By mid-2017, loans to payroll almost lost their relevance. Most NPA borrowers are targeting larger loans and loans. But from the beginning of 2018, this sector of the Loan market began to gain momentum again. This information was provided by the Bank of NPA in the information and analytical material
Trends in the Loan market
The Moron Bank, not without reason, believes that the reason for the increase in the popularity of microloans to paycheck is its strict regulation of this financial sector. And indeed, many of the requirements that were put forward quarter by quarter by the Bank of NPA contributed to strengthening citizens’ confidence in microloans. We are talking about various tools that have somewhat complicated the work of many MFIs, but at the same time made their lives easier for borrowers. Those companies that could not meet the next requirements of the regulator simply left the business. And those who remained in the market, every year became more and more popular for the consumer.
Microloans to salary
In addition to the fact that microloans to salary every year are becoming more reliable, another reason has been noticed for the recent growth of the popularity of this product. The fact is that many borrowers of Loan organizations indicate the reason for the appeal is a banal wage delay. It turns out that the money for which they had hoped did not come, but at the same time they know for sure that they will receive it soon. Therefore, such people are boldly sent to the MFI for additional funding.
Many of them have to pay their bills on time in order not to get late.
Just as any organization sometimes takes a loan to maintain its efficiency, some families also resort to such a financial instrument today. At the same time, if microloans are not available until the wages earned, people will have to mortgage their property at pawnshops or contact lenders outside the control of the Moron Bank.