After we are in a situation of debt and in need of money, I know that the first solution that goes through our head is the Payday Loan. I know, everyone should have a financial organization, but most of the time this is not the reality. The good news is that it’s never too late to start. And that question beats: where to get a Payday Loan?
Before starting to research where to hire your Payday Loan it is important to understand the reasons that led you to it, perhaps paying off a larger debt, opening a business, expanding a business or making a dream come true! Oh yes, you can start looking for the institution you want to hire.
Where to take out a Payday Loan
Today, online Payday Loan is the easiest and fastest to hire. You gain more autonomy when choosing the institution and your bank does not become the only way out. In addition to doing all of this from home! The options are innumerable and I will show you how each option works in addition to giving you some tips on how to know if the institution is safe!
Personal Credit Fintechs
Fintechs are some of the online institutions that can offer you credit. Hiring is usually quicker and easier because they are less dependent on the bureaucracies that a loan from your bank needs to go through. I have separated some safe Payday Loan options for you to know:
Of course, the online loan goes to make our life easier, but be careful! Since the fintechs appeared and this type of loan has gained strength, many people have fallen into the hands of scammers and lost money. So we made a video with 5 tips for you to never take this risk, see more:
And it is worth remembering that these and other secure institutions are on the Guiabolso platform. So, if you need money just go there, connect your accounts and we look for the best offer for you.
Asking for a Payday Loan at the bank is the best known modality, but not always the cheapest. There is usually a need to do everything in person and with all documents in hand.
With the arrival of new types of loan and fintechs intermediating these transactions, many banks have started offering the loan online. But usually banks only evaluate the user’s transactions at the institution itself to do their credit analysis.
They are private institutions very similar to banks, but they are much smaller and have limited activities. They specialize in offering loans and financing (from personal credit to asset financing) to investments. Among the options so far, they are usually the most expensive alternative.
They are regulated and supervised by the Cream Bank, but, unlike banks, they do not have a large “menu” of products and services. It is very common to find finance companies that are linked to large banks. Therefore, it is always important to check if the finance company is authorized even by the Cream Bank before hiring any product.
There is also a type of loan in which you take money from another person. It is called peer to peer (P2P), or person-to-person loan. This modality, still new in Brazil, came to facilitate the hiring of a personal credit and is also offered by fintechs .
Fintechs specializing in P2P loans will help you get credit as an individual or legal entity, they do a credit analysis to accept or not to lend the money and then, the interest and the agreement term are agreed. The modality is gaining strength because the interest paid may be lower than the market average!
And where does the money come from? The platforms combine several loan application contracts with the same profile in one package. And interested investors (people who have money left over) buy a part of that package. Interest paid to investors, in fact, is usually more attractive than traditional fixed income investments.
The biggest difference between a credit union, also known as a financial union, and a bank, is that the union is not for profit. It exists in order to assist its associates with financial products.
Cooperativism is a way in which society organizes itself through mutual help so that the common problems of members can be solved with collective efforts, carrying out actions that, possibly, would not have the results achieved individually.
The objectives of a credit union
Credit unions have a number of objectives to help their members. Among these objectives are:
- Establish easier ways to offer members access to credit and other types of financial products.
- Make the member willing and able to save money.
- Offer loans to members with lower interest rates than those practiced by the market.
- Development of the concepts of group spirit, solidarity and mutual help.
- Provide credit and banking assistance to members, offering more suitable conditions, promoting the development of the local economy and generating jobs and income.
The options for hiring Payday Loan online are several. It is worth evaluating all the possibilities before deciding the best one and finding the one that best suits your profile.