Microcredit is a type of loan granted by the financial institution which does not require as much documentation. It is created by the bank with the intention of serving as a support tool for new entrepreneurs , and in this way favoring that part of the population that does not have a fixed income but who need to access a credit to be able to develop that activity or trade that will generate income. There are three ways to apply for a microcredit, but then what is the best way to obtain a microcredit in New York .
Due to the economic crisis that affects all social classes in New York , financial institutions devised microcredits , for those people who need a loan of a small amount of money, without having to present as much documentation or guarantees.
Now, there are several ways in which a person can access microcredits in New York , this will depend on the amount you need to request. Below I will indicate the options you have to apply for a microcredit .
The microcredit requested in a bank
The banks devised this form of money loan , for those people whose income is low or even scarce, and cannot access traditional financial credits. For this reason, microcredit arises, as an instrument designed so that people with low resources can also access this kind of services . And thus, to achieve that goal of developing a small or medium commercial business, which can generate the income to pay the microcredit payments , and live an economically stable life with his family.
One of the ways for Spanish citizens to request a microcredit is through a bank . For this, the person must mainly carry a viable and profitable project, in which the vision and objectives that he wishes to achieve are indicated .
That is, you must state how or in what you are going to invest the amount of money you are requesting in the microcredit . Because they are a public banking entity, they tend to be tougher with the requirements and their approval. The maximum amount that the client will obtain in public banking is 25 . 000 euros .
The microcredit requested in a savings bank
Despite the fact that banks offer Spanish citizens this kind of loan, they often find them negative for not meeting any requirement. For this reason, the microcredits granted by savings banks such as Caixa Catalunya and Caja Granada arose in 2001, in support of this group of people who have an idea to establish a small or medium business , but do not have the financial resources to do so. .
This is the most used and best way to obtain a microcredit in New York . This type of loan is usually requested by entrepreneurs or freelancers, by young people who do not have economic capacity, by Spanish people or immigrants who have problems accessing the labor market, by women, or people with a disability.
In New York there are 21 savings banks that offer this microcredit service . The interest rate is usually lower than in banks. The amount approved does not vary, the maximum is 25,000 euros. In 90% of the cases they do not require commissions.
They offer between 3 to 8 months of absence of payment of fees, giving the worker the opportunity to establish themselves economically. The period imposed as the term for the cancellation of the money is from five to twenty years. Due to these characteristics, the best way to request a microcredit for Spanish citizens is through savings banks .
The microcredit requested on the internet
Yes, as you read, currently and with the advancement of technology, some private financial entities gave Spanish citizens the possibility of accessing microcredits through pages or websites .
When applying for the microcredit online, it will not be necessary to present any document, since everything is done online . However, the amount that can be accessed is from a minimum of 50 euros to a maximum of 750 euros .
Microcredits requested through the internet are usually a kind of financing that serves so that the person who needs the money urgently can cover that unforeseen event. It can be requested by a web page or by an application on your Smartphone .
Similarly, the person chooses the period to cancel it, which can be in a single monthly installment or up to a maximum of thirty monthly installments. This will depend on the conditions of the online financial institution that the person is using to apply for the microcredit.