Participants in the microfinance market note an increase in the share of microcredits that are issued for a long period – up to a year. But the maturities of such loans are also reduced, and loans are repaid ahead of schedule. According to Forbes in the fourth quarter of 2021, the share of long-term Hart Loan loans reached 33.3%, while in previous quarters it did not exceed 25%. Half of the prepaid loans at the end of last year were closed within the first 14 days. According to microfinance, this is because borrowers have become better versed in the product and calculate the savings in case of early closure.
According the main information portal for investors and businessmen in the United States, microcredit is now one of the most widespread digital services, as many users have appreciated its convenience and relevance in certain life situations.
Direct lender – profitable cooperation
There are two fundamental ways to get rid of the need to borrow money regularly. This is an increase in the income of an individual citizen or family and a reduction in expenses. Unfortunately, in most cases, both methods are not feasible in practice: wage growth is postponed until better economic times, and most of the costs are spent on food, inexpensive clothing, medicines, housing, communal services, mobile communications, transport, electricity, and heating. There is nothing special to save on: all expenditure items are vital. The solution is an urgent loan of a small amount of money from friends, relatives, or work colleagues, in extreme cases – from the bank in which your credit card is registered. But what to do if all the people around you are experiencing certain financial difficulties themselves, and the credit limit provided by the bank has been exhausted? Payday loans online direct lenders come to the rescue. The advantages of this method of obtaining the required amount of cash or non-cash money are obvious to anyone who has ever used this service. This is, first of all:
- Possibility to receive money quickly, usually within 15 minutes from the moment of application.
- Receiving money online, urgent transfer to a personal account.
- Providing loans without restrictions. Instead of collecting certificates about the place of work and the level of income, you simply indicate your data in the questionnaire (information from the passport and tax identification number).
- A microloan is provided even without a credit history check.
- The amount that you will receive as a result in your hands is not so large as to significantly burden your family budget in the future when you need to return the money.
Why do clients take microloans repeatedly?
HartLoan is an instant loan service in the US financial services market with vast experience. The main goal of the company is to simplify the receipt of borrowed funds as much as possible and make the services of MFIs available to a wide range of users.
Many are returning to re-apply payday loans online direct lenders. And this is no accident because according to many financial experts not only in the United States but throughout the world, microcredit is a quick way to solve any financial problem, transparent terms of cooperation, clear fulfillment of obligations, and loyalty to customers.