Almost 13 percent of Russians with bank loans turn to microfinance organizations (MFOs). writes about this RIA News Citing a study by online alternative lending service Moneyman (part of the IDF Eurasia fintech group).
Analysts conducted a study from October 1 to 15 in which they surveyed 1,500 adult Russians who already had a bank loan. Of these, 5.7% admitted that they applied to microfinance institutions for the purpose of “granting loans”. In total, 12.6% of the participants applied to microfinance institutions in some way. 87.4% of the participants have never received microcredit.
Participants stated that those who applied for a microloan to pay off a debt from a bank mostly (76%) did so due to a salary delay or an unforeseen life situation. The remaining 24% had difficulty answering or gave other reasons.
Moneyman Marketing Director Andrey Greznev noted that microcredit applications in the research show citizens’ need for microcredit. It’s not a fact that organizations can confirm this.
It happened before that knownHalf of Russians (50.3%) are ready to take a loan to buy or renovate real estate. At the same time, one in six people (16.6%) are not ready to apply for a loan under any circumstances.
Former microfinance institutions bored requirements for debtors.