Would you like a loan?

If you go to the market outside the banking system, Financialor is a financial credit establishment that offers personal loans as well as in the form of mortgages in an efficient, simple and reliable way.

Founded in 1968, it has more than 23 branches throughout Spain and can offer a quality service in the signature and credit management. Its objective has always been the same, to provide financial services that serve to cover the needs of the clients as effectively as possible.

Hence, it offers both personal loans without collateral and on collateral. For all this below we will explain what Financialor SA is the characteristics and conditions of its credits, requirements and much more. If you have in mind to request financing in this company before you should read the article.

What is Financialor

What is Financialor


It is an EFC that has been operating for more than 40 years, having had more than 60,000 customers throughout its history. It is not a bank but it does not offer the so-called private capital loans being an intermediate option.

What does this mean? Well, it admits financial situations that banks and banks would reject as a general rule although when they do, the conditions are worse than the banking ones.

In fact, in spite of not being private capital, the conditions with which it lends are practically the same to private finance companies. This is not bad, everything is said as it is usual.

Accepting financial credit institutions, borrowing or even small income is only viable in this type of lender entities. Although they are not financial establishments as we have pointed out, it is similar to private capital.

Advantages of applying for a loan at Financialor

Advantages of applying for a loan at Financialor


Then we will show you some of the benefits obtained by the clients of the entity in the signing of fast loans.

  • It is a quick loan because in a period between 48 and 72 hours you can have an answer about the viability of the operation.
  • Personal deal with the client either by phone, online or even in the office.
  • The credits they make are personalized, that is, they adapt the loan to what you need.
  • Maximum confidentiality throughout the process.

Approximately 80% of the people who go to Financialor do so because they have been rejected at their bank. The good thing about the company is that factors that banks reject here are not valued in the same way. It is the closest thing to private loans but without really being these, because the borrower is not an investor as such but a financial establishment of credit. Although their similarities have their differences.

Types of credits

Types of credits


As a company dedicated to the granting of several loans are the loans that offer being the following.

Personal loans

You can request a personal credit of up to 6000 euros without the need to provide guarantees. The process usually lasts an average of about 48 hours, with many existing requirements. Many times it is not enough that only sign the one who asks for the money, being necessary the contribution of guarantors. Mention also that if you have less than € 1500 per month unless you sign another guarantor with income is difficult to get approved. The good thing about this financing is that the interest rates are on the average being cheaper than the online loans seen on the internet.

Mortgage loans

Through these mortgages you can get fast money by providing a property as collateral. However, it is necessary that the property that contributions be free of charges and have sufficient value. Also note that having a property without charges does not guarantee you obtain the credit.

It is important to demonstrate the ability to return, especially because you have demonstrable income or you plan to sell a property, an inheritance… The processing can last an average of 2 weeks quietly. Approximately three times as slow as in loans without endorsement. In practice, only properties in cities or towns with more than 10,000 inhabitants are accepted. So if your property is in a town with fewer inhabitants or in an area of ​​little interest to the financial would not be valid.

How to ask for credit

How to ask for credit


If you want to apply for any of the loans Financialor you can make the request in several ways, being what we are going to show next.

  • Online application:

From the web of the financial (here) you can also request the credit being the only thing necessary to fill out a small contact form.

  • Calling by phone:

To request a loan by calling one of the available telephone numbers according to the branch is also possible. For example, if you are in the city of Madrid, you will call the Branch Office in Madrid.

Branches and Finance Offices

You can do the process physically going to any of the offices of the entity in Spain. As we have indicated, it has 23 offices located in different autonomous communities, which can be processed in person. Here you have both the address, customer service hours, telephone numbers and emails of each of them. First we show the name of the office followed by the address, zip code and then put your phone number, fax and mail.

Requirements to apply for the credit

Requirements to apply for the credit


By offering a personal loan and also a mortgage loan the requirements of each option will be different.

In personal loans the requirements are usually the following :

  • Not be in arrears records.
  • Have regular, regular and stable income.
  • Have seniority in income.
  • That the income exceeds € 1500 if possible.
  • Have a good credit history.

That is, more or less ask for the same as any traditional financial.

If you ask for a mortgage, the requirements will be as follows :

  • Have a property free of charge or practically free (If you have any debt you will have to be canceled with the financing)
  • It is necessary to justify demonstrable income of some kind.
  • You have to demonstrate the ability to return.

As for the financial credit institutions, the Financialor personal loan can be denied because it is included in a file, but not the mortgage loan.

