Non-bank lending companies via the Internet. The non-bank loan market is very diverse, despite the fact that several loan companies play a predominant role, which together account for over 80 percent. market shares.
Loan companies usually serve customers with the lowest scoring, which the bank refused to grant credit. The risk of non-payment of such a loan is much greater than a bank loan of the same amount, which is why a non-bank loan is much more expensive.
The revenues of loan companies include interest and fees on loans granted, revenues from the sale of debt portfolios, as well as other ones resulting from the Accounting Act. Interestingly, in the profit and loss accounts, as revenue, there are also fees and interest on loans granted that have never been repaid.
On the site you can use the search engine for non-bank loans, both installments and short-term. It is a simple and quick way to get acquainted with the offer of loan companies and apply for a loan in selected loan companies.
Non-bank lending companies via the Internet. Short-term and installments
When comparing non-bank loans in terms of price, please pay attention to the total cost of the loan or its APRC (Actual Annual Interest Rate). Information, in accordance with the law on consumer credit, is included in advertisements and leaflets (representative examples) and in offers presented to the client.
However, the APRC should not be confused with nominal interest or total cost. The APRC, in percentages, expresses the cost of the loan in relation to its amount, which would have to be incurred by the person making the commitment, if she took a loan for a year.
In the case of cash loans with a short repayment period and for a low amount, the APRC will always have high values. This does not mean that we will pay thousands of zlotys for a loan – the shorter the duration of the loan, the higher the APRC.
Loan companies and some regulations
A number of regulations have been introduced to protect borrowers. This is certainly one of the more highly regulated sectors of the economy. Among others, changes related to the reduction of maximum non-interest cost of consumer credit were introduced and organizational and legal requirements were introduced.
- Loan companies must operate as a limited liability company or joint stock company and at the same time have at least 200,000 PLN of share capital in total covered with cash.
- The Act also introduced a threshold for maximum collection costs based on the NBP reference rate. This means that currently the maximum collection costs (activities related to the recovery of the unpaid loan) can not exceed 14%. on a yearly basis.
- The so-called rolling loans. Granting a loan by a loan company within 120 days of paying the first, the borrower who has not fully repaid the loan, can not be a way to circumvent the provisions on the limit of non-interest loan costs.
- The cost limit within 120 days is counted from the first loan and it also includes the costs of granting further loans in this time period.
- Under the Mortgage Loan Act, the Register of Loan Institutions at the PFSA was introduced, the entry of which is mandatory for all entities providing consumer credit. At the beginning of April 2019, the register contained 445 loan institutions.
A non-bank loan is not for everyone
Admissibility of loans is the ratio of the number of applications submitted by customers to loans actually granted and paid out.
Of course, not every application is considered positively. Loan companies verify clients in external databases and use different scoring models.
In relation to previous years, there was a relative decrease in the credit grants to new customers in loan companies, while the increase in the case of returning customers.
In the case of companies that have the first free loan in their offer, the average admissibility for new customers is significantly lower than in the case of companies that do not have such a loan.
Free non-bank loan in a loan company
The so-called. a free loan (a customer paying in a timely manner does not bear interest and fees) is primarily a marketing activity and an element of verification of the payment capabilities of the customer.
Loan institutions, including due to capital constraints and business model, they prefer to credit returnable clients, i.e. those who have already received a loan in the past and repaid it.
In 2017, the granting of loans for new clients amounted to 17% (only every second customer received a loan).
Consumers are aware that there are several dozen loan companies on the market that provide the first free loan to new clients. That is why in the first place they are looking for loan companies with such an offer. The customer returns only to a specific loan company when he reaches for a loan for a higher amount.