If you want to borrow USD 2,000, it is normally a micro loan that you should look for. There may be some very few other options to choose from, but it is not at all certain that you will find another way. Micro loans usually range from USD 1,000 to USD 3,000. However, there are some lenders that offer both smaller and larger loans of this type. An advantage for those who want to borrow USD 2,000 is that most, if not even all lenders who work with micro loans, just lend this amount.
These small loans go under many names such as SMS loans, fast loans and micro loans. Fast loans and micro loans are exactly the same and SMS loans are almost the same too. The difference between an SMS loan is that you only apply for it using your mobile phone, while a micro loan can also be searched through the web.
Micro loans are, as we said, small in relation to the larger loans without collateral such as private loans. A private loan can extend up to USD 350,000 and is repaid over many years. Micro loans should instead be repaid in a very short time, which is almost always 30 days for loans of USD 2,000.
You should also be aware that micro loans are by no means cheap loans to take. You have to pay a relatively high cost to borrow USD 2,000 from a lender. Prices often range from USD 300 and up to about USD 500. However, it is possible to get away cheaper if you are a new customer with a lender as some have offers to new customers who say they can borrow at a lower price.
How to borrow USD 2,000?
Taking a micro loan of USD 2,000 is very easy as you have two ways to apply for the loan normally. As we suggested earlier, it is the question of web applications and applications via SMS. The advantage for SMS loans, which then becomes, is that such an application can be submitted regardless of whether you have access to a computer or not. The disadvantage of these is that not all lenders lend money in this way which makes it harder to get the best price.
When it comes to web applications, they are easy to do as it is just a form to be filled in. The big advantage here is that you can borrow from any lender which means you are more likely to find a cheaper loan. It is also just as easy in the rest and perhaps even easier to apply via the web than it is to borrow money via SMS.
What does it take to borrow USD 2,000?
There is normally no higher requirement for the person who wants to borrow USD 2,000. The basic requirement is that you must be of legal age and written in Sweden. After that, the conditions may vary somewhat. Some lenders, for example, require an income of about USD 5,000 per month, while others settle for a few thousand. You always have to have an economy that is good enough to handle the credit check that will be performed. So having an economy that is under good control with the greatest assurance that the loan application is approved.
Some lenders also approve applications from people who have payment remarks. The payment note negatively affects the results of the credit check, but this can be offset by other positive things such as income.
Who can borrow USD 2,000 out of it?
Because probably all lenders who have micro loans offer loans of this size, you have many options to choose from. A little further down in this article you will find a list of a number of such and what it costs to borrow from them. If you visit our micro loan comparison page of USD 2,000, you will find a more detailed comparison.