A micro loan with Directlendersloans is different from personal bank loans : the approval does not depend on your credit score. We guarantee you a loan based on your ability to reimburse rather than your financial history. This means that you can get cash even with bad credit.
Following the approval of your micro loan, you will be able to receive your money in less than an hour.
Are Bad credit scores and bankruptcy accepted?
If you have a valid bank account, and are at least 18 years old, you can get a micro loan today. It’s easy to apply and you don’t need to send any fax or documents to get approve. All you have to do is fill out our online loans application!
Possible payment plans for micro-loan
100 dollars on 3 month loan - 3 payments of $43
100 dollars on 6 months loan - 6 payments of $24
100 dollars on 12 months loan - 12 payments of $18
100 dollars on 24 months loan - 24 payments of $11
500 dollars on 6 months loan - 6 payments of $96
500 dollars on 12 months loan - 12 payments of $52
500 dollars on 24 months loan - 24 payments of $29
500 dollars on 36 months loan - 36 payments of $21
When will I get my micro loan ?
Our online micro loans are done in less than an hour, it all depends on how quickly you send in your online loan application.
How can I get my money?
Your presonal loan will be issued via bank transfer, email fund transfer, or by direct deposit into your bank account.
Are There Late Fees for Repayment?
If you think that you will be late on a monthly loan repayment, be sure to contact one of our credit brokers two days beforehand to avoid useless fees. A late payment has a $15 fee.
Also called microcredit, micro-loan is a term which means loan between individuals. By using this method, applicants and lenders avoid the traditional dealings with financial institutions. In practice, the amounts loaned remain small, usually less than $ 1,000. What is the advantage for “private” lenders to grant loans through different microcredit companies? The interest received on this type of loan is higher than when using the traditional method, ie through different banking institutions.
Obtaining a micro loan is available for certain people only, following a “case by case” study. All micro-loan companies have their eligibility criteria and it is imperative that you meet each of them if you are to obtain a loan.
The advantages of this type of loan are simple: the speed of obtaining and less demanding criteria in terms of credit history, since the majority of companies do not conduct a credit check.
Types of micro-credits
Personal microcredit It is a loan granted to the most deprived in the financing of their microproject. It is the subject of a study requiring guarantees or a credit history. Personal microcredit is intended primarily to finance specific needs such as housing, training or returning to work. It also takes into account expenses related to accidents of life such as divorce, health problems, funerals or even dismissal. The main objective is to reintegrate you into society, allowing you to keep the unity of your family.This type of loan increasingly meets the needs of micro-entrepreneurs, but primarily targets applicants less affected by poverty.
It is set up to facilitate the creation of businesses for people in difficulty, it supports grouped micro-projects, without asking for guarantees but still requires a certain solidarity between the beneficiaries. It is a trick that serves as social links for create a social guarantee, making it possible to encourage borrowers to repay their loan within the stipulated period. This type of microcredit constitutes an effective means of forming within the members, a credit history.Good to know: In both cases, the beneficiaries have a personalized follow-up initiated by the integration associations to maximize the chance of success micro-activities