Nowadays people are given with so many choices about the facility the control their financial. So many financial institutes offer so many type of credit or loan including the bank or any other money lender. As we all know that bank is still on the top of the chart as the most reliable and organized institution in giving the loan for the society as well as the cooperative institution which all can be categorized as mainstream financial institution. The type of the credit provided by each institution is also different from one to another and which sometimes has its special requirement to apply it. Here we’re going to explore the type of credit based on the facilitator.
The first loans or credit is loans by payday lender. The payday loans offer small amount of money with short-term period basis. The second loan is the loan by microcredit workers. This type of loan offers low interest loan and small loan problem. This type of loan is specially designed for people who have low income so they can’t access the credit product by mainstream financial institution. The last loan is loan by mortgage broker. This type of loan occupies intermediary to negotiate the loan for the borrower.