The payday loan market is not a new invention in the world. Already in the early 2000´s were there companies that provided payday loans. Sweden as a country was a world leader in that segment and held a strong market position until 2008. Payday loans was until 2008 a typical Nordic phenomenon, except for the United States.
Today you can find a plethora of Swedish credit companies. On the bright side, it gives the consumer a lot of alternatives to choose from. However, it may also make it a bit difficult to find which credit company that suits you and your wallet the best.
Among the Swedish credit companies that have consolidated their position strongly on the Swedish market, www.sverigekredit.se is one worth to be mentioned. The company has a solid and long history. Providing their customers with a simple and user-friendly site, Sverigekredit gets the highest scores in customer surveys.
This is just one example out of many good companies that provide fair payday loans. Before deciding which one to choose, we would suggest you do a little research (payday loan terms may differ from company to company).
A new market sees the light of the day
Since 2008 the world of credit companies has quickly expanded and become a market full of competitors, all willingly to provide the best and most affordable payday loans.
A good example of this is Great Britain. Several credit companies have been established in recent years. And it’s not easy to find the right one in the jungle of companies, especially since there are new ones popping up all the time. A simple search for the keywords “payday loan” in the UK, for example, generates several million hits. Here’s a tip though: Quickquid is one of the leading UK payday companies that often receives a satisfactory customer rating. Keep in mind, the payday loan market in the UK has legally tightened up a bit the past year. This is due to the government’s wish to provide higher consumer protection.
Norway early bird on the loan market
Norway as a payday country is no exception on the Nordic market, where the country was investing in payday loan segment quite early. Payday loans can also be called quick loans or micro lending as well. As a rule, the loan terms are like those in Sweden. A company that stands out a little more than others on the Norwegian market is Fair-laan. At Trustpilot the company gets top grades by customers. The swift service is one of the company´s benefits mentioned.
The Spanish crisis accelerated the payday loans
The Spanish recession around year 2008 laid the foundation for a fast-growing market of payday loans. According to statistics from OCU (Spain’s leading consumer rights organization), approximately every third Spanish family takes a payday loan at the end of the month. Among the leading loan companies are Préstamo10, Vivus and Twinero.
The amount of money you must pay back in interest and fees differs a lot from case to case. This very fact can cause problems for consumers who fail to read the fine print. This is why we always encourage our readers to pay attention to the fine print before taking on any loan.