Quick loans for young people other financing options

Quick loans for young people and other financing options

When you are looking for financing as a young person, you may encounter a barrier that makes it difficult for you to get the amount you need.

In fact, it often happens that even if you fulfill all the requirements of the quick credit or the loan, you do not get it because you do not meet the minimum age.

In many of these credits the minimum age to access them is 25 years.

In Creditore we know that this worries many young people and that is why we make a brief summary of the best quick credits for young people, being able to request up to € 800 for what you need.

If you are young and you are looking for financing, enter the mini-credits section, there you will find the quick money you need.

Financing for young entrepreneurs

Unfortunately, personal finances have not yet become a required subject in high school or college. Taking financial control of our lives is a fundamental part of maturity. If you do not learn to manage your own money, other people will find ways to manage it for you. Some of these people may be ill-intentioned, such as unscrupulous financial planners based on commissions. Others may be well-intentioned, like someone in your family, but they may not have the necessary knowledge to advise you.

Funding is also a sensitive issue for young people, since banks do not usually take them into account when promoting their products. Applying for a loan with less than 25 years is a really difficult task if you only go to traditional banks. Instead of depending on others for advice, you should take charge and read some basic books on personal finances that could help you. Understanding how money works is the first step in making your money work for you. Do not you think?…

What credits can I request if I am under 25?

Once you are armed with the knowledge of personal finances, do not let anyone catch you clueless. When you need financing you have to look for the best option for you, the best interest and the best conditions. The truth is that now thanks to the new technologies of fintech you can request a credit from your mobile or any terminal that is connected to the Internet. The great advantage of quick credits is that, since quantities are small, conditions and requirements are usually too.

For this reason, most of them allow us to request their financing services simply by being of legal age.

We are going to compare the 5 of the best credits so you can analyze which one suits you best :

Entity Quantity Term Advantage
Hypocredit € 50 – € 800 7 – 30 days The first FREE microcredit
Creditent € 50 – € 1,000 7 – 90 days First free credit
That good! € 1 – € 600 1 – 30 days 50% discount with code HMC0815
Placredit € 50 – € 1,000 7 – 30 days 0% interest for new users
Truloan € 300 – € 800 3 – 24 months Flexible payment, you decide how much to pay each month

Although we also have to say that requesting a quick credit, it is not always the best option for your economy.

Having money in savings to use in emergencies can really keep you out of financial problems and help you sleep better at night.

Also, if you have the habit of saving money and treating it as a non-negotiable monthly “expense”, very soon you will have more money than the emergency: you will have money for retirement, vacation money and even money for a down payment on a new home. Planning for the future will help you achieve your goals. Being young does not mean that you do not want a stable and successful future.

Loans for young people without endorsement

Préstamos para jóvenes sin aval

One of the main problems young people have when applying for funding is that they do not have endorsements to support them when they apply for their loan. So finding a loan for young people without guarantees is an important part of the economy of the youngest. Some online lenders offer this type of financial product, that is, you can ask for a loan without having an endorsement, you just have to know which of the lenders give this option.

One of the lenders that offers this possibility in their credits is Currency. This lender also accepts users in the Financial Credit Institutions, something that is really interesting when it comes to making money online. We already know how easy it is to end up on one of these lists.

If you want to know more details of the loan without guarantees offered by Monedo you can read the section we have dedicated to you on our website, you will learn how to request your money quickly and with hardly any paperwork, regardless of your incidents in the Financial Credit Institutions.

Credits for young people without work

More than 40% of under-25s are unemployed, up from a peak of 53% in 2014, and about 10% of those without work have been unemployed for more than a year.

The traditionally high rate of unemployment in Spain fell to 8% in 2007.

Thanks to an economy that grew to more than 3% for the third consecutive year (GDP before the crisis did not recover in real terms until the second quarter of this year), the rate is up to 17%.

1.5 million more jobs are needed to recover the level of employment prior to the crisis.

Part of the problem of the high unemployment rate lies in the Spanish economic model, based on tourism (a seasonal industry) and construction, although the latter to a lesser extent.

The educational system is also to blame: at one extreme, the rate of early school leaving for young people between the ages of 18 and 24 remains high, at 22.7% (36.7% in 2006) and at the other end of the spectrum. Two-thirds of graduates say they are over qualified for the jobs they find.

Mr. Charles C. Monaghan, Minister of Economy, assures that more 1.5 million jobs will be created and that Spain will return to the 20.7 million workers it had in 2007, can it be said that the country has emerged from its crisis?

Many young people are out of work, but they need access to loans to start a business or to buy a car. Some online lenders have taken this into account and thanks to that today it is possible to have access to financing, even if we are out of work. To face the payment of a credit with the unemployment or another type of economic aid is possible.

Documentation necessary to request an agile loan

Another of the great advantages of agile loans is that you hardly need paperwork and much less paperwork than in a bank.

Thanks to the agility of these processes, they grant money almost instantaneously.

The documents that we will need to make our request are:

  • DNI / NIE : All the fast credits require a photocopy of the identity document by both sides of the policyholder, to verify the age of majority and that we are residents in Spain.
  • Account number : An account in which we are holders to enter the money as quickly as possible.
  • Bank statement : Some entities request a bank statement to check that there is stable income, it is not necessary to be a payroll, any recurring income and that this is enough to be able to meet the payments.

In the event that we are registered in a delinquency file such as the Financial Credit Institutions, we must present a document detailing the amount of the debt and the origin.

We will not have problem for this fact as long as we are not registered for a high value or owed to a bank.

When we need quick money, we hope they will get it in as soon as possible, so if we want to speed up the process to the maximum, it is advisable to fill out several applications, to choose among the accepted ones the one that suits us best.

We must also submit all the documentation requested so as not to delay the process.

Once the application is accepted by the entity they will contact us to accept the services, once we accept the money it will take about 10 minutes to be in our account.

Mortgage loans

Young people also have the option of applying for a mortgage loan.

If a young person wants to buy a home, the best option to finance that purchase is through a mortgage loan.

About the loans of this type there is much to talk about, perhaps the most important thing is to decide if we want a mortgage with a fixed interest rate or with a variable interest, this is very important.

This decision will depend a lot on the risk we may face during the duration of this mortgage.

Credits for young people

Apart from this, there are personal credits available from a variety of lenders. However, before choosing one, consider how much you need to borrow and what repayments you can make each month. After all, it is vital that you do not stretch your finances too much. You can, for example, want a loan to buy your first car or finance your studies. When taking a loan, you will pay the amount you have borrowed plus interest on the principal. If you do not adhere to the payment plan, you will face charges, so make sure you cover the monthly payment on time.

Remember that the higher the interest, the longer it will take to pay off the loan, and the more it will eventually cost you. So we advise you to look for a cheap credit that is trustworthy, without linked products and without the dreaded small print.

There are certain questions that it is very important that you ask before requesting financing, knowing the answer of these will help you to have the financing that you need at the correct price.