Do you associate non-bank business loans mainly with payday loans? It is worth pointing out that this is not the only option when it comes to quickly raising money for any purpose. Today, more and more non-bank loan companies also offer installment loans on favorable terms!
A loan in installments is a convenient solution when you want to borrow a larger sum. Non-bank loans, such as payday loans, do not suit everyone – a payday loan is usually one month, so we repay the liability in one installment. Therefore, if we borrow a larger sum, we must give it back in full – otherwise we risk being unpleasant – contractual penalties, interest, and debt collection.
Therefore, many customers of loan companies are very satisfied with the fact that they can take advantage of installment loans – just like in banks. It’s not only convenience, but also more security!
How many installments can we spread our debt?
Non-bank loan companies specialize mainly in loans concluded for shorter terms – we will not get a loan for 10 years or even 5 years. Usually the maximum repayment period is 2 years, i.e. we have to pay off our liability in 24 installments. Some companies apply even shorter repayment periods, for example 6 months or 1 year, but it is still much more beneficial for customers than paying the debt in one installment.
Therefore, the installment loan will allow us to deposit money in the form of matched installments tailored to our financial capabilities. Most often, we can choose the number of installments ourselves – we simply specify them in the calculator on the loan company’s website, and then submit the application.
However, we must remember that the number of installments, and thus the amount of individual installments, is related to the creditworthiness. When it is high, our installments can also be higher, but when it is lower, the lender may refuse to grant us a loan with fewer higher installments – when we change the loan repayment period, we can generally get it easier.
How to take a good non-bank business loan into installments?
If you also want to receive a non-bank loan in installments, read the various proposals. At Aasa, we have prepared an attractive offer for our clients – an installment loan for up to PLN 10,000 with the possibility of spreading its repayment into 24 installments. Check now the simulation of costs on the website – see how much the installment will amount depending on the repayment period, and then choose the loan that will be the most convenient for you.
Also, remember to calculate exactly whether the specific installment amount will be convenient for your household budget. Never determine the amount of the installment, as it may turn out that one unexpected expense will destroy your plan. It is better to always have extra money at your disposal to be able to dispose of them if necessary.
Therefore, non-bank business loans are not only payday loans – it is also convenient installment loans that we can repay as easily as bank loans .