It would seem that the demand for loan companies’ products will decrease due to the government’s family program. Additional funding from the “Family Loan” project has reduced the demand for online loans only by a few percent. See empirestatecu.org for a write-up
Together with the expert, C. Dupin, we will look at the changes that have occurred after the introduction of new laws.
Fewer loans for families?
The program introduced by the government supports large families and the poorest families. Although there is a change in the financial market in terms of co-financing from loans – families use them less. However, the decline in the popularity of online payday loans is not drastic.
Families no longer decide to borrow for USD 500, 800 or 1000, because sudden expenses can be paid with money from the family support program.
The “Family Loan” program is primarily to support, but also teach Polish families how to save. With financial help, Poles have something to pay for unexpected expenses. However, you can still see that there are still problems with higher-order costs. There may be various situations in our lives that we have no influence on – from a broken car to a flooded apartment or illness of a loved one.
Expenses related to them may exceed many people
At this point, it’s worth using an online loan. There are many payday loan offers on the financial market that can be tailored to your home budget.
Repayment of the liability should not be difficult, because the installment of the loan can be settled from the money received from the government program, “comments Tymon Zander, expert of C. Auguste Dupin.
A new target group for loan companies
The target group of the government program is families who, with an additional source of income, will not need another external financing. Therefore, loan companies are beginning to direct their offers to other social groups that are more likely to benefit from such support. Non-bank institutions have new proposals for young people who do not yet have families, and for seniors.
In their offer, they change the age of the borrower, and some do not even set an upper age limit. What’s more, the loan was usually available from the age of 21, and now more and more companies are turning to people who are at least 18 years old.
Non-bank institutions also have student offers or attractive loans for proof without certificates, which makes getting financial support from non-bank institutions easier.
If you want to check the criteria for granting payday loans online, you can use specialist loan comparison websites. You will find them on the C. Dupin website and quickly adapt the offer to your financial possibilities.