In todays fast moving world time is one of the most important aspect of out lives because we can’t get more time and anything we do takes up our time. That is why people usually are really pleased when a product or service makes them more time directly or indirectly automating some aspects of their lives. And that is why when companies created loans that people can borrow within 15 minutes and that can be done by just sending an SMS, people quickly realized that this is the correct way to borrow money for everyday expenses and emergencies.

What is an SMS loan?

An SMS credit simply speaking is a loan type that you can get by just sending a correctly formatted SMS to a phone number that your lender has issued. This is probably the fastest way how to borrow money and it even trumps online loans because nothing beats a convenience of a text message that you can write in a couple of seconds.

Why choose SMS loans?

As I mentioned earlier people are always searching for a more faster and more convenient ways to do things and there is nothing faster than sending an SMS to get a loan. You just have to type the loan amount, the term when you will repay that loan and in a couple of minutes you will receive the money in your bank account!

How SMS loans work?

To get the option to borrow money with an SMS message you have to first register to a lender that provides such a service. Then when you are proved and your mobile phone number has been added to their database you have to send a correctly formatted text with the amount and the time for how long you want your loan. Then if everything is in order their automated system will alert a personal that will quickly check and approve your loan and that money will be sent to your bank account that you provided at the registration process.


How much can you borrow?

SMS loans are a sub-category of online loans and because of that you can get exactly the same sums that you get under fast loans. On average these sums can vary from 50 GEL to about 1500 GEL but the average loan is no more than 500 Lari. Of course there are even some companies that give up to 5000 GEL but you have to be a well known customer to get such advantages and such a large amount of money.

What are SMS loan repayment terms?

SMS loans usually can be taken from 1 to 30 days but there are companies that will give you up to 4 month repayment term options but they are also reserved for loyal returning customers. If you are borrowing for the first time then most probably you will be able to get a loan for up to 30 days.

Who can get an SMS loan?

SMS online loans just like online fast loans are very accessible and have few restrictions on them. Creditors have made these loans very accessible to give a wide range of consumers the ability to borrow in emergency situations but that being said there are a few criteria you need to meet:

  • Age restrictions – You have to be at least 20 years old and you can’t be older than 70 years old to get approved for an SMS loan. These restrictions are made so kids can’t get their hands on loans and so older people won’t ruin their pension by borrowing money and needing to repay it afterwards.
  • Birth place restrictions – You have to be a citizen of Georgia to be able to apply to these Loans and that is necessary so immigrants could not get loans that they can’t repay.
  • Bank account restrictions – You will also need a bank account in any of the banks that are registered in Georgia because your loan will be sent to your bank account and you can’t borrow in cash.
  • Telephone restrictions – To get an SMS loan the obvious thing is that you will need a mobile phone to write your text and send it to your lender.
  • Registration restrictions – And you also need to register online and get an approved account before you can borrow using SMS messages.

How can I get an SMS loan?

If you have chosen to get an SMS loan then you should follow these guidelines that will be outlined below. But keep in mind that every lender creates his own system and the steps required to get your money may be different depending on where you want to borrow.

  1. First of all you need to choose the right lender that will provide you this SMS loan service. You should choose a lender that has a great customer rating and that also has low interest rates and an easy and straight forward loan system.
  2. The next step is to register your account at your chosen lenders website by providing some background information about yourself. You need to register because that lender needs to know your phone number and link it with your bank account so that it knows where to deposit that loan.
  3. Next step is to activate your mobile phone number by typing in a simple text code that you will receive as an SMS. This is done to ensure you are the one who is registering so there are no mishaps later.
  4. And then th next step is to go to your bank account and deposit 1 tetri to the lenders bank account so that your bank account details are linked together with your approved mobile phone number.
  5. When you get a response from your lender that your account is approved you can now send an SMS with the correct formatting and get your loan deposited at your bank account.

What are the alternatives?

There are not that much alternatives that can rival borrowing using an SMS text message. But you can always use your computer or your smartphone to get a loan without the need for an SMS but because in rural areas there is poor cell connection it can sometimes be a bit tricky to do that. And to get a loan online you will need to always take with you your bank account details and that is a big safety risk!