Why do Romanians take quick loans?
Romanians usually take quick loans to renovate their houses and to cover other household needs, according to an online survey that targeted the urban population.
Romania Insider · Journalist
· Updated · 1 min read
Romanians usually take quick loans to renovate their houses and to cover other household needs, according to an online survey that targeted the urban population.
About a quarter of the urban internet users who have accessed quick loans said they borrowed money from non-banking financial institutions (IFN) to finance house renovation and other household needs.
Almost 21% of the respondents said they needed the money to pay for medical expenses and 15% borrowed money for other expenses.
The study was carried out by market research company Gfk for local firm Viva Credit, which specializes in quick loans.
More Romanians have started to borrow small sums from non-banking financial institutions to cover short-term cash needs rather than asking friends for help, according to Viva Credit representatives.
