Have you heard about quick loans ? Do you know what they are? And the microcredit ? They are the same?
Although they seem the same, they do not have the same meaning and are very different concepts from each other, here in this section we explain the difference.
To understand better, let’s start by understanding what the difference between credit and loan is.
Credit : in a certain amount of economic resources that is available to a person or company, to be used at the time they require it.
Loan : is the amount of money that a person or company owes to someone else.
The main difference between both concepts is that the credit is an amount that the person or company that has the right to use it, can exercise it or request it at the time it so requires; while the loan is already a certain and fixed amount that a person or company must pay someone else under certain previously agreed conditions.
While the credit is not used, it does not generate any debt between the parties.
Both the credit and the loan are in a multitude of modalities in the market from: fast loans, micro loans, pledge loans, mortgage loans, personal loans, etc., and each of these serves a particular situation and need.
The particularity of the micro credits is that they are loans that are granted for small amounts, usually up to $ 10,000 pesos, and that serve to satisfy short-term needs.
The quick loans can be from small amounts like $ 500 pesos, to larger amounts for thousands of pesos, here the main characteristic is that the process of authorization and approval of the loan to the person or company that requested it, depending on the institution that it is granted, it can take up to no more than 24 hours. With this, what is being supported is to obtain resources almost immediately to solve other types of situations.
We support you to solve your short-term needs with micro loans that are approved and authorized almost immediately, based on a highly agile and efficient process, contact us through www.Smike.mx , text message or phone and We will gladly assist you to support you at any time.