Lite Lender Company can provide you with quick installment loans without having to go to a bank. We are specialized in private equity loans through private lenders, who work in parallel and independently from any bank.
Our quick installment loans are compatible with a bank loan that you already have in place, although they are much more common for those clients who precisely cannot go to bank loans.
Quick Installment Loans from Lite Lender Company
Our fast installment loans are processed on average in 5 business days. Below we will list the different steps we take from the moment we receive the request until we deliver the money to the applicant.
- The applicant contacts us through our website and we respond within no more than 24 hours
- We verify that the applicant meets the two mandatory conditions to access our loans (see next section of this article for more information)
- We may request more documentation in order to obtain a more reliable financial and economic profile of the applicant.
- In a maximum of 72 hours since we received the required documentation, we have carried out the feasibility study to access our quick installment loans
- Then we send all the documentation to the notary of the city of Spain that the applicant chooses
- Once the term established by the Mortgage Law has expired (10 days from when the notary receives the documentation or 14 days in the case of loans signed in Catalonia) we deposit the money in the applicant’s current account
Requirements to access our fast installment loans
All our applicants must meet the following requirements without exception
1- Guarantee the loan with a property
The applicant must have a property in property that guarantees the loan that he wants to request. Our private lenders want to see that the money they lend is guaranteed in some way, and guaranteeing that money through real estate is the easiest and fastest way.
At Lite Lender Company we request a simple note from the Property Registry where all the details of the property appear including the owner and the economic and tax charges on it. It can be any type of real estate property.
Lite Lender Company will carry out an appraisal through an independent company to determine the maximum value that the quick installment loan can have: approximately 30% of the determined value.
2- Request a minimum of $ 20,000
This minimum amount allows us 2 things:
- That you, as an applicant, do not have to advance money for all the procedures, administrative expenses and fees of independent professionals during the study and opening phases of our fast installment loans
- Maintain the interest rate in a more competitive range compared to other competing companies (by increasing the minimum amount of our quick installment loans we can keep their interest rate between 9% and 12%)
Total flexibility for repaying loans
Lite Lender Company is totally flexible in terms of loan repayment conditions.
Our objective is never to execute the guarantee and keep the property (unlike other companies that have no qualms about doing so) but rather that the money has been satisfactorily returned and the transaction closed positively for both parties.
So as an applicant, you can:
- Choose the duration of your loan, from 1 to 10 years
- Choose the type of fee, with monthly, quarterly or semi-annual payments
- Choose the repayment under which your quick installment loan will work:
- French amortization is the most common with linear dimensions, the same is throughout the life of the loan
- American amortization is useful for certain clients, and consists of reduced installments where only interest is paid plus a single final payment to return the principal.
- One of our financial advisers from our Lite Lender Company team will be at your disposal 24 hours a day for the duration of your quick installment loan to answer any questions you have.