Online Loans to Increase by Five Times


It is estimated that 500,000 online loans will be requested in Peru.

In 2017 there were registered 143,000 online loans, which was considered a considerable increase since they first showed up in the market in 2016. According to Holaandy, owned by Latin Fintech, the increase in 2018 is projected to be almost five times what it was in 2017.

Jorge del Carpion, one of Holaandy’s founders mentions that Peruvians have learned the value, simplicity and safety of online loans, saving a lot of paperwork and being way faster than bureaucratic procedures in banks. Suggesting why these loans are particularly popular among single men. Single men represent a 75% of the applicants for online loans, of them 39% have no children and have a technical career. Each of them has an average income of S / 3,000 and most have their own business meaning that they are likely to use this loans to boost their own businesses.

The majority of applicants (73%) are in Lima followed by Callao and Arequipa.

If you are looking for an online loan, you can ask for it following this easy steps:

  1. Select the amount:  first, you must select the amount and the number of desired shares. The requesting user may have up to S /. 2,000 if you are a recurring customer or from S / .500 if you request it for the first time. The terms to be paid are proposed between one and three installments depending on the user’s profile.
  2. Complete a form: Once the amount to be requested has been selected along with the fees to be paid, a form must be completed to detail personal data such as  DNI, name, surnames, phone number, email, among others.
  3. You’ll receive the loan within 1 hour: Finally, an account number must be entered in the name of the applicant in the permitted banks. The client will then receive a PIN code as verification on his cell phone, which must be entered as an electronic signature on the web portal. Once the loan is approved, within one hour the loan funds will be deposited in your bank account.

Have you ever thought of requesting an online loan?

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(Cover Photo Flickr)


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Aris Sandrea

A native of Zulia, Venezuela. Aris joins linvinginperu after moving to Lima to work as a content creator. Bachelor’s degree in accountancy and 2 years of experience as a professional article writer and community manager. Watching movies and series, reading books and riding the bicycle is some of his preferred activities. Passionate about the idea of traveling the world to learn more about other cultures. Contact: