1000 USD instant loan: requirements
The essential requirements for obtaining an immediate loan of 1000 USD are not many, but today, more than ever, they are indispensable to have access to even small loans. This is because, in recent years due to the economic crisis, banks’ bad loans have grown exponentially.
To better understand, look at the graph below, I think it gives a very good idea of the historical moment we are going through.But let’s get to the point: what are the minimum requirements for immediate access to a loan of 1000 USD?
Be good payers
1. Well in the first place it is essential not to be reported as bad payers in the various databases of SIC (Credit Information Systems), this is a necessary requirement that unites all types of loans, both personal and finalized.
Have a demonstrable income
2. Prove that you have an income : it is not essential to have a paycheck, but certainly documentation is required to prove that you have the economic means to pay the loan installments. Here are some examples of income that banks accept:
- Rental income
- Self-employment income
- Seasonal work income
More generally it can be said that some banks and financial institutions also evaluate other types of income on a case-by-case basis, of course it is always necessary to produce documentation that proves it.
In some cases, filing bank statements where constant revenue is found can be a good way to demonstrate income. In these cases, when the amount of the loan requested is between 1,000 and 3,000 USD, it may be that the file is accepted and approved quickly. Of course, having a good credit rating remains mandatory.
1000 USD instant loan: who pays them?
Before going further to explore the topic, I think it is right to make a premise: when we talk about immediate loans, we generally refer to loans aimed at the purchase of goods or services. The rapidity of the loan disbursement, in these cases is made possible because the seller has agreements with entities such as Astro Finance, Compass, Bankate, which manage small loans electronically.
As for personal loans – the loan required to obtain liquidity – the times are necessarily longer. This is especially true if the loan application is not submitted directly online.
Loan 1000 USD Astro Finance
As you can see from the image, Astro Finance provides loans of 1000 USD! In this case – given that it is a small loan – the only option offered is the 18-month repayment. The fixed TAN is 9.44% while the APR is 9.86%.
Astro Finance is very quick in evaluating funding applications. So if you need an answer within 24 hours, this bank could be one to keep in mind.
For more information, read also: Astro Finance personal loans
Loan 1000 USD Bankate
Bankate, like Astro Finance, also makes small loans. In this case it also has slightly lower interests: the TAN is at 5.91 while the APR is at 6.08%. As for the repayment, Bankate reaches up to 24 installments or two years.
To read: how to have a fast Bankate loan
Loans possible if you are a bad payer
Without so many words, if by immediate loan we mean having the money within 24 hours from the application, there are two ways to go – especially if we have been reported as bad payers – namely: the loan with pawn and the loan changed.
Loan with pledge
The lien loan is obtained quite easily as it acts as collateral. In practice, it works like this: at the end of the contract, if you do not return the money you received plus interest and charges, the bank will auction the gold, precious stones or the coins left as a pledge. In that case, the debtor is free from any obligation towards the credit institution which will be repaid once the precious items are sold at auction.
Be careful though, this type of loan is yes fast but to obtain it, the pledge must have a value significantly higher than the money requested since – if not redeemed – it will be auctioned and much of its real value will be lost.
Loans exchanged between individuals can also be immediate, especially when the amount requested is only 1,000 USD. A friend or relative is the ideal lender for this type of transaction! This is because the lender knows the applicant and therefore can quickly decide as he already knows if the person is trustworthy.
Remember that: a promissory note is an executive title that allows – if it is not paid – to seize the assets of the person who signed it, so be careful!
Loan without paycheck
The loan of $ 1,000 Instant is available right away without even a paycheck. In fact, for lenders, what really matters (as well as being good payers ), and that you have a demonstrable income. Therefore, if the monthly income is high enough to meet and the monthly installments, the small loan is granted quickly.
Of course, the income claimed to have been documented. For this purpose, when submitting a loan application, the single model plus bank account statements must be presented to the bank. This is needed in order to verify the declared revenue is really there. So it’s better to be honest from the start.
But what income is needed to access a thousand USD loan? Let’s try to clarify also on this point.
The most commonly used general rule is that of the fifth. Let’s take an example: suppose we have an income of 700 USD net per month and let’s calculate a possible sustainable installment. The calculation to do is as follows: 700 $ / 5 = 140 which is therefore the maximum sustainable installment. Simple isn’t it?