Don’t you trust companies that grant loans online? Are you afraid of the lenders that mask the conditions of your mini loans?
We are tired of checking how, through the fine print or increasing fees unexpectedly, there are companies that provide money online that require paying a very high amount to the originally established. This is perhaps one of the biggest problems when applying for a payday loan. The distrust that exists before this type of companies that promise all kinds of facilities at the beginning but that then have little to do with reality.
But, although it is difficult to believe, there is a company that, as the title says, does not seek to borrow more from its client. We talk about Single credit And where is the trick? You will be wondering.
Simply, Single credit earns money with the quick repayment of the loans granted. Therefore, their highest priority is to get their customers to return the money borrowed as soon as possible. They provide credits quickly and with a short-term return. Transparency is its best value. They do not want clients who cannot cope with their mini-loans.
Who is behind Single credit
Single credit is a Spanish company based in Barcelona that has been helping people with financial liquidity needs since 2011. They are specialized in granting short-term loans, facilitating a solution to those unforeseen economic issues that must be addressed quickly. They grant loans of up to € 3000.
If you are a new customer you can only request a maximum of € 600. Their system is based on mutual trust, so that their goal is not to grant as many loans as possible, but to grant those mini-loans that they know people can repay.
They are members of the National Consumer Institute and the National Association of Financial Credit Establishments. Having this support, you have the peace of mind that all the activities carried out by Single credit are controlled and supported by these recognized entities.
Requirements to request your payday loan
- Age between 18 and 80 years.
- Reside in Spain.
- Be an account holder in a national bank
- Have a mobile number.
- Have an email account.
- You do not need endorsement or payroll but a source of habitual income
As you will see these requirements, they are nothing from the other world and they are the ones that any other credit company is going to demand. But what makes Single credits different from its competition is that they make loans to freelancers and companies. Like granting credits to people who are enrolled in some list of delinquents such as financial credit institution.
How do I ask for my micro loan
We tell you all step by step how to apply for a payday loan with Single credit:
- Through your calculator you choose the amount of money you need and in how many days you want to return it. If you are a new customer you can only request up to € 600. This amount will increase as you gain the trust of Single credit. In this case you can request up to € 3000.
- Then fill out the short form that you will find under the calculator. (name, surname, ID, email).
- Single credits verifies your information and evaluates your request. If so, you will have the money immediately in your bank account. But beware, the availability of money will depend on whether the day is work or not and if your bank is part of the entities with which Single credits works.
Perhaps one of the least positive things is that you must send the application to know how many will be the occasional costs of requesting your loan. They are not included directly in your simulator. But yes, these costs will be fixed throughout the duration of your mini-loan.
Single credits does not want to surprise its customers at the last moment with new expenses. Remember that they are the first ones interested in having their users return the money within the established period.
Returns and expenses for delays
The money back can be made by making an deposit in any of your bank accounts or by bank transfer.
If the date on which you have to return your loan arrives you do not do so, Single credit will apply a penalty.
Unlike other companies, Single credit generally does not extend the term of the loan repayment. Before applying the penalty, always try to reach an agreement with you. If it is not achieved, it will impose a penalty of 20% of your total loan. It will increase interest until reaching an agreement with you. If after 45 days the debt has not been paid it will include your name in the list of delinquent financial credit institution.
This will have a direct impact on you since you will not be able to request other loans with Single credit or almost certainly with other companies that grant loans online. In addition, the collection of your loan will go to an external company. That is why before asking for any loan you have to be clear that you are going to be able to pay, so that the remedy is not worse than the disease.
The conditions at the time of requesting a credit are improving as more credits go asking and more confidence they have in you. If you return them before the set date you will have a discount.