Discover what mini-loans consist of without requirements
Mini-loans are low-value non-bank loans that are requested and contracted in a matter of a few minutes. Normally, the amount of money they offer is very small, up to 300 euros for new customers, while the term to make the refund is usually 30 days maximum and have a cost that is around 1.1% daily. The process to request a mini loan without requirements is totally online, very agile and without paperwork, which allows companies to approve requests instantly.
This type of financing is designed to cover specific incidentals since they allow us to get money the same day of the application and without having to change banks or to contract other related products.
When we refer to the mini loans without requirements, we do not mean that there are not some minimum conditions that we must fulfill, however, these are very basic compared to other types of credits. In fact, one of the factors that allow these credits to be granted so quickly is that the documents that will require us are minimal, so that the company can analyze our application in less time.
Requirements to access a mini credit without requirements
Of course, no one will lend us money if we do not offer minimum payment guarantees, so no company will grant us their mini loans if we do not meet certain solvency requirements. However, it is true that the access conditions established by these companies are more flexible than those of the banks so that it is easier to obtain their financial products and that is why they are called mini loans without requirements. In general, these are the requirements that must be met to get mini-credits without paperwork :
Be of legal age and reside in the national territory. Some companies require a slightly higher minimum age (21 or 25 years) and have a DNI or NIE.
Have enough income to return the borrowed money. The source of income can be a payroll, a pension, an unemployment benefit, a scholarship, etc. As long as it allows us to repay the mini loans without problems when the term ends.
Not have unpaid debts. If our information appears in ASNEF, most lenders will not accept our application, although there are a few that do grant mini loans with flexible terms to people registered in delinquent registries.
If we meet all these requirements, the vast majority of lender companies will grant us the funding we need, since they will be enough to consider us valid applicants.
Documents to get mini loans without requirements
The quick mini-credits are characterized by making the management totally online, which will allow us to save unnecessary time in annoying paperwork. However, we must show personal records with which private equity companies will analyze our profile. The documents that private lenders will ask us will depend on the one we go to, however, most of them usually require the following:
Identity document: any document that proves our identity, our age of majority and that we reside in Spain.
Bank statement: so that the lenders certify that we have a regular, sufficient and justifiable income. In addition, it also allows companies to obtain the current account number where we want them to enter.
Proof of income: this document shows that we have the necessary income to be granted the money because it allows the company to verify that we can face the credit reimbursement.
Finally, in the case of those who appear in a delinquency record, it is also possible that they ask for a proof of the debt. This document must detail the amount and origin of the default for which we appear on the list.
5 steps to getting flexible mini-credits
Getting online Citrus North Loans today is very simple both because of the ease with which you can obtain approval and because of the speed of the application and grant process. The procedure to be followed to hire a product of this type may vary depending on the company we go to, but usually, we will always have to take these steps if we want to get mini loans without requirements in a few minutes:
Click on the “Hire” button of the mini-credit that interests us the most. If we process our application in more than one company, we will increase our chances of getting a mini loan without strict conditions.
Select the desired amount and term in your simulator. With this calculator, we will be able to know how much we will pay in total and when we will have to return it before entering our personal data.
Fill in the form with the data requested and send it along with the required documentation. In general, to obtain a mini-credit we must send a photocopy of the identity document, a proof of income and a bank statement of our expenses and recurring income.
Accept the terms and conditions of the contract in the event that our request has been approved.
After signing the contract, we will receive the mini-credit money in our checking account.
It is a simple process that we can perform in a matter of minutes and from any device that has an Internet connection. Therefore, we will not have to wait for hours to know if we will have the money in our account to cover the unforeseen or not.
Is it safe to hire mini-credits without requirements?
Yes. Entities that offer mini-loans, although granted by non-bank companies, are safe. However, when dealing with online mini-credits we must be careful with supposed lenders who will try to deceive us. Luckily, differentiating safe and legitimate businesses from the rest is easy. In this video, Mini loans our financing expert explains the guidelines to which we must pay attention to get mini-loans with maximum Mini-loans instantly, without requirements are achieved very fast
Companies need very little time to evaluate applications thanks to the computer programs they have that analyze millions of data in a matter of minutes. This fact allows them to approve the applications and transfer the money in a maximum of 10 or 15 minutes. However, there are several factors that may cause the income to be delayed and take up to two business days to reach our checking account.
This is due to the fact that mini-credits without requirements use accounts in one or more banks to make money transfers to their clients. As, by bank policy, transfers between different banks take longer. If we go to a mini-loan that does not have an account in our same bank, the money will take longer to arrive.
Will they grant us mini loans without requirements with ASNEF?
Yes, some private lenders offer easy mini loans that allow you to get fast money if we appear in a delinquency list as ASNEF. This type of loans will have the same characteristics as the other mini loans, as well as, they will request the same requirements. However, we will have to meet two additional requirements of the outstanding debt:
Non-payment cannot be linked to a bank: they will not grant us the requested capital if the debt has been contracted with a bank.
The outstanding debt cannot exceed 500 euros: the limit figure will depend on the private lender that we use, some of them set a maximum of 200 euros and others of 1,000 euros.
If we do not meet the two requirements, it will not be possible to obtain the mini-loan with ASNEF, since the private equity companies will not be certain that we will be able to face the reimbursement.
Are the mini loans without requirements regulated?
Yes Although the companies that sell mini loans are not supervised by the Bank of Spain, their activity must comply with the provisions of Law 22/2007, of July 11, on the commercialization of financial services for consumers. Likewise, minicréditos whose amount is at least 200 euros are also regulated by Law 16/2011, of June 24, consumer credit agreements, which includes, for example, the rights of consumers of these financial products.
In addition, many mini-credit companies are members or affiliated members of the Spanish Association of Microloans (AEMIP), an organization that self-regulates the sector of private lenders. The companies that belong to this training are obliged to comply with both the Spanish legality and the ethical code of good practices developed by the association itself, which gives them the right to wear the seal of the AEMIP on their web portals.