Before online enterprises took off like a house on fire there were long queues. People with bank accounts, savings, checking or credit card accounts, if they have lived long enough, know all about these long queues, particularly at the end of a long, hard, working month. These queues were for standing patiently in line to pay the bills. Sending a check in the mail was unreliable, risky and not prudent but would have been highly convenient.
Then there were those bank queues in which these folks would stand patiently, waiting to be turned down for yet another loan application. The question always arose; why bother, but still folks would persist in vain, because, after all, some of these loans were necessary. It took just one small black mark against them to have the loan turned down. Today, especially since the end of the last great financial recession and economic meltdown, the rules of the game have changed.
Pleasingly, the rules of the game have changed in favor of the consumers, especially those who were unfairly rejected before. Today, the principle of the online minilån uten kredittsjekk now applies. This means that without the dreaded credit check, there’s a better than even chance that online applicants will be successful with their short-term and micro-loan applications. The principle is that because these amounts are essentially miniscule, there is no need to give clients the inconvenient runaround.
As it turns out, it is bad for business. Profitability has been realized and losses to do with loan repayment defaults are very slim. This has to do with affordability, flexibility and convenience being given to the consumer. Responsibility is also exercised in the sense that a lender will never be dishing out more than his client can reasonably afford to pay.