Obtain a personal micro credit online
Personal micro credit is a kind of consumer credit reserved for the most fragile people who wish to acquire a good and who cannot finance it without credit. In this article, we give you all the keys to obtaining a personal micro credit online.
Personal micro credit is a separate loan that stands out from other types of loans. It is in particular intended for people who cannot obtain credit in banking establishments, either because of their income considered too low, or because of their professional situation considered unstable.
Personal micro credit, a kind of consumer credit
Micro credit is consumer credit. Consumer credit concerns purchases other than real estate and loans up to US $ 75,000. When a borrower takes out a consumer loan, the amount of money borrowed must be repaid in installments.
There are two types of consumer credit: assigned credits and unallocated credits. Allocated credits finance an asset defined in advance (travel, car, fitting out a kitchen, etc.) while an unallocated credit allows the borrower to use the money as he wishes. Personal loans and personal micro loans fall into this category.
Consumer loans can also take the form of leasing with option to purchase (LOA). Often referred to as "leasing" and used for the purchase of a vehicle, this type of credit is not strictly speaking since it is in fact a rental including monthly payments paid to the financial institution each. month.
Consumer credit has a legal framework
The financial institution has an information obligation towards the subscriber. The law now imposes a certain amount of information on all credit offers, in particular its nature, duration, the annual percentage rate of the credit, the total cost of the operation, the number of maturities and the amount of each. between them.
The consumer code sets several rules for the form and conclusion of the contract in order to protect the consumer and allow him to choose the consumer credit best suited to his needs. These measures are as follows: submission of the standardized information sheet on credit and insurance, assessment of the borrower's solvency before the issuance of the prior offer, reflection period of 15 days from the issuance of the prior offer, withdrawal period of 7 days after signing the contract and terms of early repayment.
Who is personal micro credit intended for?
As we have seen, personal micro credit is reserved for a certain category of people who cannot take out classic consumer credit in financial establishments. It is intended in particular for people excluded from bank credit such as job seekers or recipients of minimum social benefits. In all cases, the applicant for personal micro credit will need to have a personal project aimed at social or professional integration. It will therefore be possible to use the money borrowed to purchase or repair a vehicle, to finance vocational training, to finance his driving license or even to finance health care that would be poorly reimbursed.
The sums that can be borrowed when subscribing to a personal micro credit online are generally quite low and depending on the borrower's income. Generally, they are between 300 US dollars and 5,000 US dollars and must be repaid in a minimum of six months and a maximum of four years. The credit rate, set by the lending financial institution, is generally between 1.5% and 4%.
Where to subscribe to a personal microcredit online?
When you want to subscribe to a personal microcredit online, it is not advisable to contact a bank directly, but rather to call on a social support network that will act as an intermediary. This is responsible for welcoming the person applying for the loan, studying his project and helping him to put together his file before presenting it to an approved bank.
You can contact a neighborhood authority, an employment center or a communal social action center (CCAS) or even a social association. The public service website can help you find the social support network closest to you.
Very often, you can send contact forms online in order to take initial information or to set up an appointment with a person who can meet you and help you carry out your project. But don't panic, if your online personal microcredit application is granted, the social support network monitors the project, throughout the loan repayment period by the applicant.