In the credit universe there is a wide variety of options that fit all needs and budgets. If among so many loans, online companies and express loans on the internet you no longer know what can be useful, here we present the main types of credit.
Before talking about online personal loans or online bank loans, it is important to know that credits can be classified not only by their type of transaction (traditional or online), but also by the period, amount, responsibility and entity that offers it.
Loan Periods
Short term: are credits that must be settled in terms no greater than a couple of weeks. In general, these credits are managed within a month, with the possibility of requesting an extension.
Medium term: this type of credit is usually used for business purposes, either to start or grow a business, so that the periods of credit range from one to 5 years. Long term: these are the credits that handle the largest amounts, so it is very common to set payment periods of more than 15 years.
Types of credits
Microcredits: these credits are designed to cover some unforeseen expenses or to attend emergencies, for which the amounts do not usually exceed $ 5000, although it depends on each financial institution. At Forvsyte family Mexico we offer our clients personal online loans for up to $ 6000. Visit our site to know all the advantages of Forvsyte family. Major credits: the objective of this type of credit is to finance large projects, such as buying a house, starting a business or buying a car. Although the amounts of these credits vary from one application to another, they almost always require a guarantee.
Responsibility Personal loans: at the moment of requesting a personal credit, you are the only one responsible for that debt. To protect themselves in these cases, many companies ask for endorsement before granting the loan. Did you know that in Forvsyte family Mexico we offer you express loans online even if you do not have an endorsement? Download our app and discover all the benefits of the Forvsyte family loans.
Group loans: these loans are granted to a group of people who are responsible for the total amount, although only a fraction is lent to each one. By sharing the payment commitment, you run the risk of ending up paying more than you really owe.
Financial Entity : there are some institutions that are dedicated to financing through personal loans, group loans or even express loans through the Internet. Before applying for a loan with a finance company, make sure it is regulated by national laws. Thinking of providing the greatest security to our customers, Forvsyte family Mexico is registered with the Condureb and the CNBV.
Banks: most often banks offer mortgage, automotive, payroll or business financing, but it is also possible to access bank loans online. The procedures can take a lot of time and include a lot of paperwork.
We remind you that before applying for express loans online, you must know the terms and conditions of the credit.
