Croatians love credit card irons, and when they fail, they look for quick solutions to smaller monetary issues such as emergency loans or mini-loans.
A large number of citizens at some point in their lives found themselves in a situation where they needed a mini-loan to bridge the period between unpredictable expenses and the arrival of a salary or pension. In these situations, they ask for smaller amounts in banks and lending companies that they can repay as soon as the next income comes.
All payday loans direct lenders are quick and easy
The biggest advantage of payday lending is that the application is submitted online. Green Touch has this option to apply for a payday loan direct lender. Just fill out the online application form and present your ID and current account card.
Banks and other financial institutions do not require much paperwork for a small sum of money to be paid out within a day. The approved loan amount is paid directly into the loan beneficiary’s transaction account.
A current account should be opened to show that the client has regular earnings in the form of a salary or pension. The account must not be blocked or secured, or it should be evident that the client is properly paying its debts.
Mini loans are not subject to security instruments
Mini loans are loans that are characterized by smaller amounts of money that are repayable in a relatively short period. This is usually a 30-day repayment period, which can take up to five years.
Given the short repayment period, interest on mini-loans is usually fixed, unlike long-term loans, which is generally a more expensive investment. As these are smaller amounts, they are repaid without much burden. No real estate or real estate is required as collateral, nor is a third party’s guarantee, ie the co-debtor or guarantor, required.
Mini-loans can be requested by all workers regardless of their type of employment
Mini-borrowing does not require an employer certification, thus giving all workers the opportunity to borrow money regardless of their type of employment.
Many entrepreneurs fear the collapse of a business they do not want to give an insight into the business of their company, which prevents workers from borrowing or crediting. Mini lending is not required, especially if they are issued by credit houses. They can be raised by employees on a permanent or permanent basis.
They provide the flexibility needed today, especially in emergencies and unpredictable situations.
What are banks checking for mini-lending and credit institutions?
Banks, savings and credit unions and credit organizations that offer mini-borrowings most often require a sound financial position from the client. With banks, this implies creditworthiness, which means that the regular income of the client, the employer the client is employed with and the type of employment are taken into account. In addition, make sure that the client regularly settles his / her existing debts, whether he/she already has the status of the guarantor or co-debtor and how much the client maintains.
Each bank will, after a thorough review, and before granting a loan, look into the credit report of the CROC which contains information on credit obligations, the regularity of repayment of existing liabilities, security instruments, contingent liabilities on behalf of the guarantor or the co-debtor and the like. Based on this, it determines if the client can obtain mini-loans.
Unlike banks, lending companies do not rely on credit standing and blacklisted defaults, but check that the client has regular income and regularly settles their existing debts.