Money Loans The Right Solution Online VS Common
As a result of the changes in the current era, many new money loan solutions have appeared in different regions. In fact, it is not uncommon for loan offers to appear via SMS sent to your phone number. The offer also offers a variety of interest rates from the lowest to the highest.
When , in difficult times , you often find a way to borrow money, be it through close friends to a lending service company. This method , in your opinion, can help in the hope of repaying it as soon as you get a replacement. Although it does not bloom, it is possible that your good relationship is spoiled.
Not only when you need money for your personality, when you want to open a new business or business, of course, at the beginning you need funds and capital. When this happens, you are unlikely to borrow it from a friend for a sufficiently large amount. Then you will look for a large amount of borrowing.
Money becomes the thing that sustains life
Money is still often a community problem because of the many needs that need to be met. Then people will try very hard to earn income to support their lives. Therefore, it is often said that money is the solution of many things.
But in reality, getting money by borrowing can be harmful if you can’t return it right away. So now there are various loans that can be quickly disbursed. Money loans of the right solution are also even hosted by large companies. At least for the moment, there are two ways of loaning , which can be used, namely the Internet and the usual ones.
Advantages and disadvantages of each method of lending
Ordinary loans are still used today, although many loans online have grown. In the age of complex technologies, awareness is needed for development. The differences between each of these lending methods will be explained on the basis of their advantages and disadvantages.
To make a cash loan, the right decision , of course, there are both advantages and disadvantages that you need to know before lending. Traditional or manual lending implies arriving at the place directly to make a loan.
You’ll meet customer service or people who serve in the area. Then you will be asked about the amount of the required loan and fill in the data according to the needs of the company. Subsequently, your data will be aligned with the identity card, indicating whether you can get a loan or not.
As a rule, companies that provide the usual services of money loans are BANKS. The advantage of ordinary cash loans is the clear inauguration of the company and the fact that there is no need to use means to provide loans. What’s missing, however, is that many eventually switch to online loans.
The disadvantage of this regular loan is the advantage of online loans. One of them is a quick process , so you don’t have to waste time waiting in line on the spot. The time you use is not wasted . This advantage is especially felt when the need suddenly arises .
Therefore, online loans are often called cash loans, which are the right solution , compared to conventional methods. In addition to being a fast process and it can be done anywhere, online loans also have advantages in terms of very easy requirements. You need to prepare some photos of your ID.
How to make money online and with regular money loans
Although both methods have their drawbacks and advantages, but you still need to adjust the needs that you can. However, given that at the moment you can more easily borrow from the Internet, it will never hurt to try some of the steps on how to borrow money online, as below.
- Choose a trusted app
The first important step you have to take is to choose a reliable online lending program. Not all applications already have official permission and are according to the OJK. Therefore, make sure that the application or company where you are borrowing already has the official OJK logo.
- Download to smartphone
Also , once you have made your choice, you will need to download the app to your smartphone. As a money loan, the right decision is to make sure that the interest from the loan in that place is also low so that you do not have trouble paying it.
- Fill in your identity
The third step, if the application is already installed, open the application and fill in your details or identity. Make sure that everything is filled correctly and completely. This is to avoid possible mistakes that may occur and are rejected by the company.
- Lending
If you have finished filling out an identity and have been approved by the developer of the application, then make a loan with the amount you specified and the time of full repayment . In this step it is very important to pay attention to this and you should not underestimate it.
- Approval of the applicant establishment
If you are sure about the amount and time of the loan, you will be asked to take steps and wait for the approval of the company. Some companies approve a little longer due to the large number of requests.
However, some companies can send a response to a request to borrow the funds you send in just a few hours and even minutes.
Consideration of the use of money loans as an appropriate solution
Before you follow the above steps to borrow money, you need to pay attention to a number of circumstances that you need to pay attention to when providing a cash loan, the right solution when using an application on a smartphone or traditionally. The considerations are as follows.
- Payment plans
First of all , in addition to the purpose of borrowing, you need to consider the payment plan that you need to make. Try to compare the income received with the time of payment of the loan. This should be taken into account equally by both online and conventional means.
As a rule, at the beginning of the loan money, an appropriate solution is needed in order to report profits and losses, a cash flow statement in order to analyze the labor and business situation that you are currently living as a form of guarantee for the company.
- Loan amount
Secondly, there is the amount of borrowing. It’s not because of the easy borrowing you end up with and you don’t take into account the face value of the loan carefully. You can borrow the required amount and you will not have to exaggerate, because returning it will be an even greater burden for you .
- Collateral or warranty
The last of the money loans a suitable solution , which is no less important, is to consider collateral or collateral. A traditional BANK or online lending requires collateral or collateral as proof. You can’t underestimate it , because there are often rejections due to the fact that you do not comply with the guarantees you provide.
However, few can also give unsecured loans due to the small amount of loans. As a rule, the requested loan guarantee must correspond to the nominal loan , in order to avoid the possibility of being late or not paying the borrower at all.
When borrowing both normally and online, you need to make sure that everything is safe and does not make mistakes. Therefore, it is useful to find the best information about the chosen suitable money loan solution.