Short term credit

While short term credit is not its best name, not everyone who speaks it has ever taken instant credit. Contrary to popular belief, short-term credit is a safe, convenient, and, if you borrow responsibly, a good credit. In this article, we’ll explain why you can decide to apply for a quick credit, as well as what exactly makes quick credit easy and secure.

Good attitude towards customers


Fast credit providers have seen a dramatic improvement in customer attitudes over the last few years, and fast credit providers are always looking for the best solutions to ensure that they and their customers are satisfied. There are various reasons for this change of attitude:

● In 2011, LAKDA – Latvian Association of Fast Credit Providers was established. Members of the Association have a few important principles, including a unified, democratic approach to clients.

● A $ 50,000 start-up tax has been introduced for non-bank lenders, so it’s important for lenders not to lose their existing customers or scare off potential bad luck.

● The number of “shadow creditors” has decreased, which also means fewer complaints about inadequate access to loan recovery.

Private short term credit


Only the company you borrow from knows about your loan. This aspect of short-term credit is diametrically opposed to borrowing from, for example, friends, relatives, acquaintances. Fast loans, therefore, do not let others know about your financial difficulties, which takes away a considerable social burden from your shoulders.

Safe, fast, convenient


● A short-term loan simply states that you can get a loan quickly. How fast? Very fast – you can get it in a matter of minutes after applying for a credit.

● Also, the security that you will receive money and will not get lost on the way is virtually fully guaranteed, as you receive it in the bank account you signed up for.

● Short-term credit is also surprisingly convenient because you do not need passport data or a guarantee to get it; instead, you can get credit easily with a bank account and a mobile phone if you are at least 18 (19 elsewhere).

Of course, fast credit also has its downsides, and we can regularly hear and read how someone gets in trouble while using them. But there are reasons for all of this, and the root of hatred against short-term credit can be found in three simple arguments: (a) problems with bank credit are not highlighted in the press; b) Quick loans can be processed very easily, which often leads to problems with repayment; (c) Quick credit can also be granted to non-income persons, as no data are available on the income of the credit provider.

So, we seem to have come to the conclusion that short-term loans are loans with their own advantages and disadvantages, but the public opinion about them, as it often happens, is largely uninformed.