Obtaining a microloans in an MFI

One of the most relevant financial products today are microloans in MFIs. They can be received literally in 2-3 hours after the application. Often, such small loans are taken before payday to get the opportunity to "patch" their financial problems. For this reason, microloans are called urgent, fast or instant.

All MFIs
Microloans in MFIs

What is an MFI

Special microfinance or microcredit organizations are engaged in the issuance of microloans. MFIs and MCC carry out their activities in accordance with the current NPA. They operate on the basis of a license received from the Central Bank of the Russian Federation. Only the company that has the specified license can engage in microcrediting. If the MFI begins to work outside the legal field, and certain violations are found in its activities, then its license is canceled. Before applying to a microfinance organization, you should check whether it has a license for lending.

Features of microloans

Microcredit is a special form of lending in which a borrower can borrow a small amount of money. Money is provided within a few hours after leaving the application. At the same time, neither proof of income, nor a good credit history, nor guarantors, nor collateral is required from the creditee. Even former bankrupts can apply for a microloans in an MFI. However, by law, they are obliged to report information that they were found financially insolvent some time ago. You cannot hide this information.

Advantages of quick loans

Instant microloans in MFIs have many advantages, which include:
  • speed of issuance;
  • the possibility of registration in online mode;
  • provision of a small package of documents (often only a passport and SNILS are required to receive money from customers).

Microfinance organizations rarely set any restrictions for borrowers. They are interested in getting new customers. However, the provision of a loan in MFIs can be refused to minors (since all financial issues are still decided by parents for them) and the elderly (each microfinance company has the right to independently indicate the permissible age limit).

Features of choosing an MFI for obtaining a microloin

Today, almost all microcredit companies offer borrowers to issue a microloan online. Remote microfinance allows you to get money in 20-30 minutes after leaving an application for a loan. At the same time, a person does not need to spend time and money on collecting a documentation package and visiting the office of the MFI. Online microcredit can be obtained at any time of the day, without leaving home.

How to choose an MFI
How to choose an MFI

How to choose an MFI in the Russian Federation: aggregator sites

Since the market of remote microcredit is quite extensive, borrowers face certain difficulties in obtaining these funds. Because of this variety, it is very difficult to choose the right option. Initially, you need to allocate for yourself a number of the most profitable offers. This can help specialized aggregator sites.

On such resources, you can filter loans by a number of important conditions, as well as get acquainted with the rating of loans with the possibility of online applications. Before filling out the questionnaire for receiving money, you need to go to the main website of the MFI, analyze its activities and determine whether it is safe in order to really take a small loan here.

What you need to pay attention to when choosing an MFI

There are a number of important factors that you need to pay attention to when applying for microloans and choosing a microcredit company.

To begin with, you need to look at whether the MFI has a license for lending. This information can be found in the "Documents" section of the company's website. It is there that there are scans of permits of the ICC, and information about its registration in the register of the Central Bank. Also, the borrower can independently check the license of the MFI on the official website of the Central Bank.

In addition to the availability of a license, it is necessary to clarify the terms of lending. A lot of attention should be paid to the size of the percentages. After all, the total amount of overpayments will depend on them. And it should be remembered that the tariffs do not indicate the annual or monthly, namely the daily interest rate. Otherwise, the client will think that he owes the microfinance organization much less, and will not be able to fully respond to his loan obligations.

Features of registration of a loan in a microfinance organization

When applying to a microfinance organization, you need to first check whether it has a license, and then apply for money in debt.

By law, only licensed microcredit companies have the right to issue loans in Russia.
loan processing
Loan processing

General credit conditions

The main conditions of microcredit,which should be paid attention to when applying for a loan, are the timing of the provision of funds, interest and the exact amount of the loan. MFI tariffs usually indicate the daily interest rate. In some cases, customers manage to get a loan at 0 percent. Such offers from microfinance firms come to new clients who apply to the ICC for the first time.

Requirements for borrowers

Each microfinance organization has certain (individual) requirements for customers. The exact list of requirements depends on what kind of policy a particular microcredit firm adheres to.

However, in most cases, microloans in MFIs are not issued to minors, pensioners over 65 years old and those who do not have Russian citizenship.

In all other cases, customers have the opportunity to get borrowed money.

Ways to receive funds

The method of obtaining money for microcrediting depends on the characteristics of the application. When applying to an MFI online, the loan amount is credited to a personal bank card, account or verified electronic wallet.

If (for one reason or another) these methods are not suitable, you can get borrowed funds through special money transfer systems. The most popular systems of this kind are Contact and Golden Crown. They take relatively small interest and guarantee a quick transfer of money.

Available repayment options

A microfinance organization must provide several options for repaying the loan so that the debtor can choose the most convenient way to deposit funds.

It is most profitable to transfer money immediately in the office of a microcredit company. In this case, no commission is charged. After repayment of the loan, the client should take a document from the manager of the company confirming the absence of obligations to this organization.


Registers of microfinance market entities | Bank of Russia
List of microfinance organizations of entrepreneurial financing. As of 9/12/2021. Microfinance.

Federal Law "On Microfinance Activities and …
Federal Law "On Microfinance Activities and Microfinance Organizations"dated 02.07.2010 N 151-FZ (last edition). July 2, 2010 N 151-FZ …

microfinance organizations(MFIs)are divided into IFCs and MFCs. On November 3, 2016, the Bank of Russia included the first microfinance institution (MFI) in the state register of microfinance organizations(MFIs)