Loan Products

Loan ProductsA loan is the issuance of funds in the agreed amount by transfer to an account, card or in cash. Terms for issuing loans: payment, urgency and repayment. This means that you will have to pay interest or commission (or both) for the service provided, as well as return the funds taken within a certain period. The simplified procedure for obtaining and the short term of the agreement are the differences between loans and credits.

Loan types

General types of loans in MFIs:

By the method of issuance, loans are distinguished:

By the way of servicing:

By payment option:

By the way of registration:

Online loans without collateral or surety take the lead.

Advantages and disadvantages

Like any loan product from payday loans Kankakee IL, loans have their positive and negative properties.



Loans can be: with or without collateral, with or without guarantors. As a rule, microfinance organizations issue only relatively small loans unsecured and without guarantors.