Build a new house, consolidate debts or even start your own business: we all have dreams and plans that we want to fulfill; however, not all of us have enough money to make them a reality. In that sense, if you are going to apply for a loan, the first step is to find out, compare and turn to financial entities in search of companies that offer the best conditions.
Getting large amounts of money is difficult, but not impossible. Especially if we are negatively reported at Infocorp, since debts affect our credit history. Despite this, there are a variety of entities that offer loans for people with bad credit history or reported as delinquent in Infocorp.
Next, we share four options that exist in the formal market to access loans, so that you can choose the one that best suits your needs:
1) Banks
These are traditional financial entities that receive money from the public and use it, along with their own capital and that of other sources, to provide loans and make investments. Although they are the first options when thinking regarding a loan, they usually offer very high interest, especially if you do not have a credit history, since the bank is still unaware of your payment behavior, so it will try to mitigate the risk with the interest rate.
If you are negatively reported at Infocorp, it is difficult to access a loan at a bank, since previous debts constitute a high risk for them. If you have not yet generated a history, then they will evaluate your payment behavior with telephone or basic service entities. These payments also mark a before and following when offering an interest rate.
2) Municipal savings and credit banks
The purpose of the municipal savings banks is to carry out financing operations mainly for micro and small businesses. However, some savings banks offer the option of a personal loan with Infocorp to improve the credit rating. In this case, the interest rate depends on the level of risk and the amount of money you request.
Now, keep in mind that being in Infocorp is not bad, but being reported as a bad payer is. In that sense, this type of entity usually offers payment facilities, competitive interest rates and credit extension. Some even grant loans to finance services, expenses or payment of goods.
Among the requirements that they request, for example, for the purchase of debts from other financial entities, are the payment slips of the last 6 months, a copy of the DNI, a copy of the electricity bill, the AFP account statement and documentation of the property where the applicant lives. If your credit rating has a status of “normal” you might qualify for a loan at savings banks.
3) Financial
A finance company is an institution that carries out financial intermediation operations like banks. That is, to capitalize the savings of the public to carry out active operations or to disburse credits to third parties. Compared to banks, they have a smaller Deposit Insurance Fund and fewer branches.
The financial ones are a good alternative to save. Although they also offer loans, their interest rates are usually higher than those of a bank, so it is better to evaluate the conditions they offer well.
4) Prestamype: Fintech peruana
Fintech companies (companies that combine new technologies with financial activities) are increasingly in demand, as they provide the same security and support as a bank, but with better conditions and greater flexibility when evaluating the client.
Prestamype is a Fintech registered in the SBS that offers home equity loans with an effective annual cost rate that ranges from 16% and is the only rate that includes appraisal, notarial and registry expenses. Is this interest rate really better compared to a bank? Yes, since a person who applies for a loan in the traditional financial system obtains a rate of 37% to 62% on average.
Not having a credit history, being registered with Infocorp or having debts is not decisive for Prestamype, since the risk, credit and property evaluation can approve the client. Those interested can access loans from S / 20 thousand to S / 1 million.
How to prequalify for a home equity loan? The interested party must meet the following requirements:
– Have a property duly registered in the SUNARP, which functions as collateral.
– The location of the property must be in Metropolitan Lima or Callao.
– The property must be free of fines, encumbrances or involvement in public records or the Municipality.
Prestamype It is a non-traditional financing option that is inclusive, flexible, formal and secure. This Fintech offers fair conditions and according to the profile of each person interested in the loan so that they comply 100% with their quota at the end of the month.
Request your loan with mortgage guarantee in Prestamype here.
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