Sparrow Finance is a Danish loan provider where you have the opportunity to borrow between 10,000 and 150,000 kroner. The company was founded in 2017 by the company behind L’easy and D: E: R – namely 3C Retail A / S. Therefore, you also get an experienced loan provider where the security is top notch. One of the things that makes Sparrow Finance attractive as a loan provider is its long maturity.
As a borrower you have the option to choose between a maturity of 1 year and 10 years. You can easily see through the online loan calculator how both maturity and amount can affect a loan. Sparrow Finance gives you a loan example based on their loan calculator. Your final loan terms are determined on the basis of your credit rating.
Loan money without providing collateral
At Sparrow Finance you can borrow up to DKK 150,000 completely without having to provide collateral for the loan. If you are going to borrow money from the bank, it is very common to put things of value in collateral for a loan. If you cannot repay the loan, the bank still has an opportunity to get the money back. For example, if you take out a car loan at the bank, you usually have to put your new car in collateral for the loan. You avoid that at Sparrow Finance.
Quick and easy application at Sparrow Finance
The entire loan process takes place online, so you avoid long meetings with an advisor. Also, don’t spend time telling why you should borrow money and what you want to spend them on. You have the opportunity to get a loan, whether you need to travel, want a new car or need a new kitchen. Sparrow Finance does not interfere with it at all. If you are approved for a loan, you can sign the loan agreement online and have the money paid out by the next working day. You will receive a response to your loan application within an hour.
Low interest and redemption at no cost
Sparrow Finance can offer a really attractive interest rate of up to 9.90%. The final interest rate is calculated based on your credit rating. You can read your final loan terms in the loan agreement before signing it. If you do not meet the requirements, you will be denied your application. If you still need to borrow money, it may be an idea to have 2 people on the application – for example, your partner and you. Here, of course, you must be aware of the consequences it may have. If you cannot repay the loan, it is your partner who is liable for it.
If you are approved to borrow money from Sparrow Finance, you have the opportunity to repay the loan ahead of time without paying extra costs. Some home providers require a fee if you would like to pay off your loan early – Sparrow Finance does not.