There are many kinds of credits for anyone of us who needs some loans. Well, basically, there are only two kinds of credit. The first one is the profit oriented credit. This is the kind of credit that would be given for anyone who needs some loans and the lender takes profits from the loans such as by taking the high interest rates. The other kinds of loans would be the non profit consumer credit. This is the kid of nonprofit credit that especially conducted for some people who were economically weak but they needed some sorts of credit for some reasons.
Perhaps, they were about to buy a motorcycle or a car to run their businesses. So, in this case, they would need the vehicle. Since they didn’t have any savings, and they could pay for too much installments, the non profit consumer credit would be the option. It would give them some chances to get the vehicle with the very low interest rate from the loan. Usually, this kind of loans has been provided by some foundations. It could be some sorts of social foundations, or it could be some kinds of religious foundation as well.
For some people, the non profit consumer credit is the best solution for them. They couldn’t get the loans from the banks or some other kinds of commercial finance services. They couldn’t get it because they didn’t have any collateral. But even though they could get the loans, they would have some problems of paying it. The interest rate would give them too much burden each month and in the end, it would even give them more problems. That is something that would not be good for them. That is why; this kind of credits is something that they would love to have.
