The changing times today make many money loans popping up solutions right in various regions. In fact, it is not uncommon to appear loan offers 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 the loan service company. This way you think can help in hopes of returning it as soon as you get a replacement. Although it does not flower but it could be that your good relationship is broken.
Not only when you need money for your personal, when you want to open a new business or business, of course you need funds and capital at the beginning. When this happens, you can’t possibly borrow it to a friend because of the considerable amount. Then you will look for a loan with a large amount.
Money Becomes a Life-Supporting Thing
Money is still often a problem for the community because of the many needs that must be equipped. Then the community will make a big effort to get income to support their lives. Therefore, it often appears that money is the solution to many things.
But actually getting money by borrowing can be detrimental if you can’t return it immediately. So now there are various loans that can be disbursed quickly. Money loans are the right solution also even shaded on large companies. At least currently there are two ways of borrowing that can be used, namely online and conventional.
Advantages and Disadvantages of Each Way of Borrowing
Conventional loans are still used today even though there have been many online loans popping up. In the age of advanced technology, awareness is needed in development. The difference from each of these lending methods will be explained based on its advantages and disadvantages.
To make a money loan the right solution , of course, there are advantages and disadvantages of both that you must know before making a loan. Conventional or manual lending means coming to the place directly to make a loan.
You will meet with customer service or people who serve at the place. Then it will be asked the amount of loan needed and fill in the data according to the needs of the company. Later your data will be matched with an IDENTITY card to state whether you can get a loan or not.
Usually companies that provide money loan services conventionally are BANKS. The advantages of conventional money loans are the company’s clear optimism and there is no need for the use of tools to make loans. But the shortcomings eventually many who move to online loans.
The disadvantages of conventional loans are the advantages of online loans. One of them is the process that is done quickly so you don’t have to spend anytime queuing on the spot. The time you use is not wasted. This advantage is strongly felt when there is a sudden need.
Therefore, online loans are often referred to as money loans the right solution when compared to conventional means. In addition to the fast process and can be done anywhere, online loans also have advantages in terms of terms of very easy terms. You need to prepare some photos of your identity.
How to Make An Online and Conventional Money Loan
Although from both ways have their own shortcomings and advantages, but you still need to adjust the needs that you can. However, considering that you can now more easily borrow from online, it doesn’t hurt to try some steps to borrow money online as below.
- Choose a Trusted App
The first important step for you to do is to choose a trusted online loan application. Not all applications already have official permission and are under OJK. Therefore, make sure that the application or company where you borrow already has an official OJK logo.
- Download on Smartphone
Furthermore, when you have chosen, then you are required to download the application on your smartphone. As a money loan the right solution make sure that the interest from the loan in the place is also low so that you do not have difficulty in paying it.
- Perform Identity Filling
The third step if the application is already installed, then open the application and fill in your data or identity. Make sure everything is filled properly and completely. This aims to avoid possible mistakes that can occur and instead rejected by the company.
- Making Loans
If you have finished filling in the identity and have been confirmed by the application developer, then then make a loan with the amount you specify and the time for the full refund. In this step it is very important to pay attention and should not be underestimated.
- Confirmation from the Company That Created the Application
If you are sure of the amount and time of the loan, then you will be asked to complete the steps and wait for confirmation from the company. Some companies take a little longer to confirm due to the large number of requests.
However, some companies in just a matter of hours or even minutes can send a reply to the loan request for funds that you send.
Consideration of The Use of Money Loans as the Right Solution
Before doing the above steps to borrow money then there are some considerations that you need to pay attention to when making money loans the right solution using the application on your smartphone or conventionally. These considerations are as follows.
- Payment Plan
First of all, in addition to the purpose for borrowing, you mustconsider the payment plan that you must do. Try to compare the income you get with the time of payment of the loan. Both online and conventional means should take this into account.
Usually at the beginning of the money loan the right solution you are required to report income, cash flow statement, to be able to analyze the work and business situation that you are living as a form of collateral for the company.
- Loan Amount
Second, there is the amount of borrowing. It’s not because of the ease of borrowing that you finally get tired and do not consider carefully the nominal of your loan. You can borrow the right amount and do not need to exaggerate because it will burden you even more when returning it.
- Collateral or Collateral
Lastly, the right solution money loan that is no less important is to consider collateral or collateral. Either conventional BANKing or online lending requires collateral or collateral as proof. You cannot underestimate this because there are often rejections due to the non-conformity of the guarantees you give.
But not a few can also provide loans without collateral because of the small amount of loans. Usually the loan guarantee requested must be in accordance with the loan nominal to avoid the possibility of being late or not paid at all by the borrower of the fund.
When lending both conventionally and online you must make sure that everything is safe and does not make mistakes. Therefore it’s a good idea to look for the best information about the right money loan solution you choose.