Microfinance organizations (MFOs) provide financial services to low-income segments of the population. In Europe, MFIs play an important role in the economy by helping people gain access to the credit they may need to solve various life problems.
TOP 10 best MFIs in Europe
Based on various criteria, including company size, volume of loans issued, interest rates, customer reviews and others, we have compiled a rating of the best MFOs in Europe. It included the following companies:
Avant (Germany)
Avant is a German MFO that was founded in 2007. The company provides microloans in amounts from 100 to 50,000 euros for up to 60 months. Interest rates on Avant loans range from 12% to 36% per annum. The company has a good reputation and high ratings from clients.
Cash Express (France)
Cash Express is a French microfinance organization that was founded in 1984. The company specializes in providing microloans in amounts from 100 to 30,000 euros for up to 36 months. Interest rates on Cash Express loans range from 15% to 40% per annum. The company has a wide network of branches throughout France.
Younited Credit (France)
Younited Credit is a French MFO that was founded in 2010. The company provides microloans in amounts from 1,000 to 50,000 euros for up to 60 months. Interest rates on Younited Credit loans range from 12% to 36% per annum. The company uses innovative technologies to assess credit risks and provide loans.
Cofidis (France)
Cofidis is a French MFO that was founded in 1982. The company provides a wide range of financial services, including microloans, consumer loans, car loans, etc. Interest rates on Cofidis loans range from 15% to 40% per annum. The company has a wide network of branches throughout France.
Credissimo (Lithuania)
Credissimo is a Lithuanian microfinance organization that was founded in 2007. The company provides microloans in amounts from 100 to 30,000 euros for up to 36 months. Interest rates on Credissimo loans range from 12% to 36% per annum. The company has a wide network of branches throughout Lithuania.
MoneyMan (Russia)
MoneyMan is a Russian MFO that was founded in 2012. The company provides microloans in amounts from 1,000 to 30,000 rubles for a period of up to 30 days. Interest rates on MoneyMan loans range from 15% to 40% per annum. The company has a wide network of branches throughout Russia.
Oney (France)
Oney is a French MFO that was founded in 1983. The company is a subsidiary of the banking group BNP Paribas. Oney provides a wide range of financial services, including microloans, consumer loans, car loans, etc. Interest rates on Oney loans range from 12% to 36% per annum. The company has a wide network of branches throughout France.
Crédit Agricole (France)
Crédit Agricole is a French banking group that was founded in 1882. Crédit Agricole provides a wide range of financial services, including microloans, consumer loans, car loans, etc. Interest rates on Crédit Agricole loans range from 12% to 36% per annum. Crédit Agricole has a wide network of branches throughout France.
Sofinco (France)
Sofinco is a French MFO that was founded in 1982. The company is a subsidiary of the banking group BNP Paribas. Sofinco provides a wide range of financial services, including microloans, consumer loans, car loans, etc. Interest rates on Sofinco loans range from 15% to 40% per annum. Sofin
Conclusion
Microfinance institutions (MFIs) play an important role in the European economy by providing access to financial services to low-income groups. The rating of the best MFOs in Europe presented in this article will help you choose the right MFO for your needs.
When choosing an MFO, it is important to consider the following factors:
- Interest rates. Interest rates on MFO loans can vary widely. Therefore, it is important to compare interest rates of different microfinance organizations before deciding where to get a loan.
- Loan conditions. Different microfinance organizations may have different lending conditions, such as loan term, loan amount, requirements for borrowers, etc. Therefore, it is important to carefully read the lending conditions of each microfinance organization before applying for a loan.
- Customer reviews. Customer reviews can give you an idea of how the MFI operates and what its strengths and weaknesses are.
Before taking out a loan from an MFO, it is important to carefully weigh the pros and cons. MFOs offer more affordable lending terms than traditional banks, but interest rates on MFO loans are usually higher.
Comments