The immediate loans have become one of the financial products most demanded by the self-employed in our days. And it is that the speed in the granting of the loan and disposition of the money are characteristics very appreciated by those who go to the alternative credit entities looking for financing. In the following lines, we tell you more about these loans.
The reason for the success of the immediate loans
These loans serve to respond to the urgent needs of money. And, precisely, alternative credit institutions are resorted to by the fact that traditional banks can not comply with the immediacy requested by the client. Likewise, conventional banks are not in a position (due to the pressures that their risk departments receive, following the crisis that we have been experiencing since 2008) to grant loans without a rigorous prior requirement of certain guarantees: payroll, guarantee, absence of listings of Financial Credit Institutions, etc.
Even if you can even fulfill these requested guarantees, when an entrepreneur needs the money urgently, he may not be able to wait for the bank risk departments to deliberate. As you well know, there are payments that can not wait. We refer to cases such as a fine that increases in price due to late payment interest, a trip on offer or the works you need to open your business. In all these cases, waiting for the financing to arrive makes you lose money. And it’s something that, logically, you’re not going to want to happen.
Therefore, the first thing you need is to opt for a financial product like the one we are presenting to you, since your concession has not to go through the cumbersome formalities and usual requirements in the banks of a lifetime. Now you can make all the necessary arrangements online.
And this, without a doubt, is one of the reasons that will allow you to count, once the loan is granted, with the money in less than a quarter of an hour. Keep in mind that you will save the presentation of documents in a physical location, with the loss of time and money that this meant. You can carry out the necessary arrangements from your home at any time.
You only have to enter our website and register as a user. Our platform, on the other hand, gives you the opportunities to enter your personal and banking information (the minimum information we can ask for) and, later, select the conditions (amount and term for the return) of the loan you want.
These simple guidelines are enough for you to enjoy the money you require in your checking account as quickly as possible, ready to be spent on the right things. This agility is one of the main advantages of the immediate loans.
In addition, the proliferation of borrowing entities makes you have dozens and dozens of possibilities so it is one hundred percent sure that you will find the product that fits perfectly with your current situation, whatever, feeling, with it, truly comfortable to the time to receive and return the borrowed money.
In short, with an immediate loan you find that:
- You have cash very quickly.
- This allows you to solve urgent problems.
- Do not waste time in administrative procedures.
- You can access this product whenever you want, from your home, without being subject to schedules.
- The process is really simple.
- You have a wide variety of immediate products.
Disadvantages of immediate loans
Of course, at Astro Finance, we are completely transparent when talking about absolutely all financial products, which is why we also want you to know what possible aspects may result, depending on the case, negative should be considered.
They are usually small amounts
In general, this type of loan is very limited in terms of quantity. In general, you will find maximums of 30 euros, although it is true that you are betting more and more to reach 1000 or 1200 euros, in order to reach a larger audience.
It is possible that, depending on the lender entity you choose, your maximum falls short. If this is not the case, forget what we just told you.
As is evident, the availability of money quickly and without conditions must have a ‘but’. In this case, we talk about the interests to be returned, which are higher than for other products.
However, breaking a lance in favor of our collaborators, we have to say that it is becoming very expensive to offer a first immediate loan without interest as an effective way to get clients.
Solvency plays against us
That the solvency is not analyzed, which seems to be something positive, is a double-edged sword precisely when it comes to calculating those interests that we have just mentioned.
The entity will consider that a high interest is paid to compensate the possible defaults; it is something like ‘we pay righteous for sinners’.
Lack of legal regulation
Loans of less than 200 euros do not even meet the requirements indicated in Law 16/2011 regarding consumer credit contracts and many of the immediate loans are not supervised by the Bank of Spain.
In any case, it is understood that, since we are the beneficiaries for obtaining the money, we rarely need this support.
In short, we find that:
- The amounts offered may not be sufficient for our particular case.
- We are going to pay more interest both for the immediacy and for the mutualization of the risk of general default.
- We are not fully legally protected.
Obviously, we are facing an attractive product that offers a lot in exchange for very little because there are cases in which having that money, however little, is truly necessary, not only to face any aspect of the day to day but, as we have indicated before, to take advantage of certain situations that, if not given, would make us stop winning and even lose money.
Like the others, it has many advantages and also some drawbacks, so, do not hesitate to reread this article until all your doubts are resolved and you can make the decision that is most appropriate in your particular situation.