Debts, purchases or repairs: what is the money from fintech loans used for?

The cancellation of debts is the main reason why loans are taken in fintech, according to a survey carried out by

Thus, the cancellation of debts (36.2%) specifically aimed at canceling items such as: accounts payable, credit cards, taxes or other credits, remains the main reason for requiring a loan with the fintech dedicated to granting loans of up to 50,000 pesos.

“We target the underbanked public, which has a bank account but due to its credit risk profile does not access the products or services that the bank offers. On the other hand, to our renovating clients we offer higher amounts and, according to the classification of each client, lower rates or greater amount of fees,” he concluded.

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