Money Loans Online Matching Solutions VS Common
The changes of the present time have created many emerging money lending solutions right in different regions. In fact, it’s not uncommon for loan offers to appear via sms sent to your phone number. The offer is also offered with a variety of interest rates from lowest to highest.
When in difficult times you often seek to borrow money, it may be through close friends for lending service companies. This method you consider useful in the hope of returning it as soon as you get a replacement. Although it doesn’t bloom, it’s possible that your good relationship is damaged.
Not only when you need money for yourself, when you want to open a new business or enterprise, of course you need capital and capital in the first place. When this happens, you can’t afford to borrow it from a friend for big money. Then you will look for loans with large amounts of money.
Money becomes what sustains life
Money is still often a problem for the community because there are many needs to be equipped. Then people will make great efforts to earn income to support their lives. Therefore, it is often said that money is the solution to many things.
But actually getting money by borrowing can be detrimental if you can’t pay it back right away. So now there are various loans that can be disbursed quickly. The right money loans are even sheltered in large companies. At least currently there are two ways loans can be used, namely online and conventional.
Advantages and disadvantages of each lending method
Conventional loans are still used today although many online loans have appeared. In the age of advanced technology, awareness is necessary in development. The differences of each of these ways of lending will be explained based on their advantages and disadvantages.
To make a money loan, the right solution, of course, has the advantages and disadvantages of both that you must know before borrowing. Conventional or manual borrowing means going to the facility directly to make a loan.
You will meet the customer service or waiter at that place. Then it will be asked the required loan amount and fill in the data according to the needs of the company. Your data will then be matched to your ID card to indicate whether you can borrow money.
Usually the company that provides the usual money lending service is THE BANK. The advantage of conventional money lending is the clear formality of the company and the use of unnecessary tools for the implementation of loans. But the shortcomings eventually turned to online loans.
The disadvantage of conventional loans is the advantage of online lending . One of them is a process that is done quickly so you don’t have to spend time waiting in line on the spot. The time you spend is not wasted. This advantage is felt when there is a sudden need.
Therefore, online lending is often referred to as borrowing money, the solution is suitable when compared to conventional methods. In addition to being a quick process and can be done anywhere, online loans also have the advantage of very easy requirements. You need to prepare some photos of your ID.
How to make online and regular money loans
Although both methods have their own disadvantages and advantages, you still need to adjust to your needs. However, considering that nowadays you can more easily borrow from online, it never hurts to try some steps to get a loan online, such as in below.
- Choose a reliable app
The important first step for you is to choose a reliable online lending app. Not all apps already have official permission and belong to OJK. Therefore, make sure that the app or company where you borrowed already has the official OJK logo.
- Download on Smartphone
Then, once you have chosen, then you are asked to download the app on your smartphone. As a money loan , the right solution is to make sure that the interest on the loan in that place is also low so that you have no trouble paying.
- Fill in your identity
Third step if the application is installed, then open the application and fill in your data or identity. Make sure everything is filled out correctly and completely. This is aimed at avoiding possible mistakes and instead being rejected by the company.
- Lend
If you have completed your identity and have been confirmed by the app developer , then take out a loan with the amount you specified and the full refund period . In this step, it is very important to pay attention and not to underestimate.
- Confirmation from the Company that made the application
If you are sure of the amount and duration of the loan, then you will be asked to complete the steps and wait for confirmation from the company. Some companies take some time to confirm due to the large number of requests.
However, some companies in just a few hours or even minutes can reply to a loan request for the amount of money you have submitted.
Consider using money loans as a suitable solution
Before taking the above steps to borrow money, there are some considerations that you need to pay attention to when borrowing money, suitable solution using a smartphone or regular application. These considerations are as follows.
- Payment plans
First of all, in addition to the purpose of borrowing, you must consider the payment plan that you have to do. Try to compare the income you receive with the loan payment period. Both online and conventional media should take this into account.
Usually when starting a loan, the right solution you are required to report profit and loss, cash flow statement, to be able to analyze the work and business situation that you are currently facing a form of guarantee for the company.
- Loan amount
Secondly, there is the loan amount. It is not because of the ease of borrowing that you end up and do not carefully consider the title of your loan. You can borrow the right amount of money and there is no need to exaggerate as it will make you even more burdened to pay it back.
- Collateral or Guarantee
Last of the money loans , the equally important suitable solution is to consider collateral or collateral. ORDINARY BANKS or online loans require collateral or collateral as proof. You cannot underestimate this as there are often rejections due to the inconsistency of the guarantees you provide.
However , many people can also offer unsecured loans because of the small loan amount. Usually loan guarantees are required to match the name of the loan to avoid the possibility of being late or not being paid by the borrower of the fund at all.
When borrowing both regular and online , you have to make sure that everything is safe and not make mistakes. Therefore, you should find the best information about money loans, the right solution you choose.