Pros and Cons of Each Loan Method : FBLITE

Money Loans The Right Online Solution VS Conventional

The changes of the  current era have  made many  money lending  solutions emerging in various regions.   Indeed, it is not uncommon for loan offers  to appear by sms sent to your phone number.   The offer also offers a variety of interest rates ranging from lowest to highest.

When, in difficult times,  you often find a way to borrow money,  whether through close friends from a loan services company. This method   you think of can help in  the hope of returning it as soon as you get a replacement.   Although it does not bloom, it is possible that your  good relationship is damaged.

Not only when you need money for your personality, when you want to open a new business or business, of  course, you need  funds and capital at the beginning.   When this happens,  you are unlikely   to  borrow it from a friend because of the large enough   amount.   Then you will look for a large amount of borrowing.

Money becomes something that supports life

Money is still often a problem for the community because of the many needs that need to be met.   Then people will make great efforts to earn an income in order to support themselves. Therefore, it  is often said that money is the solution to many things.

But getting money by  borrowing can be detrimental if you can’t return it immediately.   So now  there are various loans that can be disbursed quickly.   The  right solution money loans  are even sheltered by   large companies.   At least currently, there are two ways to lend that can be used, namely online and conventional.

Pros and Cons of Each Loan Method

Conventional loans  are  still used today, even though many online loans have emerged. In the age of sophisticated technology, awareness is needed in development.  The differences of each of   these lending methods will be explained according to their  advantages and disadvantages.


To  make a loan of money, the right solution  , of course, there are pros  and cons  of   both that you need to know before borrowing.   Conventional or manual loan means coming directly to the place to make a loan.

You will meet   with customer service or the people who serve in the place.     Then you will be asked about the amount of the loan needed and fill in the data  according to the needs of the company.   Later, your data will be associated with an  ID card to  indicate whether you  can get a loan or not.

Usually, companies that provide conventional money lending services are BANKS.  The advantage of conventional monetary loans is the clear inauguration of the business and the absence of the need  to  use tools to  make  loans.   But what is missing is that many end up switching to online loans.

The disadvantage of this classic  loan  is the advantage of online loans. One of them is a  quick process  so you don’t have  to spend time  queuing up on the spot. The time you use is not wasted.  This benefit is especially felt when there is a sudden need.

Therefore, online loans are often called  money  loans  the right solution  compared to conventional methods.   In addition to being a quick process  and can be done anywhere, online  loans also   have  advantages in terms of very easy requirements.   You must prepare photos of your ID.

How to Make Online and Conventional Money Loans

Even though both methods have their own disadvantages and advantages,  but you still need to adjust the needs that you can.   However, since currently, you can borrow more easily online, it  never  hurts  to try some steps to borrow  money online as  in  below.

  1. Choose a trusted app

The first important step  for you is to choose a  trusted online lending app.   Not all apps already have official permission and are subject to the OJK.   Therefore, make sure that the app or company you are borrowing from  already  has  an OFFICIAL OJK logo.

  1. Download on Smartphone

In addition, when you have chosen, you need to download the app on your smartphone.   As a money loan, the right solution  is  to  make sure that the  interest on the loan at  this place is also low so that you do not have trouble paying it.

  1. Fill in your identity

The third step  if the app is already installed, open the app and fill in your data or identity.   Make sure everything is  filled in correctly and completely.   This is to  avoid possible errors that may occur that are rejected by the company instead.

  1. Ready

If you have finished filling in the identity and have been confirmed by  the  app developer,  make the loan with the  amount  you specified and the time for a full repayment. In  this step, it  is very important to pay  attention to  it  and should not be underestimated.

  1. Confirmation from the company that made the request

If you are sure of the amount and duration of the loan, you will be asked to follow the steps and wait for confirmation  from the company.   Some companies take a little longer to confirm due to the large number of requests.

However, some companies can send in a few hours and even   minutes a  response to the request to borrow the funds you send.

Consider using money loans as the right solution

Before you do the above steps to borrow money, there are several considerations that you need to pay attention to when making a money loan, the  right solution using the app on your smartphone or conventionally.   The considerations are as follows.

  1. Payment plans

First of all, in addition to the  purpose of the loan, you need to consider the payment plan you need to make.   Try to compare the income you get with when the  loan is paid.    Online and conventional means should also take this into account.

Usually, at the beginning of the   loan money, the right solution  , you need to declare the profits and losses,  the cash flow statement, to be able to analyze the   work and business situation you are currently experiencing as a form of guarantee for the company.

  1. Loan amount

Second, there is the amount of the loan.  It is not because of the borrowing facility that you end up with and do not  carefully  consider  the nominal of your loan.   You can borrow the right  amount and don’t need to exaggerate as it  will be even heavier for you on the way back.

  1. Warranty or guarantee

Last of the money loans  the right solution  that is  no less  important is to consider guarantees or guarantees  .   A conventional BANK or  online loan requires a guarantee or guarantee as proof.   You cannot underestimate this as  there are often rejections due to non-compliance with the guarantees  you  provide.

However, a few may also provide unsecured loans due to the small amount of loans.   Usually, the loan guarantee  requested must be in accordance with the nominal loan to avoid the possibility of being late  or not being paid at all  by the borrower of the funds.

When lending both conventionally and online, you need  to  make sure that everything is safe and doesn’t make mistakes. Therefore, it is a good idea to find the  best information about the  right money lending   solution you choose.

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