Small Loans: Amount and Characteristics

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For some time now, and especially since the universalization of the Internet, it is possible to get small loans, such as those offered by The Pay Day King, without having to turn to family and friends to face the unforeseen events that arise at the worst moment. Or simply, to give yourself that whim you’ve been thinking about for a long time.

Small loans, also called mini loans or quick mini-credits, are those whose amount does not exceed 750-800 euros and are repaid within a maximum period of 30 days. Amount more than enough to deal with breakdowns at home, in the car or pay any fine or bill that we have to pay urgently.

Small loans, also called mini loans or quick mini-credits, are those whose amount does not exceed 750-800 euros and are repaid within a maximum period of 30 days

Another common feature of small loans is that they are processed over the Internet, without the need for cumbersome bureaucratic procedures, since it is not common to find this type of product in the portfolios of traditional banks. Instead, banks offer what is known as consumer loans, which work with higher amounts and with sine qua non condition to be granted: you always have to account, through the legal documentation, of the end of the money.

Traditional banks rarely make small loans. These are normally requested online

Advantages of small loans

The first one is that in small loans, at least in The Pay Day King’s, it is the discretion and ease of doing everything online. In this entity, a subsidiary of the international group Kreditech, they offer mini loans of between 75 and 750 euros, to be repaid within a minimum period of one week and a maximum of 30 days through their website.

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The second is speed. Those who need money for an unforeseen need it at the moment and that is something that The Pay Day King professionals are very clear about. For this reason, they work with a state-of-the-art algorithm that, after a brief questionnaire, will confirm to the applicant whether or not their credit has been granted, avoiding burdensome and unnecessary waits. California payday loans

Another of its most attractive advantages is that they do not require payroll or endorsement and you can also get loans with The Pay Day King. They are, therefore, small loans accessible to everyone (retirees, students, self-employed …) and not only for workers with an established salary. When it comes to loans being on the delinquent list, obviously the volume of debt that has led someone to a delinquent list is taken into account, but small issues such as non-payment of a telephone bill are not an impediment to getting fast money on The Pay Day King.

Mini-credits are those whose maximum amount does not exceed 750-800 euros and are returned within a maximum period of one month

Regarding the conditions, in The Pay Day King, it is clear at all times how much the applicant will pay for their mini loan, from the moment they start the application until they decide to request the mini loan, being able to back out at any time. In fact, on The Pay Day King website, there is a loan simulator so that the user, before starting the application process, can discover the amount and the term that best suits their pocket.

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Another advantage is the requirements specifically demanded by this financial institution when granting credit online, which are reduced to

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