Personal loans are the order of the day. You can even get online loans in a matter of minutes, but have you heard of group loans in Peru? Well, for banks and financial companies they are not a new issue and even many prefer personal ones.
Why? Because they have less arrears than individual loans (only 1%). Learn more about this loan modality.
This type of loan is inspired by oriental models
In fact they are ideal credits for companies or people with business or some productive activity.
Thanks to this type of loan, which comes to represent an investment, you can increase the profits of your company or yours through your productive activity.
Steps for a group loan
To start you must form a group. Usually of a minimum of twelve people. The advantage of the group loan is that you select the members yourself and all the members of the group must agree with each other. By knowing each other and being a group that you select yourself, you can know if you make a team with good payers or not.
With the group defined and well selected, the amount to be requested as a loan is chosen. If the bank accepts, usually 5% of the loan goes to a common account of the entire group.
Advantages of group loans
A great advantage of group loans is that if a person does not reach the amount to be paid per month, the more members can help you, together, so in the shortest time the person owes the money he will pay his other “partners ” As you can see it is a form of loan where people support each other.
It may not be the first choice for everyone, but if you have an organized, timely and reliable group, it can work more than well and strengthen everyone’s business. What do you say? Would you cheer for a group loan? Just try to select the group members well, you will not want to damage your credit history because one of the members does not really commit to paying the debt.