The vast majority of people have to resort at some time to financial credits to carry out financial projects. To do it in the best conditions it is best to know all the lenders with whom we can get that financing. Depending on what we need, it will be better to contract one product or another and from the financial comparator HelpMyCash we offer everything you need before contacting one of the multiple money lenders that exist.
What money lenders currently exist?
The financial market has changed radically in recent years, which has made the number of financial lenders that can be used today is much wider than a few years ago. First we have to know that by the concept money lenders today we understand any entity that offers financial credits that are reimbursed in a period of time with a series of interests and, in some cases, with additional charges for management expenses.
As we said, the supply of loans has diversified a lot in recent years- pop over to this website evridiki-studios.com/how-to-get-a-totally-free-credit-report Evridiki Studios. The reason is that with the crisis banks tightened the requirements to access loans and many people were left without options to turn to at times of higher spending. In this context, numerous private equity companies emerged offering loans to people who did not have access to financing, since the conditions they put and put are more flexible. Therefore, we can point out that there are two types of money lenders with which we can get financing:
- Private equity companies : these lenders have recently arrived in our country with the most varied loans. On the one hand, in many cases they offer quick loans of relatively small amounts and with very short repayment terms. On the other hand, we will also have access to very high amounts for those who will demand few requirements, as long as we have a home as collateral.
- Banks: conventional entities continue to be a source of funding to which we can turn. Loans tend to have higher amounts, generally and will allow us to finance housing or other large-scale projects.
Depending on several conditions and our financial situation, it will be better to resort to one or another money lender and also to different types of products.
Products offered by banks and private equity companies
As we mentioned in the previous section, depending on the economic need we have and the state of our pocket. For that we must know that the types of products that we can contract with some and with other money lenders are very diverse. On the one hand, with private equity companies we can achieve:
- Mini-credits : small amounts that do not usually give us more than 1,000 and that stand out for their speed in both the application and the concession, in addition to the flexible conditions they demand. The interests tend to be higher, since the immediacy service is paid.
Fast loans: if we need fast financing and with few requirements but the amount of the mini credits is not enough, we can resort to this type of loans. With them,online . we can get higher amounts that are reimbursed in several monthly installments.
- Loans with mortgage guarantee: there are several private equity companies that will grant us very high amounts, even with outstanding debts. However, we will need a home as a guarantee of payment, which we can lose if we do not pay.
- P2P: there are crowdfunding platforms for private investors to invest in particular projects.
In turn, banks continue to have several products that we can obtain today and that have different characteristics from those of private money lenders:
- Personal bank loans: conventional entities will not offer the possibility of obtaining loans with high amounts to carry out personal projects.
- Mortgages: few people can finance the purchase of a home with money from their own pocket, so banks allow us to carry out a project of this magnitude granting this type of loan.
- Credit cards: a good way to finance our purchases instantly is by hiring a card or line of credit, with which we will have liquidity instantly.
The difference between the financial products that we can get with each one of the money lenders that exist today is varied and we will have to think carefully about the type of loan that best suits our pocket and our needs.
How does the money lender affect the online world?
As we have already pointed out, the financial crisis that began back in 2008 and the consequent loss of liquidity by the banks helped private capital companies to appear. However, these money lenders were also able to rely on other issues, such as the rise of the online world.
The banking sector had been conservative with the fact of immersing itself in the world of the Internet. However, the private lenders came offering a product that could be requested and hired, in many caseonline.This has generated that banks also bet on promoting their products through the Internet and allow us to enjoy applying for online financing, saving us the classic trips to the branch and the long queues.
Even, as we have indicated at the top of this page, it is also possible to get P2P through specific platforms that have emerged on the Internet.