Categories
Payday Loans

New reality in the Payday Loan sector

The quasi-monopolistic reality of banking entities as providers of financing for individuals and companies has fortunately already passed into a better life with the entry years ago of private lenders in the sector and other agents. Now, in addition, in the XXI century, a new reality comes to revolutionize everything: fintech and private lenders. see libhitech.com for more notes

A new era in Payday Loans

A new era in Payday Loans

Years ago, private lenders came to fill an important gap that financial institutions left, they came to occupy an important gap in the neglected segment of the market and, without a doubt, have made a very important contribution to society.

The role and work of private lenders has been reinforced in recent years where the need for credit for all individuals and Spanish companies was more necessary than ever and banks gave less credit than ever. Now, after the darkest moments of the banking crisis, bank credit remains but it is no longer the only one, far from it.

And bank loans are no longer the only ones, much less, because in the first place more and more they neglect a larger percentage of the population, and also the digital revolution that is taking place is promoting the appearance of new actors and agents in the market and above all, a clearly emerging new figure: that of private lenders.

A multi-credit world

A multi-credit world

We are heading at breakneck speed to a multi-credit world, to a world where the monopolistic is practically a chimera and even where what was monopolistic is no longer going to be even predominant, and that is that no figures break through.

The above supposes a great advantage and benefits for the applicants of Payday Loans since it not only supposes a greater diversity of options, but that this greater competition favors better options and above all more diverse, more diverse to be able to respond to the needs of any profile..

In this new environment, banks will continue to have an important role, of course, but it will no longer be as it was said, nor monopolistic nor in a few years predominant, but also companies from the digital world will enter with force, offering financial services of all kinds, It is not worth mentioning the irruption of any digital giant in the sector that definitively undoes the kingdom of bank loans, and then without a doubt private lenders will continue to enjoy great relevance.

Now, if a figure will emerge enormously it is that of private lenders, in a world where the collaborative expands and imposes itself, in a world where the laws are adapting to forced marches to this unstoppable reality the irruption with force of the collaborative, of the loans between individuals cannot, is not, much less be an exception.

The figure of private lenders is already gaining great importance and is already beginning to have a significant market share that is complemented by other options that already exist (such as private lenders).

Makes an interesting contribution to the sector

Makes an interesting contribution to the sector

This figure, the figure of the private lender, is here to stay and also makes an interesting contribution to the sector. Thanks to private lenders, a large part of the population has access to financing that they would not otherwise have, and thanks to private lenders, financial solutions to difficult situations can be found.

Private lenders provide a close relationship with the user, without intermediaries, direct. Directly from private lenders to the client, this gives these Payday Loans great and interesting flexibility.

There are all kinds of private lenders, from lenders that are more dedicated to the microcredit segment, to large private lenders that offer large amounts of loans. Among the latter, those that could be called traditional private capital stand out, that is, those private lenders who lend their money simply with a real estate guarantee that guarantees the operation (many of these lenders also often allow access to the financing they offer. through movable guarantees).

One of the great advantages offered by these last mentioned private lenders is the absence of personal requirements that they request. Both an individual and a company (and, of course, a self-employed person) can access the Payday Loans for these offered without having to prove income at any time, or provide any proof of them.

Of course, the above is accompanied by the possibility of accessing the Payday Loans of private lenders even when the applicant is registered in the Financial Credit Institution or in any other file. Private lenders do not take these files into account (for online microcredit and other products it is another matter, but that in any case would be another matter to be dealt with individually.

Leave a Reply

Your email address will not be published. Required fields are marked *