You can borrow from $ 500 up to $ 10,000 through a microloan.
Online lenders for bad credit: look at our loans
The idea with online loans for bad credit is that they should be easy to apply and so is loan companies. You can choose to apply for online loans for bad credit either via the web at https://purplepaydayloans.com/ or to do so on the mobile phone. No matter how you choose to apply, the first step is to go to their website. If you choose the form, just fill in this and they will provide an answer. If you instead want to call them directly, check out the things that should be entered in the form for it is the same information that you need to be ready to provide over the phone.
Your application will then be processed and you will receive a reply. If this is positive, the money will be paid out as soon as possible. How fast this goes depends on the time the application comes in. The usual thing is that an application that comes in before 13:00 also means that the money is in the account the same day, provided it is a weekday.
For the loans up to $ 3,000 a maturity of 30 days applies.
If you want to borrow more money from loan companies, the maturity will be 90 days instead of why the loan is instead called a quarterly loan.
It is really only the maturity that separates the smaller loans and the larger ones at loan companies. Of course, the total cost will be greater for those who want to borrow more money, but if you look at monthly interest rates and effective interest rates this will be lower for the higher amounts.
There are no rules that you must have borrowed from them earlier in order to borrow the larger amounts, so it is no worry to borrow the largest amount the first time. Also, applying for a microloan of $ 1,000 is not done in any other way than an application for a quarterly loan of $ 10,000.
Conditions for obtaining a loan from loan companies
If you apply for a loan, a credit check will be carried out and in order to have a chance to do so, you must meet some basic conditions. These are that you should be at least 18 years old and registered in Sweden. Furthermore, you may not have any active payment notes. You also need to have an income that loan companies can check in their credit check that is large enough to make them feel secure in lending money. The size of this income varies by how much you want to borrow. For smaller loans, an income of $ 50,000 or 100,000 per year is required. If you want to borrow more than $ 4,000, you must earn at least $ 120,000.
Loan companies offer the following types of loans:
- Microloans up to $ 3,000.
- Quarterly loans up to $ 10,000.