One year of research into the market of non-bank products shows that the most popular among them are small loans. Consumers usually apply for amounts not exceeding several thousand zlotys. Non-bank institutions lead the way in providing them, because most often it is there and not in banks that Poles borrow small amounts.
A loan of up to USD 2,000 – what do we use it for?
Loans up to USD 2,000 are relatively small liabilities. Usually, we try to get it, if at the moment, there is a lack of additional funds in the private budget. For many years they were spent on patching budget holes. The needs depended on the specific age group – covering current expenses related to bills, necessary purchases, school layettes or medicines for the elderly.
Over time, the borrowers’ goals have changed. Now small loans up to USD 2,000 are allocated more for consumption purposes than for patching budget holes. The main reason, of course, is that the financial condition of many households has improved significantly. So what are the additional funds allocated for?
Loan up to 2000 online
In addition to what we spend the money on, the form of this loan is also important. In the last five years we have observed an increase in the share of loans granted online in the market. Borrowing online is very convenient. As consumers, we have become accustomed to these types of offers and are eager to use them, all the more so as various online services have entered our everyday lives.
A loan of up to USD 2,000 online is one of those offers that allows us to quickly obtain funds. Its additional advantage is that we can apply for it regardless of the time and place where we are.
Applications as part of its granting are dealt with very efficiently. In many cases, which can be a significant argument, we can get money in a very short time. In addition, borrowing small amounts is usually not burdened with completing formalities such as presenting income and employment certificates.
2000 installment loan
Granting a loan of USD 2,000 can take two basic forms. It can be a one-time repayment loan or an installment loan. In the first case, the money must be returned in full within a certain period of time after it was granted. Repayment terms vary, usually between 30 and 60 days.
The second form of debt repayment is to divide it into installments. The number of installments, and therefore the duration of the loan is not predetermined by the lender. This defines only the minimum and maximum number of installments to which the liability can be spread.
Finally, the borrower decides on the repayment time. It can be, for example, spreading a loan of USD 2,000 over 12 months. By using financial calculators, which loan companies usually provide on their sites, we will know the cost of the loan and the value of the monthly installment.