What conditions do you have to meet as a Borrower?

“Instant cash for everyone!”, “Quick cash for proof!” – some of the non-bank loan companies tempt us with such marketing slogans. Although there are Lenders for whom it is enough to be an adult, living in the territory of the Republic of Poland, this does not mean that they do not verify the remaining points when the client submits the application. The smaller the payday amount, the less restrictive the creditworthiness verification process of the Applicant. Were you indebted but have a steady income? You can also count on a non-bank loan. What other conditions must the applicant for the payday loan meet?

First of all – an adult

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Age is a foundation that cannot be overlooked in financial transactions such as borrowing money. For most Lenders, you must be at least 18 years old, which is enough to be an adult, fully capable of legal transactions and deciding about yourself. Although there are companies such as Extra Tol or Jaii, where being 20 or 21 years old is required. In addition to the minimum age, Lenders also often specify the maximum age of the person applying for a loan. Usually it is 65-75 years old, although there are exceptions here. For companies such as Brett or Jenny Credit, more stable income than no age is more important than age.

Secondly – a Polish resident who has a bank account, mobile phone and e-mail address

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When submitting an application at any loan company, one of the fields to fill in is where you live and, contrary to appearances, this is important when you have a chance to pay for it. To receive a loan, you must be a Polish citizen and provide your current address, phone number and email account in the application. All this so that the person who borrows money can be identified in the absence of their repayment on time.

Lenders verify in detail each and every personal data shown in the loan application. And having the ID card to view, they compare whether the data from the document are the same as e.g. the details of the bank account owner, verifying it by transferring e.g. 1 penny to the indicated account number. Similarly, if you do not have an ID card, you will not get a loan without a bank account or phone number.

Third – steady income

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As we read in more detail in offers such as “pay for time”, yes, having an identity document, we have the chance to borrow cash, but also meeting other conditions.
If you have a stable monthly income and you are a pensioner aged 65+ or a person who has not paid their obligations in the past, you can still have a chance for a loan.

Fixed income is not only a contract of employment or a disability pension, but also income from civil law contracts (work contract, mandate contract) and from your own business. It is important that if necessary the loan company can be certified through a personal statement or certificate from the employer about earnings or through a bank statement from recent months.