New payday loans on the 2019 market – the latest loan companies

Few of us can say that we have a clean account and have never used a loan, cash loan, credit card or account limit. This is because we simply cannot cope with expenses – both current and urgent.

We are not satisfied with our earnings, for which we are not able to make a living from withdrawal to withdrawal. In the flood of thoughts and searching for a solution on how to comprehend your finances, fast online loans appear first. Check when it is worth applying for such a product and how to recognize a good and reliable company.

Where is it worth submitting the application?

Online loans are becoming more and more popular, mainly due to the possibility of receiving money directly to your account even within 15 minutes. Check who the lender is, how much you can borrow, when should you pay back, and whether the first loan for new customers is free (APRC and the loan interest rate is 0%).

After clicking on the name of the loan you will be redirected to a detailed product analysis. You will learn about the company, brand, required documents and financing rules. If you have additional questions – feel free to leave them in the comment, and we will definitely help you!

Check also the full list of the best payday loans in our payday loans ranking

Are non-bank loans popular?

Loan companies have become serious competitors for banks. It is mainly about quick loans for a small amount – lenders often offer them for free to their new clients, which is certainly not found in bank offers. According to data from the Credit Information Bureau, in 2018 loan companies provided financing for a total amount of over PLN 7.2 billion! This is as much as 41% more compared to the previous year. Quick verification of creditworthiness, lack of formalities and payment of money even in 15 minutes are one of the most important reasons for their popularity.

At the end of 2018, 571,000 were in the BIK database. persons who jointly had over 5.2 billion PLN to pay, and in the Register of Debtors BIG InfoMonitor on the last day of January 2019 there were over 361 thousand persons with a loan arrears totaling PLN 2.4 billion.

Non-bank companies grant as much as 2/3 of loans up to PLN 2,000 on the entire financing market for low amounts. Looking at the entire cash financing market (bank loans + non-bank loans), this share is around 10%.

What requirements must a new loan company meet to enter the market?

A loan company is an entity that conducts business activities on the financial market. However, it does not belong to the banking sector! This company grants cash loans to individuals or, sometimes, to an entrepreneur. He obtains cash only from his own resources. Importantly, no licenses or permits are required, only the following few requirements need to be met.

The requirements that must be met when setting up a loan company are:

  • entry in the Register of Loan Institutions (it operates at the Polish Financial Supervision Authority). The registration fee is PLN 600,
  • share capital in the amount of min. PLN 200,000 fully covered from the founders’ own funds. It means that funds cannot come from other sources, i.e. loans, credits, bonds or other banking products,
  • company registration in the National Court Register in the form of a limited liability company or joint-stock company,
  • appointment of the company’s management board or supervisory board. Their members cannot be punished.