Private lenders in Mexico? Are they a good option?

 

As we discussed in the previous post that we talked about credit bureau loans, not all people are eligible for different reasons to have a personal loan from a banking or financial institution, so what can a person without access to this do for get a loan? Contact private lenders, then we will explain what private lenders are…

Private lenders

Private lenders

Private lenders, of which we will investigate a little in this article. These types of loans are made by any person or company that meets the requirements to grant loans, that is, to comply with regulations in the style of a contract.

The interesting thing about private loans is that you have to set yourself a limit, since the lender will give the money with the conditions in which you negotiate, whether it is a property such as collateral, physical products or absolutely nothing. Generally, private lenders have higher interests than online financial institutions, in addition to the actual payment requirements. Usually, this way of obtaining funds is used in states of despair and lack of liquidity without consulting other options.

Disadvantages of private lenders

Disadvantages of private lenders

This option of private lenders does not sound so attractive due to the complications it represents. As an alternative, we have online lenders that offer great conditions on their loans with few requirements, we even talk about the need for a guarantee.

One of these great options to obtain financing is CashMan, an online financial institution that has the capacity to lend you up to $ 12,000 pesos in 15 minutes. Easy, fast and practical!

The first time they lend you, you are transferred a maximum of $ 5,000 pesos and then you can reach the maximum amount. The advantage of CashMan is that they only have the following requirements: access to an internet connection, legal age of majority through the possession of INE / IFE, an active debit bank account with recent movements and being a Mexican citizen.

CashMan personal loans are delivered via bank transfer after no more than 1 minute of waiting in which they respond once you send the request and no matter the day, CashMan is available all year round, at all hours. Payment dates range from 7 to 30 days for loans of up to $ 12,000 pesos.