The business sector and it’s relationship with finance is a highly complex one. Before one ventures into starting their own business, he/she should know that in business, it’s not just about the service or product you offer, but also about money; how you can efficiently handle it, how much you have as your back-up, and so on. Very often, most businesses do not have a good lump of money as their back-up plan when it comes to dealing with matters of finance and so they all have a difficult time when they most need it – during the payday. Here is where the payday loan comes to the rescue. In Poland, the BIK is a financial body that lends help to those in need of payday loans. But at times, many businesses fail to qualify and therefore do not receive a payday loan. It is as if it was chwilówka bez bik! We’ll take a deep look into the subjects: payday loan and BIK.

What is a payday loan?

As mentioned above, most businesses, especially start-ups fall short on their finance reserves by the end of the month and would need and additional extra bit of help to get through the month end. A payday loan allows one to borrow a small sum of money which has to be repaid by the end of the next month. They are a reliable source of financial back-up for all who need help to meet their immediate financial requirements. These loans are for the short term duration and so are also known as payday advance or cash advance.

Though the processes for getting a payday loan may vary, the basic structure for the whole process includes the following steps.

• Complete and submit your payday application request
• Wait for the loan lending decision. If you have been ruled eligible,
• Sign all the required documents for your payday loan
• Receive the small amount of money allowed through the loan
• Repay the amount before the next month end

What is BIK?

BIK (BIURO INFORMACJI KREDYTOWEJ), is an organization in Poland that deals with matters in the financial sector. Its mission is to promote the various business transactions between the participants in Poland with trust and safety by providing reliable information that is as complete as possible. The company carries out it’s activities in accordance to the banking laws – The Act of 29 August 1997.

Since BIK abides by it’s policies strictly, sometimes, businesses fail to qualify for the payday loan. Therefore, in Poland there is chwilówka bez bik, but there is nothing major that one should be worried about. There are several other organizations that provide the payday loan facility.