If your earnings are relatively low or you have some “scratch” in the registers, the bank or ordinary non-bank company may call you a “problem client” and will refuse to lend you money. But there are companies that focus on this type of clients. Especially among the so-called SMS loans, we find a number of them. What are their parameters, advantages and disadvantages?
Loans for everyone
SMS loans for troubled clients are intended for all applicants who have lower income or have had problems repaying other loans in the past. If a bank refuses someone, there’s no reason to throw a flint into a rye. A simple and fast loan can now be obtained online via the Internet or via SMS.
Small but quick
In some life situations, the maximum loan amount may not matter. Sometimes you don’t need a lot of money, but you need it right away. The SMS loan is so fast that within a few minutes of posting the applicant learns about the approval or rejection of the loan and sending money to the account is then a matter of seconds. Funds can then be used for anything – a new refrigerator, car repair, payment of bills, etc.
Benefits to regular clients
As a rule, a quick loan to an account can be requested again once it has been properly repaid. And often it is possible to ask for a higher amount. If, for example, a maximum of CZK 4,000 is a maximum for the first application, it can be as much as CZK 8,000 for the second loan, and even more for the third. It is not uncommon to get up to CZK 20,000 (for example, with Kredito24).
An important feature of these quick SMS loans is also the clear and clear conditions under which the loan can be obtained. After a thorough reading and understanding of the contract and general business terms, nothing should surprise the applicant.
In any case, it should be borne in mind that this type of financial product should only serve as an emergency solution to the acute shortage and should not be a common way to improve the family budget. Charges for these loans are very high, and if small quick loans become your lifestyle, you can get into a debt spiral.