Reserved for people most in financial difficulty, social micro credit allows the borrower to finance property in order to improve his daily life and his situation. How to learn about social micro credit? Where to apply?
If the micro credit professional is granted to create or develop a professional activity, the micro credit social, it, aims to improve the situation of the borrower through a personal project. It allows the buyer to borrow between 300 and 5,000 euros. It is mainly intended for people who can not get a bank loan. It is a loan obtained at a reduced rate and guaranteed jointly by the State and the lending institution. The repayment period for this type of loan is five years maximum.
Created in 2005, the Social Cohesion Fund has promoted the development of personal microcredit by providing the Cassa Pat Consignations with a budget to guarantee these loans up to 50%. For institutions, personal microcredit serves to combat both bank exclusion and household over-indebtedness. In 2016, an estimated 5 million people can not qualify for a conventional bank loan.
Who can benefit from social micro credit online?
Social micro-credit is rather reserved for people who can not obtain a conventional bank loan. Among these people, those with too low incomes whose debt ratio of a conventional loan, about 33%, would be too important. People with no job stability, such as permanent workers, often have difficulty borrowing money. Young people, job seekers or beneficiaries of the RSA can apply for social micro credit. Finally, prohibited bankers in the central check file can also claim a micro credit online.
What can a social micro credit fund?
If the basic loan is between 300 and 5,000 euros, this amount can be revised depending on the situation of the borrower. In many cases, microcredit can be used to purchase or repair a vehicle for the purpose of getting to work or getting a job. This is the case for more than 74% of loans granted in 2014, according to Cassa Pat Consignations , for an average loan amount of € 2,266. Nevertheless, the borrower is entitled to use this money to finance another type of property, to the extent that it relates to employment or professional mobility.
How to apply for a social micro credit online?
First of all, you should know that it is not possible to directly apply for a social micro credit online. However, it may be worthwhile to start some online approaches to the future social micro-credit application to find out which organizations might lend on more flexible terms.
Micro credit social online: where to inquire?
Without being able to apply for a social micro credit online, it is possible to find which organizations lend easily money. Among them, the local missions or associations such as the Restos du coeur or the Red Cross. These associations can act as intermediaries with the bank or even sometimes act as guarantors of a bank loan. They will support the beneficiary in his efforts and guide him towards the most appropriate financial institution. A simple search on the internet will make an appointment with these various associations near your place of residence. If all banks do not offer the micro credit social option, some are partners.
Among the best known, Creditcole, Crediteriol, the Foster Bank or Credit Mutual. No organism is to be neglected, it is better to consult too much than not enough to have more chances to see the project succeed.
And if you prefer to apply for a social micro credit online, it is possible to proceed by mail, filling carefully some boxes. It is essential to explain the reason for the use of social micro-credit: in particular, what kind of property will it finance? It will also explain the cause of the refusal of conventional bank loan: income too low? Searching for a job? Finally, do not forget to indicate your availability and time slots to which you can be attached. You will be contacted to arrange an appointment and finalize the funding project.
This preliminary request will allow the organization to study the solutions before contacting you. Be careful, do not neglect this step, which can be decisive on the sequence of events and allow you to get a social credit or not. top