Folk microfinance is a good choice of loans, when a friend in need can also apply for loans in the check, but if the safety factor, bank lending is more reliable, but many people are all the same with bank lending conditions, in this case, only another way.
Advantages of folk microfinance
Loan speed: the rate of loan for private will be faster than that of banks, but it will be slower than that between individuals and individuals. Civil small loans are generally after the application of rapid review, quick results, unlike banks waiting day by day, loans only response.
Scope of the loan: the scope of the loan is wide, it can be an individual, it can be a family unit, and can even provide loan services for small and micro enterprises.
Folk microfinance is a kind of folk in general is a kind of to individuals, and borrowing procedures no less formal, many are a way of mutual communication between discuss good writing IOUs, in folk microfinance, compared to the small loan platform, private microfinance risks is more large, but the rules and regulations can be determined after consultation between the two sides, so the folk microfinance what advantage?
Repayment: small loan repayment is more flexible, if you keep optimistic about the prospects for future income, can choose matching principal repayment; if you prefer more lenient repayment environment, can choose matching principal repayment. If you have spare cash, you can also consider early repayment.
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