Maybe you need a small amount of money a little quick to solve a financial situation. It is for these types of events that micro loans are created. Here we will raise some concerning loans of USD 4,000.
In almost all cases where someone wants to borrow USD 4,000, it is a micro loan that applies. Micro loans are loans that range from about USD 500 up to USD 10,000. What is also special about micro loans is that they have such a short maturity. This is often only 30 days.
Loan of USD 4,000 = One micro loan
However, when you start coming up to amounts like USD 4,000, there are sometimes opportunities to repay the loan for a little longer, which can then be about 60 days instead.
Micro loans are not a cheap loan to obtain, but you will have to pay a number of USD 100 to borrow USD 4,000. The prices are often somewhere between USD 500 and 800 for this loan amount. Something you can keep an eye out for to find a slightly cheaper loan is if the lenders offer some discounts to new customers. This is not at all uncommon and it may then be the question of large price differences.
Getting such a discount only goes if you are a new customer with a lender and there is no requirement to borrow from them again. Which, of course, is their wish that you do.
Because micro-loans cost so much, it is important to have a good track of the finances before a loan of this type is taken. You should know that enough money will be in the account when the maturity expires to settle the repayment. If you are not sure of this, you should definitely not borrow money as there is a great risk of financial problems in the future.
Apply online or via mobile
These are the two main ways to apply for a micro loan and both work really well and are flexible. All information on how to apply for a loan is always easily printed on the lenders’ website and it is simple. However, we usually advocate that you apply for the loan through the web as there is a great advantage to this.
It is true that not all lenders accept applications that come in via the mobile phone. This makes it impossible to compare the prices of all lenders and thus you, as a borrower, risk paying a higher price than necessary. As price levels vary widely, it is smart to try to find the cheapest loan.
We compare micro loans of USD 4,000
Here on the site you can find a comparison between many lenders that lend USD 4,000. You will quickly find what it will cost you in total to borrow money from them precisely and you can easily sort by which one is the cheapest.
A little further down in this article you will also find a list of lenders who lend this amount and there is also a quick comparison.