When thinking about project financing, the possibility of credit is always included in order to achieve the objective. But there is a method that not all entities offer, microcredit, aimed at people who do not have access to the regular credit system that commercial banks usually offer.
It is actually very small loans that are offered to individuals in order to solve an urgent need , or to people with very low resources. In some countries, microcredit is the lifeline for some families.
Banks, as a general rule, only lend money to those who already have it, and they demand enormous requirements to grant a loan.
A system full of advantages
It is often believed that the poorest people will not respond correctly to the commitment made when issuing a loan, but statistics show that the poor are less delinquent than other social sectors , and that is why microcredit has been a success around the world. In addition, the financial history that the holders acquire serves to later access greater loans and they do not want to tarnish it.
For the beneficiary, the advantages are obvious:
- Credit is approved immediately
- The interest rate is the lowest in the market
- The amounts are small so the fees are too
- They generate a clean credit history
- They cover the needs of the beneficiary in critical moments
- If the beneficiary dies, the debt is canceled and the family members do not get into debt
- They do not require endorsement
Multiple possibilities at the click of a button
If you are wondering in which institutions it is possible to obtain one of these microcredits, the answer is at your fingertips. On the microcredits.com website there is a list of all the microcredit products available in Spain and, if the objective is to obtain a quick investment, it is highly recommended to take it into account.
This type of loan can benefit not so small projects, since some, such as EVO Finance personal loans, offer up to 30,000 euros at advantageous conditions.
It is also possible to obtain a much smaller loan, for those who simply need to solve a specific matter such as the repair of a machinery. In that case, the advisable thing is the personal loans up to 3,000 euros, or perhaps a quick credit which grants 2,500 euros with hardly any paperwork.
The possibilities are open despite the shocks of the economy, which is beginning to recover little by little. It is the moment to take advantage of all the opportunities to undertake, and the microcredits are postulated as a great option to start the plans and achieve the objectives as soon as possible.
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