Look for Money Loans for Personal Needs and Business Capital

It is undeniable that the needs that we must meet are increasing.

The fluctuating economic life often leads to a significant increase in the price of necessities.

Often, this is not accompanied by a corresponding increase in income.

Therefore, looking for a loan for loanplususa.com various daily personal needs is a way out.

Not only for personal needs, this often causes many people to have difficulty having funds for business capital needs.

Below are alternative places to borrow money that you can choose if you are in need of cash to meet personal needs or business capital.

Money Loans for Personal Needs

1. Bank

If you are looking for a money loan, the first place you can try to apply is at the bank.

Banking institutions are the most widely used source of money loans by the people of Indonesia.

Applying for a loan to a bank is relatively safe and secure, but before that you have to meet quite a lot of requirements.

Not infrequently, you are asked to pledge valuables so that the process of looking for a money loan that you do can be accepted by the bank.

Don't have any valuables as collateral?

Now the bank already has a KTA or Unsecured Loan , which allows you to borrow without any collateral.

But without a guarantee, of course the risks faced by the bank will be even greater.

Well, this affects the loan interest rate applied to your loan later.

The interest rates for unsecured loans are relatively higher than those for secured loans. Interest rates on unsecured loans can even reach 20% per year.

2. Non-Bank Institutions (Savings and Loans Cooperatives)

One of the non-bank institutions that you can use as an alternative to borrow money is a savings and loan cooperative institution.

If you want to get a loan from this cooperative institution, you usually have to first become a member of the cooperative.

By becoming a member of a cooperative, you can get loan funds according to the goods guaranteed.

In addition, applying at a Savings and Loan Cooperative tends to be easier than a bank, with flat interest and the opportunity to get SHU.

SHU is Remaining Operating Results, one of the benefits of being a member of a cooperative.

SHU is regulated in Law no. 25 of 1992, concerning cooperatives.

In the law, it is explained that SHU or Remaining Operating Results is the cooperative's income earned in one financial year minus costs, depreciation, and other obligations including taxes in the relevant financial year.

If you join a cooperative membership, you must first ask about the SHU that will be given later.

The reason is, there are some unscrupulous cooperative elements who do not explain in detail about this.

If you are interested in finding a money loan at the Savings and Loan Cooperative, here are the requirements that you must prepare.

1. ID card as proof of being an Indonesian citizen
2. Status as a member of the cooperative
3. Fill out the loan application form
4. Show KK, electricity bills and payslips
5. Prepare supporting documents, such as land certificates or BPKP.

After everything is complete, you can then go directly to the intended cooperative.

Make sure the cooperative is registered with the Indonesian Ministry of Cooperatives and Small and Medium Enterprises, yes.

In addition, choose also those who already hold permits from the Financial Services Authority (OJK).

Not only that, you can also make loans to MFIs or Microfinance Institutions that offer unsecured loans.

By applying for a loan at this non-bank institution, you can also carry out the negotiation process regarding the required loan amount.

3. Online Loans

With the development of digital technology, there are now many online loans (Pinjol) which are a solution for those of you who are looking for a money loan.

Usually this type of money loan is offered by various financial technology or FinTech companies that are now experiencing significant growth.

On the one hand, this is very easy, because usually you are simply asked to upload documents online via a smartphone and can already apply for a loan.

Online loan services are money lending services that are regulated and supervised by the OJK.

Financial Services Authority Regulation No. 77/POJK.01/2016 Chapter 1 Article 1 Line 3 which states:

"Information Technology-Based Borrowing and Borrowing Services is the provision of financial services to bring together lenders and loan recipients in order to enter into lending and borrowing agreements in rupiah currency directly through an electronic system using the internet network"

So, before applying for this type of loan, you should do a self-check whether your chosen FinTech is registered, licensed by the Financial Services Authority (OJK).

You can apply for a business loan with a peer-to-peer lending system, up to IDR 2 billion with low interest rates starting from 0.75% per month.

Tips to make Online Loan Applications Safer and More Convenient

Having an urgent financial problem but confused about how to solve it? Want to apply for a loan at a bank, but are constrained by complicated conditions and cannot be fulfilled? In fact, this problem is still often felt by some people, especially those who have never applied for a loan and do not have valuable assets to serve as collateral or collateral.

loanplususa.com

Fortunately, as a result of technological advances, applying for a loan is now much easier to do online. With light conditions and a simple process, online loans or loans can be accessed by people from all walks of life. In fact, in some services, online loan applications can be done only with an ID card and salary slip. 

Even so, for ordinary people or without experience using digital financial services, applying for an online loan can feel confusing and make you anxious. This is even more so with the large number of reports about illegal loans that continue to ensnare victims to this day.

Yes, applying for an online loan still needs to be done carefully, although it is quite easy to do. If you get stuck on the wrong service, there are a series of consequences that will be felt by users.

Starting from, theft and misuse of personal data, exorbitant interest, large late fees, to inhumane billing methods. In addition, even in legal lending services , borrowers still have to be wise because the interest rate on this loan is relatively higher. 

So, what is a good and safe way to use online loan products ? No need to worry, there are many tips that can be done to minimize the bad risks of online loans such as the following. 

1. Choose an OJK Registered Online Loan

This one tip is arguably a tip that must be done by anyone who plans to apply for an online loan . By applying for a loan at a service registered by the OJK, everything related to credit activities, such as interest rates, repayment tenors, to billing methods will be adjusted to the applicable rules and regulations.

It's different when you apply for an online loan at an illegal service and the origin is unclear. In addition to charging interest rates and late fees that are too high, illegal borrowers also often collect inhumane ways as is often reported by the mass media.

Therefore, before applying , first make sure the legality and registered status at the OJK. To check this status, you can visit the official OJK website. 

2. Apply with the Right Amount and Check the Interest Amount

Another important thing you have to do is determine the loan nominal accurately and make sure the interest rate remains affordable. Depending on the lending platform and tenor policy chosen, the interest rate you receive can vary widely. 

You must do these tips to avoid the risk of not being able to pay off your installments on time, let alone being in arrears. Because, if that were to happen,

Not only do you have to pay late fees that may immediately increase your installments, but you also get a bad credit score. Therefore, so that loan activities can take place more smoothly and safely, try to carefully consider the nominal amount of funds to be borrowed, the interest rate, and the repayment tenor.

3. Find Out the Track Record of Fintech Loans Online

Not only ensuring the OJK registered status, you also need to find out the track record of the online loan platform . You can do this by looking at reviews or reviews that are spread on social media and independent digital forums. Usually, people will write reviews about their experiences using an online loan . 

In addition, you are also required to read all the terms and conditions of submission . That way, you can understand all the risks and be wiser in choosing the best online loan . 

4. Make sure the online loan service has enough active customers

The last tip, in order to ensure the security of an online loan platform or service , you need to find out in advance the number of active customers, whether there are many or not.

With a large number of active users, it means that online loan operations are in conducive and convincing conditions. On the other hand, if the number of customers is too small, don't hesitate to look for other services to avoid unwanted things later.