A mini payday loan, i.e. what is a pocket loan? Who can get a mini payday pay? Can a person in debt apply for a mini payday loan? How to apply for a pocket loan?
Mini payday loans – where to look for payday loans offers up to USD 500? What can you spend your money on mini payday loans? Pocket loan – what should you watch out for?
Mini payday loan, i.e. what is a pocket loan?
To fill your portfolio shortages, you can use various types of financial products today. With larger expenses, loans and credits that are available in large amounts and can be repaid in convenient monthly installments will be helpful. However, what if you literally run out of several hundred zlotys?
Payday loans, which are simple loans with a repayment period of up to 30 days, are ideal. It is a product that allows you to enter into a commitment for any purpose, both in a larger amount and in the range from 100 to 500 USD.
This mini payday loan is offered by many companies providing services via the Internet. Although there is usually no special name, it is colloquially referred to as a pocket loan , because it is used to cover small, everyday expenses that have unexpectedly run out of money.
Who can get a mini payday pay?
As the name suggests, this type of cash loan is intended for people who need a small amount of money urgently for a short time (it can be said “for a while”). The reason for using such small payday loans is usually an unexpected expense for which there was not enough money in the home budget.
To meet this type of needs, lenders offer extremely simple loans via the Internet, which requires virtually no formalities or excessive requirements.
In practice, mini payday loans up to USD 500 can be used by people who:
- they are at least 18 years old (only in some companies the minimum age is slightly higher e.g. 21 years),
- have Polish citizenship and a valid ID card,
- have their bank account, email address and mobile phone number,
- have full legal capacity,
- are able to pay their liabilities, i.e. they have creditworthiness.
Remember that each company uses slightly different procedures and requirements, so you should read them on the lender’s website before submitting the application.
Can a person in debt apply for a mini payday loan?
Non-bank pocket loans are quite often interested in indebted persons who thanks to them want to save their home budget or even use them to settle other liabilities.
In many cases, such a mini payday loan is available to them, because some companies when granting loans in low amounts do not thoroughly examine creditworthiness, and sometimes do not even check GC and GFI registers.
All they need is a borrower’s statement about the amount of income and permanent financial burden to be entered in the online loan application.
Most companies, however, warn against the use of debtors’ registers and the Good Finance Information, which is why people with negative entries in such places have to take into account the risk of refusing a loan.
Before submitting the application, it is worth checking exactly which registers a given company checks, or look for one that offers loans without GC or GFI.