Short-term loans: a customer guide for loan companies

As is well known, the offer of the vast majority of loan companies present on the Polish market are mainly solutions such as short-term loans. Does this mean, however, that the modern loan sector is characterized by monotony and the offers of individual lenders do not differ much? In no case! It can be safely argued that in terms of the number of available options and variants, the modern non -bank loans sector definitely outstrips the banking industry.

In addition to the sheer variety of offers available, the ever-growing number of non-bank lenders also deserves attention. Already, the Register of Loan Institutions operating at the Polish Financial Supervision Authority contains almost one hundred different entities, and this number is growing every year. Obviously, such a large variety is not only a favorable circumstance for the customer, but in some cases, it can also be a problem.

Short-term loans: the offer of today’s loan companies

Short-term loans: the offer of today

As a rule, the offer for short-term loans can be divided into two basic schemes:

  • The offer of companies providing promotional solutions ( first loan “for free”, loyalty programs)
  • The offer of companies providing only loans on terms consistent with the standard cost table

Obviously, quick loans belonging to the first of these categories are definitely more popular. Practice shows that customers seeking non-bank financing very often first pay attention to whether a given loan institution offers a promotion entitled APRC at 0%. However, some caution should be exercised here.

“Free” loans are really free, but remember that this is a promotion, not a standard offer. So if we breach the terms and conditions of the promotion (e.g. we repay the loan after the deadline), the lender may require us to repay the liability at standard costs rather than promotional ones. This is not an insidious “trick” but simply a record in the contract we sign before receiving the loan.

Are there short-term loans with no bases?


You can find a lot of ‘no base’ quick loan ads on the internet. However, it should be borne in mind that at present each and every loan institution always verifies our data in specific debtors’ databases.

Thus, there may be loans without Credit Checker checking or KRD checking, however, loans available with complete omission of checking customer data in databases are a myth.

However, does it follow from the above that the negative credit history, by definition, limits our chances of getting a loan? Not necessarily. Some lending institutions have a more flexible policy in this area, focused primarily on assessing the client’s real financial capabilities, and not their credit history.

Therefore, it is worth carefully reading the documentation made available by loan institutions as well as the tabs entitled Questions & Answers.

Are short-term loans and payday loans one and the same?

Are short-term loans and payday loans one and the same?

The answer to the above question is: not necessarily. It can be said that payday loans are always short-term loans, but short-term loans are not always payday loans.

The market also offers installment loans with a repayment period of e.g. 3 or 4 months, i.e. 90 or 120 days. In this case, however, we are not talking about ‘payday loans’, because the constitutive feature of the latter is that the liability is repaid once, not in installments.

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