How to get a consumer loan without proof of income? Georgia

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Calculation example: with a loan amount of USD 100,000 at 10% per annum, for a period of 1 year, the total amount to be repaid will be equal to: USD 105,499.06, with a monthly payment: USD 8791.59. The consequences of not paying the loan are regulated by the legislation of USA.

    Is it possible to get a loan without proof of income?

    Each lender independently determines the package of necessary documents that the borrower must provide. Income statement is one of the most common documents. Without it, almost no bank will approve a loan application. At the same time, income certificates in microfinance organizations are not required.

    This is due to the following factors:

    low risks MFIs lend money for a short period of time, and the amount does not exceed the average salary;

    narrow specialization unlike banks, MFIs can focus only on lending;

    less costly than banks – MFIs have fewer employees and usually have one office.

    All transfers are carried out remotely, physical cash points are not required.