Month: February 2020

Micro loans: Small loans and mini loans without credit record

Lenders market micro-loans, mini-loans and small loans such as sms loans or fast loans. You can take small loans and mini loans directly without credit record or income and also with payment note, in addition, the payments are usually fast. About 10 years ago, the concept of micro-loans was highlighted. The basic idea here is that private individuals should be able to borrow a small amount of money during the day without security quickly and easily. In Sweden, mini loans and small loans have been offered since 2006.


What are micro loans and small loans?

What are micro loans and small loans?

A micro loan is a bit as it sounds, a mini loan that is not as large as one can in most cases take without security. In addition, you can often take it with a payment note. Because a small loan does not require any collateral, you can buy what you want with the loan or do what you want with the money. The lender does not require you to explain what you are going to spend the money on. Micro loans are thus small loans that are quickly paid off to your account. Often, there is a short repayment period and slightly higher interest rates than other types of loans. If you are looking for a smaller loan and if you may have payment notes then this is a good option. In addition, you usually do not have credit information at credit record.


Direct loan with BankID

Direct loan with BankID

Actually, there does not need to be any difference between mini-loans, micro-loans and fast loans. It depends on the interest rate the different loans have. A small loan does not have to have as high interest rates as a fast loan, which almost always has a higher interest rate. When applying for a mini-loan, it is no more difficult than any other loan. You fill out the loan form of the desired lender. You then verify the application through mobile BankID and then get the message directly on the screen. A credit report always happens, but when it comes to micro-loans, you usually do this at Astro Credit or BizMode.The money can be held in the account on the same day the loan was granted, but it depends on the lender and at which bank you have your account.


Micro-loans and mini-loans with payment note and without credit record

Micro-loans and mini-loans with payment note and without credit record

Today it is quite possible to get a micro loan without credit record granted despite having one or more payment notes. Usually, the lender then makes an individual assessment when applying for the micro loan. The assessment is instead based on your financial conditions and not on your financial history. When applying for a small loan, however, you always make a credit report. This is a requirement of all lenders in Sweden. However, you do not always use credit record when making information. Without lenders can use alternative information companies such as BizMode and Astro Credit. The advantage of alternative information companies is that the credit information is not visible at credit record. Which is a big advantage if you are applying for larger loans in the future.


Is it possible to take a micro loan without credit information?

credit loans

No, there will always be a credit report if you take a micro loan. All loans over $80,000 today require that you take a credit record check. As we mentioned, most mortgage loans and micro loans are without credit record, but you can also take larger loans up to $150,000. This means that all small loans up to it can be without credit record.


Small loans without income

Small loans without income

Sometimes it may be that you have no declared income. You may have just got a job and simply haven’t been able to declare yet. Or maybe you are a student or a pensioner. No matter what, it is actually possible to take small loans and micro loans without income. For this to be possible, you may need to prove that your current finances are sufficient after you pay all other bills each month. This can be substantiated by means of salary specifications, work certificates or other.


To think about before taking a micro loan directly

A micro loan is best suited when you are looking for a small amount of money directly. What one should keep in mind is that the effective interest rate may be higher than other types of loans, such as private loans and interbank loans. The interest rate is usually a little higher because you can take the loan without credit record and that you can usually have payment notes. This entails a higher risk for the lender, which results in a higher interest rate. What you should always keep in mind is not to take a mini loan unless it is necessary, which can sometimes be difficult to determine.

Categories: Uncategorized

Unknown sms loans :Less known lenders

Finding new, unknown sms loans and lenders is not always easy. However, it may be beneficial if you come across an unknown loan. There are many new lenders out there that offer loans without credit record. Furthermore, you can also find unknown loans that even people with payment notes can take. Thus, it may be good to look for unknown lenders when taking a quick loan or sms loan. Everyone can end up in a situation where you need to clear out the cash register. For example, it could be if the car breaks down, or if you are on vacation and the cash register has run out. Then it is good that there are unknown loans that you can also get with payment notes. In addition, you can find new lenders who grant loans without interest.


Unknown sms loans without credit record

Unknown sms loans without credit record

Many credit reports at credit record can affect your credit rating. Thus, you want to avoid a credit record to the extent possible. There are many unknown sms loans that offer micro loans and loans without credit record. Instead, these new lenders use other credit information companies such as Lendrite and Astro Lending . Thus, with unknown sms loans, you can ensure that your credit rating is not affected when you take a sms loan . If you only need to take a micro loan, ie borrow a smaller amount of money, then an unknown lender is a good alternative.


Direct payment around the clock

Direct payment around the clock

If you use a lender using Astro Lending or Lendrite, you will in many cases also have the opportunity to have the money paid directly to the account . It can happen already on the same day and also around the clock . Then check if the lender has direct payment to the same major bank with which you have an account. For example, it could be Best Bank, MoneyHatch Bank or Lending Bank. Some lenders even pay out the money 10 – 15 minutes after your application has been approved.


