The so-called microcredits or online payday loans

The so-called microcredits or online payday loans are granted to those who seek to start a business with which to increase their income or face an immediate economic need.

These are fast financing tools whose main objective is to help those most in need. Online payday loans are focused on financing small amounts of money that are urgently needed.

This last year the online payday loan application

This last year the online personal loan application

Has grown exponentially compared to previous years. This is because more and more financing entities offer this type of financial aid in a safe and fast way.

Credit institutions grant small amounts of “urgent” money whose objective is to meet near and imminent expenses. According to the latest study, the ratio between men and women applicants is very small; exceeding the male demand with 54% of which the vast majority had no children. An important fact that helps us to know the tendencies that can adopt this type of credits in a short term future.

In this type of payday loans online the applicant profile predominates in young people between 20 and 29 years old ; surpassing them by people who are between 30 and 39 years old.

Given its ease of acceptance, the speed of the process and the way to request it completely online; It is a type of credit focused on young people who are developed by new technologies. The dominant profile is young people from 20 to 29 years without family charges native to the digital era.

Another interesting fact is the regions

Another interesting fact is the regions

That grant more online credits; Catalonia being the leader with 22% of the total . In the Top three of autonomous communities, Madrid and Andalusia follow closely. Among them the most recurrent are the autonomous persons, that is, applicants who need to face certain personal expenses that have come at once. A sector that can be said to try to face unexpected payments in its monthly economy.

In short, the tendency in these credits is to focus more and more on a young sector that tries to face unexpected expenses and that resorts to this type of economic aid to be able to face certain inconveniences in its day to day. In addition, the demand for online payday loans has grown due to the difficulties that a person has in obtaining a conventional loan. And more, in the moment of instability that young people endure.

Increase the application for payday loans online because of the difficulty of obtaining a conventional loan

These loans are requested and received by different types of people without having to deliver large documents to prove their solvency, as is the case with conventional loans. Online credits are increasingly gaining importance given their ease and speed; gradually becoming the favorite type of loan for the youngest.