Here we go through what applies to those who want to borrow USD 1,000. You can then, for example, find links and a simple price comparison to a number of lenders who offer this kind of loan to their customers.
The first thing to realize when it comes to loans of USD 1,000 is that it is almost always the question of a micro loan. And then we talk about micro-loans in the sense that these are loans that can only be taken up to a low amount and which must then be repaid quickly. The normal term of a micro loan is 30 days for the larger micro loans, there may be opportunities for maturities up to 90 days, but this does not apply to a loan of USD 1,000, but here you should coldly expect to repay the loan after 30 days.
Cost of a micro loan
The regular price of micro-loans is usually quite high and for those who want to borrow USD 1,000, the cost is usually between USD 150 – 300. This is a high price to pay in order to borrow this smaller sum for 30 days which makes it important to first think carefully about whether it is the right decision or not to borrow any money.
Then there is sometimes a way to borrow money for a smaller amount and that is if you are a new customer with a lender. It is not uncommon for them to have discounts for new customers. It may even be that you are borrowing completely free of charge for the first time with that particular lender. Here at the site, we have the habit of presenting costs from different lenders, provided that you are a new customer so it is easy to see if you get a lower price or not.
Borrowing cheaper as a new customer is obviously good, but the important thing is to watch out for the cost of the next loan if one is acquired. The lenders’ idea with the discount is to get new customers who then become loyal to them. However, there is nothing that says you have to borrow from the same lender again so if you are thinking about borrowing money again you should compare the prices between all the lending institutions on the market.
To apply for a micro loan
It is very easy for you who want to borrow 1000 USD to do this through a micro loan. You have two main ways to apply and that is to either send an SMS to the lender or to use their application form which is available on the website. Whichever way you use it, the process is simple.
However, one advantage should be mentioned for applications via the web and that is that you can then apply for a loan from all lenders. This compares with applications via SMS that a large number of borrowers accept but far from everyone. The risk of applying for a loan via SMS is therefore that you have to pay an unnecessarily high cost.
Find lenders that lend USD 1,000.
If you look a little further down this page you can find a list of a number of lenders that lend USD 1,000. You will also find there what it costs to borrow from them. Furthermore, we have a section for comparisons here on the site that you can use. There, for example, find a more detailed comparison of loans of USD 1,000.