Loans and Credits with Financial Credit Institutions: Everything You Need to Know


The question of whether you can ask for a loan when you are in a register of defaulters such as Financial Credit Institutions or RAI is one of the most worrying to Spaniards. However, it seems that the response is increasingly positive. Find out in this guide all you need to know about this form of financing.

Until some time ago, getting a loan from a list of defaulters was a truly impossible mission. However, with the passage of time, financial institutions have opened little by little to this possibility and, today, there are already many that agree to grant this type of loans.

How to obtain a loan with Financial Credit Institutions? Let’s review all the points you should know in the following guide.

What are the records of defaulters?

What are the records of defaulters?

The records or lists of defaulters are instruments created by the financial system that serve to evaluate and register all those people who maintain some type of debt.

In Spain, the different registers of defaulters are the following:

  • RAI or Record of Unpaid Acceptances

The Registry of Defaulted Acceptances is a register of defaulters managed by the Center for Inter-Bank Cooperation and its purpose is to collect information regarding debtors of an amount equal to or greater than 300.51 euros that are produced by documents that show the signature of the debtor recognizing the debt.

Generally, the people who are part of this registry correspond to those who have signed checks without funds.

  • Financial Credit Institutions or National Association of Credit Financial Institutions

The Financial Credit Institutions is a register of defaulters managed by the company Equifax. Its mission is based on the “provision of information services on asset solvency and data credit regarding compliance by individuals or legal entities with their financial and credit obligations to support decision-making in business relationships in the financial and credit fields. “

The Financial Credit Institutions brings together all those debtors who, for example, have not paid the electricity, telephone or gas bill.

What kind of loans can be requested when registered with Financial Credit Institutions?

What kind of loans can be requested when registered with Financial Credit Institutions?

Currently, there are different types of credits that are granted to people with Financial Credit Institutions or RAI. However, the easiest to obtain are the quick loans, because they present flexible requirements and do not involve practically any type of paperwork.

Among the loans with Financial Credit Institutions that you can find today in the market are:

Mini-credits with Financial Credit Institutions or RAI

These loans are characterized by granting low amounts with terms that do not exceed 30 days. In addition, their processing and granting are carried out quite quickly. In order to apply for this type of banking product you will only have to fill out a form (usually online) and wait for approval.

If your mini credit is accepted you will receive the money directly in your bank account. It is important that you know that the requirements for this type of loans consist in the justification of sufficient and permanent income. Do not forget that the presentation of a payroll is not always a mandatory requirement for this type of credits.

Quick loans with large Financial Credit Institutions

This type of loan offers amounts higher than the previous loan type. In general, the amounts are around 5,000 euros. Regarding the type of deadline for their return, these usually reach three years.

In this case, the requirements to request this type of product will depend on the bank you go to. Given this, we advise you to inform yourself very well before making the request.

Where to apply for a loan with Financial Credit Institutions?

Where to apply for a loan with Financial Credit Institutions?

In general, the entities that grant mini-credits with Financial Credit Institutions are the private credit companies. Traditional financial institutions such as banks and others are not willing to take such a risk.

It is important that before requesting a loan of this type you find out which are the trusted private entities, the requirements they request and the maximum amount that you can ask for.

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