Loan repayment

Loan repayment


Return the credit in the entity is done through the reimbursement of monthly installments. The credits offered here, however, can also be adapted to expiration in case the client so requires. But nevertheless it is that the clients make the return by means of the payment of comfortable monthly installments through which they amortize and pay interest.

Therefore, you must comply with the established payment commitments if you do not want the debt to end unpaid. Also say that if you have a problem with the payment you can always contact the customer service department to find a solution.

Advance payments

Financialor allows the early repayment of the loan although for this reason it usually applies a commission for compensation that is usually between 0.5% and 0.25% after about 6 months since the signing.

Therefore if you can it is better to amortize before date.


Briefly we can say that if arrival the payment date can not deal with the credit is important to contact the entity.

The non-payment of one of your loans brings a series of negative consequences showing some of them immediately:

  • Inclusion in patrimonial solvency lists.
  • Claim of the debt by judicial means.
  • Loss of the guarantee provided as guarantee.

For this reason our recommendation is that you only sign those credits that you know you can afford, unfortunately this is not always the case. If you have any suspicion that you will not be able to make the return in a timely manner, it is best not to sign it. It is useless to solve a problem in the short term to generate another in the medium term almost certainly.

3 signs that you can set up a business – we assume a company

The company – for many people a sign of total financial independence. A dream that they set as one of many goals to achieve. How is it really? This unfortunately happens differently. Statistics can be inexorable. According to them, eight out of ten companies in the first year of falling down with a great bang. How do you know that the idea for a company will prove to be a success ticket?

We set up a company – Three basic principles

We set up a company - Three basic principles

1. You have examined the market

There is a myth in the business world that the more innovative the business idea, the better. Here, unfortunately, many, even the most passionate entrepreneurs, very quickly had to come to terms with failure. Big companies with very large capital, do not release services or products to the market, before they spot whether customers will be interested in their offer. Why then would such a step be successful for young and inexperienced entrepreneurs? Of course, some of them have a lot of luck. But if you put everything on one card, are you ready to take such a risk? Check whether your product or service is sure to find interest. Reach out to your potential customers, by the way precisely defining which persons will be included in the target group. In this way you have a really good chance of success in your business.

2. You saved the savings

Throwing a warm job day by day is rather the domain of people who appreciate elevated levels of adrenaline. However, if instead of many sleepless nights, you prefer a feeling of peace that your company will definitely succeed. And for sure that you will give yourself the right amount of time to slow down the business, it’s worth postponing the right amount of savings.
Some specialists are alarming that the more uncertain your business is, the more money you should have to put aside for a rainy day – an average of 6-12 months of peaceful living without any income.

3. A good plan is essential

Do not think that business is a way to lay a piece on a tropical beach and wait for the money to fall from the sky. It is not so. It is also not that you can get up and say that you do not want to work, because you are the boss yourself. I mean you can do it, nobody can stop you. However, answer yourself if your approach is successful in this approach? The company must be kept on the head. You need to have a specific plan for it, and enter the steps with appropriate consistency. If you count on the fact that you will develop your company within 24 hours and later you will not be doing anything, then you are rather wrong. Unless at that time you can really create something brilliant on a global scale. It is worth to go down to the ground and look at your business in more real colors.

Pay-off loan

A variant of the construction financing is the deduction loan. In this case, the customer pays the bank an unchanged repayment installment and the interest due every month. The fact that the residual debt is reduced by the repayment installment also reduces interest payments. Also, the monthly pay installments are getting smaller and smaller. Those who use a repayment loan pay high installments at the beginning of their term , but can be certain that the monthly burden will continue to fall. Example: With a loan of 20,000 and a term of 5 years, an interest rate of 10 percent is agreed. The customer now has to pay a repayment installment of 4,000 and 2,000 euros interest in the first year. In the fifth year, however, in addition to the repayment of 4,000 euros only 400 euros interest due. Thus, the customer has a lower burden of about 1,600 euros last year.

In most cases, comparisons to the annuity loan for the repayment loans are agreed to shorter terms.

In most cases, comparisons to the annuity loan for the repayment loans are agreed to shorter terms.

