If we think of an online loan, the first thing that comes to mind is a small loan or mini credit, with a low amount and a short repayment term. However, today there are many entities that offer loans of large amounts, to be repaid in periods that span several years. And, yes, you can order online with all the advantages that entails.
Personal loans and other long-term loans
According to the Bank, the average loan application amount in our country is between USD 10,000 and USD 15,000. That said, there are many reasons and projects for which many people need more money borrowed: a car, a home renovation, a debt reunification or even the beginning of a new company.
Luckily there are several ways to meet those needs. The first of these is that of personal loans, which can be requested online like any other loan, and that allow large amounts to be obtained to finance consumer loans. In these cases, the requesting person is usually the guarantee of the loan, so, the greater the amount, the better the credit history and the fixed monthly income. The good news is that personal loans have very low interest rates.
Loans with long-term personal guarantor are another option that exists on the internet and that has as an essential condition that another person is included in the application as a joint guarantor, with which the entity has the guarantee that that other person would face payment in the hypothetical case that the holder could not. The main difficulty is finding such a person, since he is assuming a high responsibility, but if the holder always pays on time, the guarantor will not have to do anything.
Loans with mortgage guarantee
These types of credits deserve a separate mention, given their nature. They are loans that allow you to get no more than tens, but hundreds of thousands of dollars in credit. The maximum amount to be requested is determined by the value of the real estate property (house, premises, floor, ship or land) that is provided as a guarantee of payment.
There are entities that offer a lot of flexibility with these products, since the idea is that the money be returned after many years (up to 20 or more). The property is the guarantee, which happens to be of the entity in case of non-payment extended by the holder. It is a way of obtaining money thanks to the fact of owning, but always taking into account the risk.
All these options are available online, offered by financial institutions, private lenders and banks, in an open and diversified market that is worth comparing.