Credit 500 US dollars: buy the best rate
Sometimes, to make ends meet or bring a small project to fruition, you may need urgent funding, not to mention unforeseen expenses. Often not having the necessary economy, it is usually only very small amounts not exceeding 500 US dollars. Where can we find such funding? Can banking establishments grant us a small loan not exceeding 1000 US dollars?
A loan of US $ 500 is part of a consumer credit or personal loan, whether affected or not. However, in the majority of cases, it can be obtained without any request for justification concerning its use. It may also appear in the category of revolving credits.
Remember that in the context of a personal loan, the lender offers an amount that can be between 300 to 75,000 US dollars. The consumer credit is to be repaid for a period of 3 months to 5 years. For the case of a 500 US dollar loan, the procedures are particularly light.
Loan of 500 US dollars: what project can be carried out with this sum?
In particular, you can ask for a loan of 500 US dollars to carry out some interior work or repair. The borrower may also deploy it for other reasons, to name only the payment of medical expenses or to supplement vacation expenses.
Since most US $ 500 loans are not required for proof of use, the borrower can use it as they wish. This type of loan can also be given to unemployed people, which would help them search for work more efficiently.
Sample loan of 500 US dollars
If you are looking for a smaller monthly payment, an online lending institution can offer a loan of 500 US dollars for 19 US dollars to repay per month. In this case, the repayment term can be up to 36 months with an interest rate of around 21.06%. For a better rate, you can find a loan of 500 US dollars with an adjustable APR of 8.00%, but this time for a repayment period of 6 months.
How to find financing of 500 US dollars quickly?
Since the procedures relating to obtaining a loan of 500 US dollars are more difficult with a traditional bank, it is better to go directly to online banks. On the other hand, if the borrower already has a revolving credit, he can without problem apply for a credit of 500 US dollars on condition of correctly ensuring the agreed repayment.
With the advent of the loan between individuals, it is also possible to borrow money without going through a banking establishment. Many online platforms already offer to mediate loans between individuals to avoid misunderstandings. It is indeed necessary to establish a contract, even between members of the same family.
List of documents to be provided for a credit request of 500 US dollars
Since a US $ 500 loan is part of a consumer loan, it requires much the same documents as this one. To obtain a personal loan, you must essentially provide:
- Proof of address
- Identity document of the borrower
- Proof of income (payslip, employment certificate, etc.)
- A bank identity statement (RIB)
However, the documents to be provided may vary from one banking organization to another.
Compare your US $ 500 credit
Since there is a plethora of US $ 500 loan offers, it is best to do a little comparison before signing a contract. How to do ? To simplify the search for future borrowers, online credit experts have set up credit comparators and simulators. These tools, in addition to allowing the borrower to have a multitude of loan offers and to choose one according to his needs, also give him the possibility of determining his borrowing capacity. They can also help him get an idea of the monthly payment he will have to pay based on his financial resources.