The economic outlook of this 2018 is evident as encouraging, thanks to the fact that most analysts agree that the economy improves as inflation decreases. This is how microcredits become a long-term issue in the financial market.
The financial stability report presented by the Bank of the Republic at the end of 2017, reveals that the microcredit portfolio currently has an 83.1% concentration compared to 80.9% corresponding to housing credit, which places these two modalities as one of the main ones within the
So, loans in Colombia become an alternative for different user circumstances. It is common to apply for loans online for debts, last minute money requests and payroll overdrafts.
This backing of loans on the network reduces illegality in the market that years ago had high sums of interests that put the integrity of the user at risk. The modality also facilitates the approval processes thanks to the immediacy of the network and its user selection criteria.
Thus, the reality of loans in Bogotá, Cali and Medellín is aligned with the traditional financial system, generating cooperation networks that adapt to the behavior needs of the current Colombian debtor, differentiated from social and cultural variables such as the region of origin.
The loans in Bogotá are those that occupy the largest market share in men and women, in which according to figures from the report of trends and credit perspectives of the TransUnion Colombia firm, in mid-2017, the debt is estimated around 20, 2 million pesos, with a delinquency of 1.1% at 90 days.
At this point
Citizens who apply for loans in Bogotá do so primarily in order to pay debts from credit cards. At the consumer level, the capitalists are characterized by their requirement when choosing products, this niche is differentiated by using specialized services that meet their needs.
The loans in Medellín and the coffee axis meanwhile have an average consumer balance of 17.3 million pesos, with a default of 1.1% at 90 days. In that context, they are mostly used for unplanned expenses. They are a positive consumer with a high degree of confidence when making purchases, according to the Consumer Opinion Survey of November 2017, which states an increase of 8.8 compared to November of the previous year.
They are a positive consumer with a high degree of confidence when making purchases, according to the Consumer Opinion Survey of November 2017, which states an increase of 8.8 compared to November of the previous year.
Loans in Cali also maintain a delinquency of 1.1% at 90 days, highlighting the Caleño consumer as an open consumer and a quick purchase decision, which is why their loans are reflected in last-minute or unplanned purchases.
Loans in Colombia reflect the financial culture of Colombians. That is why Athos, a company specialized in microcredit, gives some recommendations to correctly take a loan and not turn it into a headache:
It is essential to make savings part of everyday life, it is recommended to use 20% of the income for programmed savings. It is important to plan a goal with savings, so you can visualize it as a prize.
Place purchases that are not necessary, it is not advisable to buy on impulse.
Make a budget that details all your expenses, keep in mind the installments of your loan and how to pay it quickly and grounded to your economic reality.
When applying for a loan online at Athos, correctly project the total cost of the loan, it is not feasible to make loans that commit more than 50% of the income.
With these recommendations you can handle loans correctly. At this point it is key to remember that with Athos you access a credit quota and you can additionally use our electronic platforms to instrumentalize your credit and disbursement, and pay everything virtually.
Is to show transparency in all costs, to facilitate the process of requesting a loan to be used in emergencies and specific needs, such as: unforeseen events of your children, helping a loved one, paying public services or overdue urgent bills, fixing your environment of transport (vehicle) or buy medicines. We disburse recurring customers in your bank account in less than 6 hours.
For 2018, loans in Colombia are projected to be massive thanks to the evolution of technology and the success achieved to date, followed by the progress in which large fintechs around the world make alliances with strong competitors of traditional banking willing to provide the consumer with a customized loan.