This will be necessary so that you can be solely responsible for the loan and to be able to locate you in case of non-payment.
3. Identity document in force
Either DNI or NIE, you will have to provide a photocopy of your identity document and this will have to be in force.
4. Have email and a mobile
These will be the means by which the entity will contact you and must be operational and up to date.
5. Be the holder of a bank account
In which you will be paid the money and where you will be charged the quick credit installments.
6. Not having debts
Certainly, this depends a lot on the entity and the type of product. There are some entities that offer products for people that appear in delinquent listings. In any case, if your debt is financial, you will not be able to access these products.
When can it be useful to request a quick credit?
There are certain circumstances in which this type of financing can help you out of an economic predicament. If we focus on the current date, the first thing that comes to mind is the end of the course of the youngest of the house and the reservation of the holidays.
1. Cover end-of-course expenses
Now that the end of your children’s course is approaching, you will surely have to advance payments for the school party. Or, even if they have planned a trip for the farewell with the companions, you will have to start making the most important payments from now on.
If you have little liquidity, this type of credit can help you get out of a bind, paying off the debt when you are a little more relieved.
On the other hand, a new quarter soon starts and the purchase of school supplies can cost you a lot. In this way, do not hesitate to use these financial products to improve your purchasing power.
2. Plan your vacation
Arrived to this month, the slope of January goes away although it still feels. The problem is that you may have to book or advance some payment for your vacation, and you may not have the necessary liquidity for it. If this is your problem, do not hesitate to ask for a quick credit.
Especially if you know that you will have that money later and that you can comfortably pay the fees; Do not think about it and get the money you need to book your vacation now.
3. Summer reforms
Another of the most common activities in summer are the renovations. If you are thinking of taking advantage of the summer months to make the reform that your home needs, but for which you never find the moment, a quick credit can help you.
If you have to pay in advance for the materials or give any signal to the construction company or to the masons themselves so that they will attend you on the dates you need, do not worry about the money. At this precise moment you may not have the necessary liquidity, so you can help with this product and make sure that the reform of your home does not pass this year.
In short, quick loans can help you in many circumstances. These three examples are the most common, but any economic disagreement that you face may be a good reason to request them.