If you need to get financing quickly to finance any issue and you do not know what to do or how to get credits, here are the answers to all your questions. Discover below what types of cash loans you can contract, with which entities you can do it and what is the correct way to request them.
What do we mean by saying loans in cash?
When we talk about cash loans we are referring to an amount of money that an entity lends us and that we have to repay in a specific period of time and with some interest. These credits can be granted for a personal or business project or you can also grant them without asking us for an explanation regarding the purpose that we want to give. The loans will be entered into the current account that we indicate and we can take out the money we need in cash at any time.
There are also some loans that we can obtain directly in cash such as those granted and sent through Hal-Cash or bank loans granted through our entity’s ATM.
What cash credits can we contract?
Currently, the options we have to get money loans are numerous since, in recent years, the financial world has undergone a great evolution. On the one hand, the financial crisis that we have suffered in recent years and on the other hand, the arrival of new agents in the sector has meant that the variety of cash credits to which we have access is much greater than in the past.
Classic bank personal loans are still an option that many people use to get financing, as it offers many possibilities and large amounts of around 50,000 euros. Of course, mortgages are still another type of cash loans of a banking nature that many people request.
However, the arrival of new lenders allows us to get fast credits of amounts that can reach up to 2,500 euros in a matter of a quarter of an hour, with fewer requirements and with little paperwork. Also, with any of these private equity entities, we have the option to get up to 500,000 euros with mortgage loans.
Another possibility is to use online mini-credits granted by private equity financial institutions through a totally online process without paperwork. This type of financing product has an average interest rate of 1.1% daily and is usually reimbursed in a single one at 30 days. That is to say, a mini-loan of 100 euros to 30 days will cost us 35 euros for the accrued interest.
With the explosion of the Fintech sector, various alternative platforms have also appeared, from which we can obtain cash loans with very attractive conditions. The capital of the products granted through the so-called crowdlending platforms, loans between individuals or P2P, is not provided by any entity but is provided by independent investors interested in our particular or business project.
Who grants credits in Spain at present?
The cash loan offer is much broader than in the past. Not many years ago, when we wanted to get financing, we had to go repeatedly to the banks, but between the crisis and the reduction in the granting of financing by the banks and the arrival of private lenders, the outlook has changed. remarkable.
On the one hand, private lenders have been able to take advantage of the gap in the market left by the banks by neglecting a large number of people. With their quick credits easy to obtain due to their scarce requirements, these private equity financial entities have entered fully into the national financial market. With them, we can enjoy a loan in cash in less than a quarter of an hour. Not only that, but it is also possible to get home equity loans to get a larger cash loan.
We can also resort to P2P loans, that is, virtual platforms where people interested in getting financing to get in touch with users who want to invest in different projects. The interest we will pay for these loans will vary depending on the level of risk assigned to us by the medium.
Also, to this day, traditional banks continue to be the main providers of money credits. With your loans, we can get liquidity with very good conditions, although before hiring one of your products we will have to compare different offers to stay with the one with the lowest interest and the least number of additional costs.
How to contract loans in cash and online?
The emergence of new private lenders and alternative platforms has revolutionized the way to get payday advance. These financing providers require different requirements than traditional banks (especially companies not supervised by the BdE) and offer us the possibility of taking out loans in cash 100% online. The procedure we must follow to obtain their products will depend on each entity, but in general, these are the steps we will have to take:
- Insert the amount and term of the loan in cash that we want in the credit simulator of the entity.
- Complete the form with our personal data.
- Send the documents that the entity requires us to confirm the information of the form.
- Read the contract carefully and, if we agree with the clauses of it, sign it and send it again.
Once the entity receives the signed contract, it will make the transfer of the money quickly, although it may take us to receive the money up to 48 hours, since there are several factors that influence the time of the concession.
How long will the loans in cash in the account
Depending on the type of loan we hire, the concession time will vary. In large personal loans, the quickest concession time will be 48 hours in some entities, although it usually takes between 1 and 4 weeks. In the case of online mini-loans, the application and grant process is much faster. Normally we can get the loan in cash in our account in 15 minutes. However, although the money lenders make the transfer of money instantly, it will not always come to the moment. This is due to the particularity of transfers between accounts of different banks. As the private equity lenders do not have accounts in all the banks in the country, if we choose an entity that does not work with our bank, the money will take between 24 and 48 hours to arrive.