Online loans are more expensive but faster, which is why more and more people request loans online .
It is no news to say that online loans are characterized by being more expensive than loans processed as usual, in person by email.
Those who process these credits are also aware of this being something that they accept before even asking for a loan .
Why are online loans more expensive?
They are because the financial companies that process them assume a greater risk for signing the loans.
You have to take into account that the financial companies give answers even on the same day.
Some can even give an answer in less than 30 minutes, being something that is not much like how the usual banks work.
As the answer is so fast, the financial companies cannot in any case carry out a procedure as elaborate as, on the contrary, if the banks can do it.
Banks when signing a loan can spend several weeks between analyzing the creditworthiness of their clients and deciding whether or not it is worth signing the loan.
Companies that make online loans base their processing on a few variables, thus making the risk for them much greater.
Why do you think the bank delinquency rate is so low?
It is because of the amount of things that clients are asked to verify their financial situation and be able to do a better study.
The banks only detect that whoever is asking for the money is not 100% solvent, they directly reject the operation.
Instead, the online financial companies most likely have not been able to obtain all the information they need from their clients in the process.
What variables do these finance companies use to approve loans?
Above all, there are two variables, the income of the person asking for the money and the presence of the Credit Checker.
Yes, there are online loans that can be processed even with Credit Checker but not mostly in the financial system.
Online loans, being this mostly micro loans and small loans, usually deny the client when he is in one of these lists of defaulters.
In these situations, what clients will do would be to go to another type of online credit such as those signed between individuals.
They will also be managed through the internet, only that the processing time will almost certainly be longer.
Because although online loans most associate them as microcredits and reduced personal loans, within these there are everything from mortgage loans to business loans.
In maoriart.net we manage some of these credits directly, thus allowing clients to find the credit they need at all times.
By the way, if you are one of those people who still do not know if it is in any of these records or you cannot find out on the web the list of delinquencies that correspond.
In the following article we will discuss the cost of these loans in comparison with those that are signed by banks.
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