New unknown lenders offer interest-free sms loans

sms loans

There are constantly new unknown lenders in the market that offer both fast loans and account loans. With these unknown sms loans you can often borrow money without interest , up to 30 days interest free. Thus, loans are basically free . Therefore, it is important to also look for unknown lenders when you are taking out loans. With a lesser known lender, your loan can be much cheaper than it otherwise would have been. Many other fast loans and bank credit that are known offer high-interest loans. If you want to avoid high interest rates, you should look for a more unknown loan.


Unknown lenders accepting payment note

Unknown lenders accepting payment note

When looking for unknown sms loans with payment notes , it can be difficult to find a lender who grants your loan application. We recommend that you contact an unknown lender who accepts payment remarks. New lesser known lenders in the market are also more likely to grant your loan. You can also find interest-free loans that accept payment remarks. Finally, there are many advantages to unknown lenders. You can find sms loans without credit record, despite remarks and without interest. But don’t forget that many established players also have the opportunity to lend you money. So it doesn’t always have to be that lesser-known lenders will guarantee you a loan. Then it might be a good idea to go to a well-known actor instead.

Categories: Uncategorized

Employer Loans: Benefits, Entitlement, Interest Rate and Tips

Employer loans are also called employee loans or personal loans. Both employer loans and installment loans to employees are referred to as employee loans. A distinction to be made from an employer loan is to make early wages or salary payments, colloquially known as “advance payments”.

In the case of an employer loan, the employer grants loans as part of the company social benefits. The parties involved individually determine the amount of the loan and the term. The loans can be short-term to compensate for financial emergencies or long-term for larger financing goals. Sometimes only a few hundred dollars are needed to save the employee from a financial shortage. But consumer loans in higher sums are also possible. Companies can also set up special home finance programs, which result in a high loan and a long term. Long-term planning is particularly advisable for larger loan amounts, because smaller companies cannot spontaneously raise or release large amounts.


Benefits for workers

work loan

As a rule, interest rates are relatively cheap compared to bank loans and the employee is more independent of banking.

The employer can use this loan specifically for employee retention. For him, the credit risk is also lower than it would be for banks. Because he has direct access to the wages accruing for the debtor’s benefit and relative security through the employment relationship.


Who can access employer loans?

Employer loans exist in all economic sectors. However, they are subject to special legal provisions in banking. For example, loans to bank employees in managerial positions may only be granted by decision of all managing directors and on market terms. In other companies, works councils are subject to co-determination if several employer loans should be granted, because that falls into the company’s wages.


Is there a right to an employer loan?

employer loans?

Providing employer loans is a voluntary decision by the employer, and there is no obligation to do so. However, if an employee is granted one, others in the company are also entitled to it. Because the principle of equal treatment applies. However, workers who are already deeply indebted or who have given notice of termination can be denied the loan. As a rule, trainees, employees during the probationary period and employees with fixed-term contracts are also excluded from the employer loan.


Who do I ask for an employer loan?

In smaller companies, the boss is responsible for the request for the employer loan. The personnel position or the works council are the right contacts in larger companies to get information first. A company agreement may already regulate the granting of an employer loan.


Contractually fix the agreement

employer loan?

In order for the loan relationship to be legally secure, it must be contractually fixed. The agreements that must be recorded in writing include the determination of:

  • Loan amount
  • Redemption modalities
  • interest
  • running time
  • Collateral Loan
  • Procedure for termination of employment


Calculate the interest rate and the monetary benefit

Compared to banks, employers usually offer lower interest rates on loans. The monetary benefit resulting from this interest rate difference must be taxed. To determine the advantage, the market interest rate (standard interest rate) serves as an orientation.

The easiest way to calculate the standard interest rate is to deduct four percent from the effective interest rates for the type of loan that the Best Lenders Bank recently published. If the interest rate on the employer loan is less than 96 percent of these effective interest rates, the interest benefit must be taxed as a non-cash benefit. If the employer waives interest, the entire loan is subject to income tax liability.


The repayment

credit loans

The repayment modalities are determined individually. For example, for repayment, it can be agreed that the employer retains part of the employee’s remuneration each month – until the loan is repaid in full. The usual legal garnishment limits must be observed.

The employee is obliged to repay the loan in full. If this is not the case or if the entrepreneur waives the repayment, the sum is considered wages. This is fully taxable as part of the income tax.


What happens when the employment relationship ends?

A strict distinction must be made between the employment relationship and the obligation relationship. An end of the employment relationship does not mean at the same time the automatic termination of the loan contract and an early recovery. This is at least true if the agreements are contractually correctly regulated in the event of termination. Then the loan contract continues, there may be an opportunity to raise the interest rate to the market level. If there is no need agreement, the employer may be able to request total repayment within three months.

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