Good Finance shakes well | Compare loans online and borrow money quickly
Many people have noticed Folkefinans AS’s new brand Good Finance. However, our confidence in the brand has been a little thorny since they have rocked back and forth since launch. This is about both their maximum loan amount but also regarding their credit assessments.
We will explain what we mean by this
Since the company launched the Good Finance brand, the loan terms have changed many times. The loan amounts have fluctuated upwards and downwards, and from the beginning, having offered loans of USD 20000, they have been changed upwards and downwards in several rounds. At most, it has been possible to apply for loans of USD 50000, but Good Finance has taken that opportunity again.
In the beginning, it also seemed that Good Finance was giving loans to a great many people, regardless of whether they had a slightly lower credit rating, but a kind of automated sorting means that more and more people from denying answers or offers to borrow, for example USD 5,000, even if they applied for a significantly higher loan amount.
Such a behavior could in the worst case indicate that Good Finance has received or is close to receiving comments from Finansinspektionen regarding its credit assessments. Of course, it doesn’t have to be that way, but it could be a signal for just that.
Need to be worried about applying for a loan with Good Finance?
The answer to that question is no, regardless of the reasons why they want to go back and forth in such loan terms, they will, like other loans, be forced to stabilize. Competition is stiff and losing confidence through such small things as changing loan conditions back and forth will have to end in the long run.
Good Finance without UC or not?
Many people are often wrong about UC and credit reporting and this also affects Good Finance as well as other loans in the same category. Good Finance does not use Upplysningscentralen AB when ordering its credit information. All credit companies dealing with serious lending are, in principle, obliged to obtain a written credit report from one of the companies providing them.
A good idea for a unique loan.
It is quite obvious that the company’s idea with the brand was to stand out from the crowd. By offering a sms loan with an individual interest rate, it is undoubtedly different from the amount. However, it does not create enough confidence as long as they change the other conditions back and forth, even though the very basic idea of a different loan in the category is in many ways brilliant.
Several established brands in the portfolio
In addition to Good Finance, the company has several other established brands in its portfolio. The most famous and popular of them is Monetti, which is the former Folkia loan. It is clear that the company has made a renewal effort since almost simultaneously when they launched Good Finance they also renamed their former “Folkial loan”.
Perhaps the least known and also the least advantageous loan in the portfolio is E-bank, which is a very short-term and more traditional short-term loan of the smaller nature. Certainly, many people can certainly benefit from this type of loan as well, but it is not the most advantageous in their niche.