Online Micro Loans
Gone are the days where you would queue in banking halls seeking services. More people have embraced the use of the internet which has made life so much easier. In case of an emergency, all you need is an internet connection to secure funds.
Microloans online are relatively small amounts of cash lent via the internet. The borrower makes an online application, upon approval of the loan and the lender disburses funds directly to the borrowers’ accounts without any physical interaction.
Where to Apply for Micro Loans
Many lenders have embraced the use of the internet to reach more clients. Visit your preferred lender’s website to see if you meet their lending criteria. It is also convenient for you, as the borrower as you can compare the lending terms of different loan providers, enabling them to make informed decisions.
Some of the microloan providers in NZ include Just Dollars Trust, Aviva, Newtown ethical Lending Trust, Step Up Low-Interest Loans, NILS (No Interest Loan Scheme), QIET (Quaker Investment Ethical Trust), etc.
What you need to apply for Microloans
The requirements for getting microloans online vary from lender to lender but some cut across all, these include:
Applicant must be 18 years and above.
A government issued ID, e.g. A valid Driver’s Licence.
Proof of ability to repay the loan.
The business plan for a start-up.
Proof of physical address.
Purpose of the loan.