Frequently asked questions about lines of credit
Frequently asked questions about lines of credit
Launch a business idea as a young entrepreneur, start expanding your business, complete the housing plan of your dreams ... A line of credit is a financial product that will help you carry out any project , personal or professional, that you have not been able to to date due to lack of savings or financing.
However, we are aware that a line of credit raises many questions, especially from those who are seriously considering the possibility of using this formula as financial support to fulfill their aspirations.
To respond to all of them, we have prepared a list with some of the most common FAQs to which we usually respond from CréditoSí .
Line of credit FAQ, clarifying concepts
How much money can I request, when should I return it, in what way ... These are questions that every future investor wants to resolve with transparency and clarity before launching the request for a line of credit. If that is your case, these are the answers you were looking for.
How much money can users requesting a line of credit enjoy?
In CréditoSí, any user can borrow up to 2,000 euros as long as they are already a customer of our financial institution. Otherwise, the maximum allowed for a first line of credit will be 1,200 euros, an amount that you will have in your possession in a matter of 15 minutes and without paperwork as long as you meet the access requirements as an applicant .
The minimum for any line of credit is 300 euros.
Since when will I be able to count on the requested money?
From the moment your line of credit is approved. This process usually does not take more than 15 minutes and it will be faster as you use our services honestly until it is practically automatic.
Upon approval, the money will be available to you 24 hours a day for 12 months.
If you amortize the capital, you will be able to ask again for the amount that you have been paying back, thus extending your line of credit to face unexpected expenses during those 12 months.
When can I pay off borrowed capital?
Enter your CréditoSí customer area and return part of the money you have requested, apart from the interest you will pay each month, through your debit card or by calling 301 259 6911, where we will be delighted to assist you.
To make things easier for you, CréditoSí gives you the option of returning the credit line by bank transfer or by making a deposit at the counter or at an ATM. If you want more information about these options, access our help section .