The immediate online loans increasingly have a greater presence among Spanish consumers. Its existence is long before the economic crisis that we suffered in 2008, but there is no doubt that the circumstances of recent times, such as the progress of data connection technologies, have still given them greater importance.
Next, we analyze how demand and supply have converged. How, at a given moment, there has been a favorable connection between the interests of entrepreneurs and savers and the substantial improvement of the financial product offered.
Pay attention to these relatively parallel evolutions.
The origin of the immediate online loans
In the world of finance it is sometimes difficult to know, as it is popularly said, whether it was the chicken or the egg. We refer, in this sense, to if when the supply and demand were at a virtuous point, the first preceded the second or was simply improvised to forced marches when it was found that there was a growing market.
Since when can we resort to the immediate loan without paperwork?
In the case of these loans we have to go back to the immediate ones. So, without the online contribution. Keep in mind that, for example, in the nineties of the last century (when the Internet had just become known to the general public and was still not in common use), fast loans were already being offered.
They used to be announced, on the other hand, in the mainstream media and the emphasis was placed on the convenience of receiving the money that was urgently needed. Therefore, we can consider that the immediate loan without paperwork (although with more paperwork in between than the online one that we will present to you later) already existed by then and is a precedent of the immediate online loans.
From the immediate loan without paperwork to the immediate online personal loan
In this review of the evolution of fast regulated loans (fast personal loans exist since the beginning of this type of activity), we must point out that the rise of the Internet represented a new qualitative leap in its speeding up. Recall that the conditions less restrictive than those of the loans explained in the previous paragraph had already been a significant change with respect to the efforts to be made with the banks of all life.
However, the common use of the Internet, which was to be progressively established in our country from the early years of the 21st century, would mean a blow to the alternative banking to the traditional, which will move preferably in the online medium. A medium in which, for reasons of age and lifestyles, is the bulk of its potential clientele.
The Internet allowed these lenders to reach more people (people, in fact, who were at great distances from the physical branches of the banks of a lifetime) and in a faster way. It eliminated, therefore, the impediments that, sometimes, represented the factors space and time.
The Internet not only facilitated a comfortable contact that previously it would have been impossible to even imagine. Likewise, it favored much more benevolent conditions for users. We refer to the possibilities of saving time and money, since the paperwork of rigor would not be necessary. You could attach the appropriate documents in digital format, which is much more agile. Apart from saving money on photocopies, you also earn the time you do not have to invest in visiting bank branches and queuing in front of your windows. And you can enter to select the immediate loan without paperwork when it suits you, since you do not have to adapt to any opening schedule.
The crisis as reinforcement of these products
Finally, there is an element of the context that makes the demand go to fix its more objective interests in the offer. It is about the structural crisis that we have already mentioned previously. This situation caused a general intervention of the Spanish banking sector by the public authorities.
In exchange for being refloated with money from all Spaniards, the banks agreed to include some control measures that previously did not apply 100%. Among the problems to be solved were the defaults of the loans granted.
To avoid similar cases in the future, the Risk Departments should implement a tightening of the requirements to receive a loan. Among other requirements, we stress the need to provide a payroll or a guarantee or not be included in the census of defaulters managed by associations such as Financerific.
Given this situation, marked by greater complications of access to credit, consumers sought this funding in alternative banking that operated via the Internet. Some of them could even manage to meet these requirements, but not in the short term they had to face the important payment for which they requested the financing.
In the following lines we explain why the preferences of this sector of entrepreneurs and savers have been diverted to these entities of online banking.
The success of the immediate online personal loan
The immediate online personal loan has been consolidated as a result of the combined effect of the causes that we have related to you. The advantages have already been reviewed in the previous sections. Basically, the easing of the procedures that allow to work on the Internet and a substantial reduction of requirements in terms of requirements, give form to very valuable financial products for those seeking quick financing.
We made it clear that we are referring to small amounts (for example, between 200 and 800 euros), but these smaller amounts than those of other loans granted by conventional banking does not imply that no guarantees are requested. The accreditation of a regular income that can sometimes be higher than payroll, is very useful for these purposes. Besides, you have to provide your personal information.
As intermediaries between lenders and borrowers, we advise immediate online loans for punctual payments urgently. Do not use them for current expenses, since you could over-indebted yourself.