Micro-loans characterized by the loan are of a smaller amount and must be repaid quickly. Folk Lender offers micro loans of NOK 1,000, 2,000 and 3,000. There are two ways to apply a micro-loan from Folk Lender. Either you can surf the company’s website or you can call Folk Lender.
In order to apply for a micro-loan from Folk Lender, you must fulfill certain basic conditions
You must be over 20 years of age and have lived in Norway for the past two years.In addition, you have no credit history. When submitting an application for micro-loans by Folk Lender then check the information against the company registering the various credit bureaus.
If you believe that available data about you in credit reports is incorrect, you may contact Folk Lender customer service. Are you not entirely sure that you can repay there micro-loans of people’s time, so you never have to borrow.
Always try to make a realistic assessment of your private finances before taking a micro-loan from Folk Lender.
It is possible to apply for a micro-loan from Folk Lender 24 hours a day
When it comes to paying off the micro loan, you will have money in your account within a few hours if you apply before 13.00 on weekdays. If you want to apply for a micro-loan after 13.00 on Friday or over the weekend, you will get the money in your account during Monday morning. However, getting your loan paid off may be faster, depending on which bank you have in your account.
There may be several reasons why, despite the fact that you meet these conditions, you will not receive a micro-loan from Folk Lender. You can only take a micro-loan at a time with Folk Lender and would you have paid off the previous loan less than four days ago, it is not yet registered. Furthermore, there may already be a pending application.
Repayment of debt to Folk Lender is 30 days
If you have borrowed NOK 1,000, you must pay NOK 1,250 to Folk Lender. For loans of NOK 2,000, you pay NOK 2,300 and loans of NOK 3,000, so you pay NOK 3,375. You should always check the exact amount on the due date. This data is in the invoice sent to you. If you are unable to repay there micro-loan of people’s time that case will be sent to the debt collection.
Folk Lender also offers so-called folk loans
You can borrow up to NOK 25,000 without collateral. Furthermore, you can choose between one, two or three years repayment. To be eligible for a Folk Lender loan, you must be at least 20 years old, have no credit history, and have an annual income of at least $ 120,000.
After your information has been reviewed and the application is approved, then a debt is created on the Folk Lender website.
You print this debt and send it to Folk Lender.
When Folk Lender receives this letter, it is not the last check, so everything is fine. It then sent a debit card to you.