{"id":257760,"date":"2022-04-23T17:11:00","date_gmt":"2022-04-23T14:11:00","guid":{"rendered":"https:\/\/finance.inform.click\/?p=257760"},"modified":"2022-04-26T03:05:31","modified_gmt":"2022-04-26T00:05:31","slug":"how-to-choose-an-mfi-and-get-a-guaranteed-microloan","status":"publish","type":"post","link":"https:\/\/finance.inform.click\/en\/how-to-choose-an-mfi-and-get-a-guaranteed-microloan\/","title":{"rendered":"How to choose an MFI and get a guaranteed microloan"},"content":{"rendered":"

Microloans are the fastest way to get money without proof of income. Money is transferred to a bank card or electronic wallet of the client 15-20 minutes after the application is submitted. MFIs specialize in issuing loans – microfinance organizations that work with money, but MFIs cannot be called a bank. And before choosing an MFI and getting a microloan<\/strong>, let's consider why.<\/p>\n

Differences between MFIs and banks<\/h2>\n

Microfinance organizations differ from banks in a limited range of financial products. In MFIs, you can only get a loan, and banks provide loans to people and companies, accept deposits, issue plastic cards, accept utility bills, and sell commemorative coins.<\/p>\n

MFI in the eyes of ordinary people is a company where you can quickly get a cash loan. The high speed of providing funds has a significant drawback – a high interest rate on a microloan.<\/p>\n

How to choose an MFI<\/h2>\n

To facilitate the selection of an MFI with suitable conditions, it is enough to use an online loan calculator. The list contains the necessary information for obtaining a microloan:<\/p>\n

    \n
  • interest rate;<\/li>\n
  • credit limit;<\/li>\n
  • loan term;<\/li>\n
  • Required documents;<\/li>\n
  • the time of consideration of the application;<\/li>\n
  • button to fill out the form.<\/li>\n<\/ul>\n

    How to get a microloan<\/h2>\n

    The borrower will only need a passport, or rather, data. Sometimes they may require a passport photo in electronic form, but this is more the exception than the rule. Passport scans are needed for security reasons to prevent fraudulent transactions with money.<\/p>\n

    Types of microloans<\/h3>\n

    Most microloans are issued for up to a month, so that the borrower can fully repay the resulting debt from the next salary. Sometimes you can take a loan from an MFI secured by a car or real estate. This significantly reduces the interest rate for the service, but you will have to provide documents for the property. Sometimes you even need to draw up a pledge agreement with a notary.<\/p>\n

    Where to find interest rate information<\/h3>\n

    Advertising materials indicate the interest rate for one day of using borrowed money. For a borrower, the figure of 0.5-2% looks insignificant, but if we calculate the interest rate in the traditional format for banks in the form of annual interest, we get a number in the amount of 180-700% per annum.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

    Microloans are the fastest way to get money without proof of income. Money is transferred to a bank card or electronic wallet of the client 15-20 minutes after the application is submitted.<\/p>\n","protected":false},"author":1,"featured_media":186121,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[840,1216,790],"tags":[],"class_list":["post-257760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-education","category-mikrofinanzierung-en","category-diversen-over-financien-en"],"_links":{"self":[{"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/posts\/257760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/comments?post=257760"}],"version-history":[{"count":0,"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/posts\/257760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/media\/186121"}],"wp:attachment":[{"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/media?parent=257760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/categories?post=257760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finance.inform.click\/en\/wp-json\/wp\/v2\/tags?post=257760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}