Acquiring a payday loan by people who work in some public or private institution , and receive fixed salaries, is much easier to approve. Called payroll payday loan, the installments to repay the payday loan are fixed and discounted in the paycheck. The employer himself passes the money on to banks and financiers and deducts from the employee’s payroll. The default for this type of payday loan is practically nil, and therefore the interest is lower.
But what about self-employed workers who do not work at a fixed location, and do not receive a fixed amount every month registered in a paycheck? It is not interesting for the financiers to make this type of payday loan, more risky for them because of the lack of guarantees provided by the autonomous. The financial ones, therefore, compensate for this lack of guarantee in high interest rates. Interest rates on payday loans are extremely high and the amounts available for payday loans are low. It is quite risky for the self-employed this type of payday loan. Let’s see more about their conditions.
How to get payday loan for freelance
To obtain the autonomous payday loan , it is necessary that the person is not registered in credit protection agencies such as SPC and Serasa. In addition, you need an income statement made by a “pro-labore” accountant, with your personal data and the quantification of your monthly or annual income. The bank statement of the last three months is also required for analysis. Through these documents any self-employed can try to get the payday loan. There are no restrictions other than the name that must be clean in the square. If the payday loan is approved, the amount requested enters into your checking account immediately.
The guarantees that the payday loan banks will ask for are usually pre-dated checks, which will be discounted every month in your account. But they can also use the current account debit and even the credit card. As we have said, interest is the great danger. Each company has a table according to the profile of the contractor, but it is a rule that the interest is all abusive. They can get up to 18% a month. An example is that if you get 300 reais borrowed, the next month it will have turned into 350 reais.
An alternative to credit and financial banks is to try a personal payday loan at the bank where you are an account holder. If you are an old customer, without major problems like debts and delays, talking to your manager might be better than looking for a bank. Interest rates are lower and the amounts available may be higher.