Although repayment loans are offered for mortgage lending, this means for property conversions and additions, but rarely for real estate financing. Often, banks also offer these as consumer loans. Whether a repayment loan is cheaper than an annuity loan can usually be determined only by a credit calculation. For example, with a fixed maturity and an identical interest rate, a repayment loan may be cheaper than the annuity loan. With a loan amount of 12,000 euros, a term of 6 years and 8 percent interest savings around 214.71 euros. If a higher loan amount is taken, the difference between the two loans will be higher, so that a repayment loan often remains the cheaper loan. However, it must be assumed that the bank does not offer the same terms for both loans. In general, the fees for the installment loan are much higher than for the annuity loan, so the interest rates are higher. However, the choice of the loan does not only depend on the loan amount, because personal circumstances and financial conditions also play an important role. Not everyone is able to afford a high repayment installment plus interest at the beginning of the contract term, which effectively forces them to resort to the annuity loan. Especially when it comes to mortgage lending, every builder wants to be liquid in order to be able to pay off even unforeseen costs. Find out more at bankenonline.org.

Call-off Loan – Alternative to the Dispo?

Most people experience in their lives that they spend more than they own. In such cases, loans are available . So far, especially the disposition loan was suitable for smaller sums. Cheaper than this, however, is a so-called call-off loan. This will be presented below and its terms explained.

The advantages of the release loan over a disposition loan

The advantages of the release loan over a disposition loan

If bank customers need money at short notice, then they have often accessed their discretionary loan. This is characterized by the possibility of overdrawing a current account, which is previously determined by contract. It depends on the income and the balance on the account. This tolerated overdraft on the one hand practical, on the other hand, it is also associated with high costs. Because the account holder usually pays for the overdraft interest rates, which are in the double-digit range. Especially with small amounts, an overdraft for the owner is therefore annoying. For the account holder, therefore, a call-off loan is worthwhile instead of the disposition loan. The call loan is offered by more and more banks. Above all, the call-off loan is characterized by the fact that it requires no bureaucracy. The repayment is flexible. This gives the account holder maximum freedom in the repayment of the amount. The interest rates for the call loan are often only half as high as those for the discretionary loan. This makes it worthwhile for the account holder to use it for smaller contributions.

Maximum flexibility in call-off loan

To be able to use a call-off loan, the customer initially turns to the bank of his trust. This then grants him a loan line within which he can access the desired amount. He can sometimes be smaller or larger, but should move within the line of loan. The call loan alone earns the required amount. Thus, there is no risk that the account holder will borrow too much, whose eradication could cause him difficulties. In addition, the closing fee of the call-off loan only relates to the amount actually required.
What makes the call-off loan attractive to account holders in addition to the low interest rate is the flexibility of the repayment. In contrast to traditional loans, where installment payments are usually made at precisely defined intervals, which are urgently required, the account holder can determine the amount of the repayment himself. Only a very small percentage of 1-2% of the loan amount must be paid off at least once a month. However, it is not a problem to initiate immediate repayment if the account holder is currently liquid. In this way, the call loan offers a flexibility that is otherwise not found with loans. This is also confirmed by numerous tests, the results of which can be found on the internet.

What rate for a loan consolidation today?

The purchase of loan (or pool of loans) allows you to simplify the management of your budget by operating a pool of loans . You get a single loan that is easier to repay.

Consolidation of loan (or pool of loans): a fixed and single rate

The rate obtained for the consolidation of loan (or regrouping of loans) is fixed and unique. You combine loans with disparate rates into one loan. So you get a single loan with a single rate and a single monthly payment . The purchase of loan makes the management of your budget easier and without surprises.

The consolidation of loan (or regrouping of loans) allows you in certain cases to obtain a lower rate . You can get a better rate for old mortgages contracted when the rates were higher. You can include auto loans, consumer loans or revolving loans, which generally have higher rates.

How to get the best loan consolidation rate (or pool of loans)?

The rate of loan consolidation (or pooling of loans) depends on your goals. You have two strategies:

  • Reduce your monthly payments to reduce your debt ratio and gain flexibility in your budget. With this option, the total cost of loan and the repayment term will be greater.
  • Limit the duration of borrowing to repay your loans faster with high monthly payments. With this option, the total cost of loan is controlled.

The loan surrender rate (or pooling of loans) will depend on the chosen option . The decrease in the amount of the monthly payments leads to the lengthening of the repayment period and increases the total cost of the loan. The reduction in the rate depends on the remaining term of the loans bought back.

Make a loan consolidation simulation

Make a loan consolidation simulation

Beyond the gross number, the best loan consolidation rate (or pool of loans) is the one that will allow you to assume your loans with confidence , with monthly payments tailored to your monthly budget and a reasonable overall cost.

Conduct a free and uncommitted loan consolidation (or pooling) study via our online simulator. Our advisors will then offer you a loan with a rate and monthly payments adapted to your projects.