What is a micro loan

 

An alternative but completely transparent and safe way to get a loan.

 

This is generally a non-finalized loan, and this means that in order to be obtained, it is not necessary to specify at the time of signing what are the reasons why it is requested or what is the project in which the amount obtained will be invested.

A peculiar characteristic of this form of credit, as perhaps already evident in the name, lies in the amount payable. A "micro" entity, which as such will have to be repaid even in shorter times than conventional loans. Generally, the value of a micro loan ranges between € 500 and € 3,000, and must be repaid not earlier than 30 days or later than 24 months.

 

Together with other products, such as loans without paychecks or peer loans, micro loans share the characteristic of being available online especially. By their very nature they are therefore "spearheads" in the credit offerings of virtual banks and financial companies, which tend to require much less guarantees than a physical institution to start financing practices.

 

The small amount of the sum is in itself a low risk factor for those who have to lend it (in other words, an insolvent creditor is better for a sum of € 500 rather than one of € 50,000); this factor adds to those described above regarding the ease of obtaining credit.

 

Microprestito: who can get it and how to apply for it

 

To sum up what has been said so far, we will therefore say that, net of the specific cases of each individual proposal, you can apply for an online micro loan:

 

• who does not have a paycheck;

• state or private employees who already have a loan in progress, for example the transfer of the fifth;

• retirees;

• bad payers or protested.