Micro Finance Lending Institution Offers Flexible Repayment Options
Collection Line Credit is an unsecured non-derivative taking Micro Finance Lending Institution established with strategic intent to fulfill an increasing unmet need of offering structured working capital products to People and Small Medium Enterprises (PMEs) in the United Kingdom. Funded by the State, this business line of credit facility enables small businesses to make credit deals without borrowing from private financial sources. The institution extends credit based on business profitability and projected cash flow, thereby helping entrepreneurs and small businesses achieve financial freedom. Micro Finance Lending Institution, also called Micro Line of Credit or MICOC, functions as a bridge between the traditional small business funding sources and potential private commercial financing, such as personal savings, corporate bonds, life insurance, merchant financing and loans from the UK Private Funding Pool. The Micro Finance Lending Institutions are primarily selected from a range of lenders based on their terms and cost models.
An unsecured non-deposited take out loan can be made through the Micro Finance Lending Institution with its wide range of personalized cash advance products such as instant credit cards for working cash needs. This type of financial support is suitable for borrowers with bad credit history or other collateral requirements. The cost structure and interest rates offered by the Micro Finance Lending Institution is flexible and allows the borrower to choose from a variety of repayment methods including; direct debit, credit cards, debit accounts, electronic cheques, postal money orders, and premium payers. It also offers flexible repayment periods ranging from one month to 3 years.
Micro Financial Lending Institutions also provide check-off loans that can be converted into cash within 24 hours of the check being collected. The processing time is one-day and the money will be available for use within the next working day. Micro Financial Lending Institutions also provide cash advances in the form of title deeds or mortgages to individuals. Micro Title Deed Loans are non-deposits that are repaid within a specified time span. The repayment terms are specified in the title deed agreement.
For borrowers who need emergency fund to cater for an unexpected expense, salary advance loans are issued by Micro Finance Lending Institution. A salary advance is a temporary financial support designed to cater for an unplanned expenditure. Repayment options are flexible repayment terms of up to two weeks to one month in advanced and is converted into a standard check when received.
Employees of a Micro Financial Lending Institutions are eligible to apply for salary advance loans. This type of financial support can be used for a number of purposes, such as the payment of living expenses, travelling expenses, school fees, and even for purchasing things like computer equipments, stationery, and furniture. Borrowers who wish to apply for these loans should have a job and an active bank account. The processing time taken in processing applications is relatively less compared to other types of loans available in the market.
Business check-off loans are issued by a Micro Finance Lending Institution. This type of financial support is similar to other types of bank check loans. However, the Micro Finance Lending Institution processes the application without the involvement of a broker. This makes the process faster, and allows borrowers to use the funds for their intended purpose immediately. The processing time takes a maximum of twenty four hours to complete depending on the size of the loan. To apply for this type of loan, borrowers need to visit the nearest branch of the institution.