Stretching the home budget beyond the limits of opportunity for the average Croat has become an indispensable survival discipline. Receipts as such are not enough to finance all the monthly expenses, so people are patching up how best they know and are able to.
They turn to family and friends, but many acknowledge that they do not like the “sermons” they listen to when lending money. For this reason, they prefer to turn to financial institutions because they cannot be justified on what they spend money and what they plan to spend it on.
Micro Loans – Small amounts that save at the right time
The most sought after lending methods are smaller amounts that are quickly and easily repaid and do not represent a long-term liability. Such are micro loans that have become extremely popular in the last few years due to the fact that they are non-purpose loans and cash loans.
Customers can then use them to pay overheads, close current account minus, sudden repairs, unplanned celebrations and the like. They were first intended to develop an entrepreneurial climate, foster self-employment and design patents. But their practicality pushed them into general use.
How to get micro credit?
Micro loans are offered by credit houses and banks. Credit institutions provide full online realization, while banks usually provide the option of only submitting requests online. Banks under micro-credit are usually micro-credit cards. Micro credit is paid into a current account and repaid on a monthly basis along with other credit card expenses. It is most often approved without collateral because it does not pose too much risk to the bank due to smaller amounts.
Credit institutions allow the payment of micro-loans to a checking account at the earliest possible time, which shall not exceed 24 hours after the application has been processed. The whole process is minimized, which means that only your ID and current account card are sufficient for micro loans. There are no additional notarisation notices, loan processing fees, employer certificates and the like.
This speeds up the processing process so that money can be paid off as quickly as possible, which is of paramount importance to all those in urgent need. Then every minute matters.
Micro credits – a concept for the Nobel Prize
The term micro-credit or micro-credit is credited to banker Good Finance. He designed the concept of micro-credit – lines of credit for the poor.
The idea was to provide credit to all those who did not qualify for classic credit. The loans were intended for the poorest part of the population, which earned him the Nobel Peace Prize. In this way, he wanted to improve living conditions and help people to lift themselves out of poverty.