The new online small loans are a very smart way to get the financing you need, without losing too much time and with the peace of mind of requesting quality financing. But, to be able to do it the best possible at the time of sending your request, to receive the money and to return it in the term, there are some points that you must take into account. Let’s see what they are.
What you need to know about new small loans online
Online small loans have been created to reach as many people as possible if they need urgent funding. Since 2008 they have been doing with a large part of the financing market in Spain and, currently, they are one of the main sources of financing. But before launching you to request a loan of this type, there are some points that you must take into account.
The amount and term you should choose
When you are in a situation where you need money urgently, using an online credit is a viable solution and can be very smart. If you use this method of financing well, it can be your best ally. However, if you do not choose the amount and the term well, you may find yourself involved in some difficulty.
Generally, loans are requested to cover a need. If that need is, for example, 400 euros, it is important that the amount you request to cover it is not higher. Why? Because loans increase your interest the greater the amount requested. If you want to save the most and it is easier to return it, it is important that you define this amount well.
The same applies to the term: if you choose a very long term, the interest will be higher. Therefore, if you know, for sure, that in 15 days you will be able to return the money, it is not necessary that you request it within 30 days.
Requirements to request a small loan
Sometimes we send requests without taking into account the requirements of the lender. And, although the requirements in online small loans are very easy to comply with, they can not be ignored. Let’s see what are, as a general rule, the most common requirements in this type of financing.
- Be of age.
- Be a resident within Spanish territory in a legal manner, that is, with a DNI or NIE that verifies it.
- Have sufficient, regular and demonstrable income to repay the loan within the agreed term.
- Have a bank account in your name in which the entity can make the money transfer.
- Have a phone number and an email where the company can get in touch with you easily and quickly.
As you can see, they are very simple requirements since payroll is not required and, in many cases, you can request it even if you are in Financial Credit Institutions. But these are requirements that you must take into account before investing the time to send the request.
What happens if you can not return it
If you are aware that you can not return the money you are going to request, it is better that you look for another solution to find the money you need. But, if you thought you could return it and the date arrived you will not be able, in many cases you can contact the lender to find a solution.
Many lenders offer an extension of 7, 15 or 30 extra days to repay the loan. If you believe that you will not be able to return it on the date, it is better to contact them to request this extension than to incur a non-payment. Remember that defaults involve large expenses and even judicial measures.
Now that you know all these points and keep them in mind, it will be much easier for you to apply for new small loans online and complete the entire management successfully.