Same-day loans are short-term loans and are determined by relatively small amounts for a short payback period. Loans can be given by legal and natural persons. Companies can lend to workers as well as vice versa. Individuals can lend to legal entities, and most often it is a business owner’s loan to their own company.
If a legal entity lends to a natural person, the interest rate should usually not exceed 3 percent per year. When the loan is given by a natural person to a legal entity, then the loan can be interest-free. But it all depends on how the two sides agree.
For this type of lending, business owners or legal entities most often resort to it because they cannot obtain a loan from a bank or financial institution. Or, the conditions offered by banks are unfavorable to them, so they opt for such variants. The same day loan can be obtained in as little as 15 minutes as the loan immediately.
As it is a smaller sum of money, banks and financial institutions have introduced online applications that shorten queues and keep them nervous. In just a few mouse clicks, the customer can apply for the same day loan online from stansmithloans.
The biggest advantage of lending on the same day is the extremely quick approval, usually within just 15 minutes. Borrowings are credited to the account the same day if the documentation is complete. Most often, banks and other financial institutions only require a copy of their ID card and current account.
If the amount is more than USD 3000, then an extract from the bank account, payroll or pension list must be enclosed with the required documentation. The account must not be secured or blocked, and in order to apply for a loan, the applicant must have regular income in the form of a salary or pension.
Borrowings are a quick solution in the case of emergencies that require a rapid flow of money such as sudden medical expenses, closing down a bank account, car repairs, or repairs to an apartment.
These loans are short-term with a repayment term of 15 to 90 days, and a repayment period of 12 months is possible, depending on the amount of money requested.
All adult citizens who are permanently resident in the Republic of Croatia and have a current account with regular earnings in the form of salary or pension may apply for the loan on the same day. It is important that the account is not blocked or protected in any way.
Since the same day loan usually refers to smaller amounts, banks, and other financial institutions do not require certification by the employer. This shortens the amount of time that elapses from submitting a claim to paying out money. This is especially important for clients whose employer does not want to give insight into their business.
An insurance instrument that helps you get a loan on the same day is a life insurance policy. If a customer requests a policy on a loan, the policy is still valid or not terminated.
A loan on the same day implies a smaller sum of money with a shorter repayment period, which is why it is not necessary to specify a co-debtor or guarantor as a security measure. Sufficient insurance is cash receipts or creditworthiness of the client.