The number of requests for quick loans online , as well as the companies in the financial sector that provide these aids, have increased exponentially over the last decade; the reason, Internet. The factors that influence are exactly identical to the known advantages of this service, such as the speed and simplicity of the process. In addition, the conditions necessary to obtain an online loan are much lower than those of a traditional bank. The comfort of thinking and executing it from anywhere is the icing on the cake to consolidate this new way of looking at the financial business.
Currently, companies continue to appear in the sector and those that already have experience, continue to grow due to the constant demand for fast loans , which, although they vary slightly from each other depending on the entity that transfers the loan, have some fairly consensual and attractive characteristics facing the applicant.
– First, they are loans whose amounts range between 300 and 1000 euros on average, which is why the reduction of the established conditions is understood, as well as the expansion of the sector of the company to which these loan entities are directed.
– The requirement regarding the requirements, as we saw, is lower. Many entities do not ask for payroll or endorsement , only an income that can be demonstrated.
– The lenders usually offer something that ensures the trust of the customers. Among numerous examples we find the cancellation of interests and commissions in the first loan, raffle of electronic devices among the new clients, effective income in 15 minutes, etc.
– The quantity offered to the new customer is usually smaller, due to a simple logic: security. These companies will give you the totality that the case in question allows from the second loan, in case it occurs.
Demographic profile of the user of online loans
Another example of the success of this sector is the continuous development of studies on the profile of the user requesting loans online . The different samples chosen reveal some similarities, broken down and analyzed here, to later extract from them some conclusions that allow focusing this service well and discover the reason for this trend.
– Sex Most studies conclude that men demand the most loans, with a small difference compared to women, although each time it is lower (37-43%).
– Age We stand approximately at the end of the generation ‘ X ‘ (1966-1980) and the beginning of its later generation ‘ Millenial ‘ (1980-1997). That is, it is concluded that the current age of the user of online loans is between 30 and 40 years . The range is wide but begins to draw an idea about the profile analyzed.
– Work . Studies show that the majority of applicants have a stable job (between 60-70%) . In addition, we must add another 10% of self-employed who seek this way to subsidize on a small scale. The rest of the people who ask for a loan are unemployed with subsidies, beneficiaries of other aids, pensioners and students.
– Salary . The average amount that this profile enters exceeds € 1000 , and according to some studies, even € 1500.
– Amount . The sum of the requested loan is usually low compared to banks, around 300-500 € , although it is possible to request more, always depending on the specific situation.
– Place . The Spanish city where most loans are requested is Madrid , followed by Barcelona. Sevilla, Valencia and Zaragoza, who are also in the lead.
– Children . In both women and men, the average profile does not have children , with a majority in men. Although then as to the most common, both sexes are matched with a single child.
Conclusions of sociodemographic studies
Due to the overwhelming equality observed between the studies, carried out by Cashper, Credy, MonedoNow and CréditoMóvil , and the coherence with which they are assimilated when placing them in our society, we can now draw some defining conclusions about the role of these loan institutions in the environment.
According to reports from the EPA – Active Population Survey -, the main profile affected by the crisis is a woman, young and unemployed. However, this profile is far from the user defined socio-demographic analysis. The range is so wide that the situation of economic relief does not predominate, but, on the other hand, there are many people of different situation who see these small benefits convenient to face expenses (we see something similar with loan cards).
Closely related to the financial crisis is the fact that the first online fast loan companies appeared in 2007 , that is, before the first throes of the global recession, so we also ruled out that their presence was due to an extraordinary need on the part of the population.
The sample of the average age of the sociodemographic profile reveals, from now on, a latent reality: the spectrum will be expanded in such a way that the generations that today use this resource will continue to do so, while other generations will be incorporated, making the average even greater and denoting that defining these types of profiles will be more complex. This symbolizes that it is a business that covers any sector or social class, which is used as an economic tool that is complemented by others.
It is clarified that the utility of these amounts is to face surcharges or support the economy at specific moments, not to make large investments. Therefore, when offering non-exaggerated amounts, the interests that are requested are therefore lower and the reluctance to request them is lower. This factor is key in that the profitability that the client sees is the reliability and speed with which he will have the money.
Finally, this type of socio-demographic profile analysis reveals part of the reality of what ends up becoming the final object of study: Spanish society. Valuing these results can be understood in part, not only how part of the financial system is articulated in this country, but how it evolves and offers a service more adapted to the new social demands.