Urgent lending is represented by offers from financial institutions. One of the most convenient options is the cash advance app. Here you can borrow money for any purpose in 15 minutes. The crediting of funds to the card is often done online, and also around the clock. Repayment of a short-term loan is made in one payment, but if necessary, extension or other options are available.
Why borrow money: when it makes sense to take a microloan rather than a loan
Financial companies involved in microcredit offer non-targeted loans. This means that the consumer can urgently get money for any need. There is no need to specify in the application or to report to the credit company where the money was spent. But from time to time organizations conduct studies that show what borrowers most often take out microloans for. The list of top reasons that prompt a person to take out a microloan includes:
- delayed payment of wages, pensions, scholarships, other accruals, which serve as a source of permanent monthly income;
- urgent, urgent expenses for which their own funds are not enough: medical treatment, medical examination, home or apartment repairs;
- payment of bills, fines, services: often a loan is needed to pay utility bills, internet bills, telephone bills, tax bills, etc.;
- repair, maintenance, and purchase of spare parts for a car, motorcycle or ATV;
- unexpected trips, unplanned vacations, business trips;
- holidays, events that cannot be postponed: weddings, birthdays, and so on;
- long-awaited purchases: equipment, clothes, jewelry;
- involvement in profitable investment projects, the profit of which exceeds the cost of servicing the microloan, such as work in the Forex market.
About 65% of borrowers decide to borrow money in the app because of the delay of wages. At the same time, half of consumers use loans because they have no alternative option to borrow money. More details at the link: https://apps.apple.com/us/app/cash-advance-tsaip-loan-app/id1492828465. A large percentage of customers of such apps are unable to access banking products and get rejected because of:
- bad credit history;
- low income;
- unofficial employment;
- past criminal record and other reasons.
Another good reason to take out a microloan is that it is fast, which in most cases takes about 15-20 minutes. If you use a modern application, the speed of getting the money can be even faster. Also appealing is the ability to get money to a bank card online without providing income statements.