Advantages and disadvantages

Cash loans from MFIs differ from classic bank loans in terms of their receipt. One of them is the lack of checks on the borrower's solvency. Tell us the amount of cash and for what period you need it, how quickly and in what way you want to get it, and you will understand which financial product will best solve your financial problems.
Loans online are a minimum of time and effort when applying. There are other advantages, including:
• Anonymity. Microloans in MFIs are issued without the need for the participation of third parties, who will become guarantors of the return of funds. Information about the client's creditworthiness is obtained from the borrower's online questionnaire.
• Minimum requirements. In order to issue a microloan, it is enough to be able to act, to have a passport, personal identification number and a bank card with you.
When issuing a microloan, official confirmation of sources of income is not required. A low credit score or a history of late payments cannot be grounds for rejection. The probability of application approval is high.
The main disadvantage of online loans are the consequences that threaten the borrower in case of late repayment of the debt. In the best case, these are fines and penalties, in the worst case, communication with collectors. Therefore, before taking out a microloan, you need to weigh all the "pros" and "againsts" of such a decision, study the lending conditions.