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Bank notes

At least six out of ten Spaniards have asked for it at some point in their life and, given the economic uncertainty, its consolidation is a fact. Whether they are for the purchase of a car, the start of a housing reform or the payment of a trip, personal loans are one more resource for the contemporary citizen. And, with ranges that reach €35,000 and durations of up to 96 months, Sofinco is adapting to this reality.

Loans are consolidated

With an economy still fragile and fickle, and a population that continues to fight inflation without improving wages, the use of borrowing has already become a custom for many Spaniards. Whether it is to protect oneself from an unforeseen event or to achieve a dream or a goal, this option today has a many offers and advantages. Designed to meet all the needs of each candidate.

Applying for a loan today is as common as it is simple. In financial institutions like Sofinco, personal loans even have a online end-to-end process. Under the name of Loan for the banka new service which, in addition to allowing you to easily apply for a loan online and without any supporting documents, informs the act of the approval of the request. A simplification of the offer for a growing demand.

Who needs a loan and why?

According to a report made by one of the entities that offers this type of service, 59% of Spaniards have applied for a personal loan at any given time, with an amount exceeding €10,000 in 40% of these cases. Above all, employed and married people with children. Even if the average ages are between adults aged 45 to 54 and young people aged 25 to 34, with little distinction between men and women.

With regard to the reasons for applying for a loan, the financing of the purchase of a carpay for some reforms or one journey on vacation are among the most common. However, the loans can be applied for almost anything. Reason why the coaching and studies, treatments of health as well as the cover unexpected are also common. But a little less than the first.

Loans that roll

Buying a new vehicle is never cheap. Indeed, according to the Tax Agency, in Spain the the average price of a car was almost €24,000 in 2022. This figure represents a 37% increase compared to 2017, when it was just over €17,000. And if the second-hand market is more attractive, reparations are not more charitable. Because the price of labor in a store often stings rather than relieves.

This is why Sofinco has a very versatile credit cover, with credits of €500 to €200,000 for vehicles. In ascending order, both for motorcycles and for cars and even for motorhomes. Always adjusting the loan to the needs of each client, developing a financing plan that includes repayment term up to 8 years. Payment coverage for up to 24 months in the event of unemployment.

Up to 96 months for a renovated house

During the pandemic, the reforms were born following a return of the population to housing that had been in need of renovation for a long time. but with some reforms whose price varies between €31,000 and €44,500According to CronoShare, many imagined projects have barely materialized their sketches on paper. And, at the lowest —Specific and partial reforms from €600 to €12,000—, the domestic economy is not spreading enough either.

Aware of this sometimes unaffordable amount, some reform loans like that of Sofinco present interesting options. Accept a period of financing from 3 to 96 months according to the amount scales, which range from €200 to €35,000, within a range that allows reforms that are both ad hoc and partial and comprehensive. In the event that the characteristics of the accommodation allow it for the latter case.

Return to prepare the luggage

Traveling is an activity that never goes out of style. However, the pandemic has frustrated and postponed several trips around the globe. In Spain, according to data from Statisticalthe impact resulted in a 72% reduction in the number of tourists between 2019 and 2020. And, today, the geopolitical tension and the environmental situation flights have become more expensive. Now at prices that are sometimes only possible with the pressure of a loan.

Whether traveling alone, with family or friends, options like those available to Sofinco come in the form of loans up to €35,000 repayable in 8 years. Again, limiting the duration to the amount requested, which starts at €200. Very interesting quantities, since encompass both a big trip and a short getaway a weekend or a few days. A change of scenery to oxygenate and renew.

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