SMS loan or so-called. There are many “fast loans” on the Swedish market. For example, here you can read more about quick loans.

I have good experiences with many, both as a borrower and a partner. Then there are some ugly fish too. Full fish, have been found in all times and in all industries.

Tightening legislation


Fast loans, for various reasons, have been stained as something rogue. There are historical reasons for this. Fast loans are another word for SMS loans. It was much easier in the past, in the time before smartphones and security systems on the internet were as established.

Of course, fraud was easier, it was a challenge especially when smartphones came. Loans on SMS became fast loans through regular telephone calls and with simple online applications. In the early 2000s, fast loans were used to launder money, and today the Swedish Financial Supervisory Authority has a review of the lenders’ activities.

Interest rates caused people to consider fast loans to be unreasonable, which is why they introduced a rate cap about a couple of years ago. The decision in Sweden’s parliament was carried out without major newspaper headlines. Many people still know today that they do not have as high interest rates. Further legislation has been tightened around how to market fast loans. You can ask for all these changes if it is so much dirtier than more common loan forms on the Swedish market.

Personal responsibility


Quick loans are something that should not, should or cannot be borrowed by e.g. children or unauthorized individuals. Anyone who is an adult is expected to have a consistency mindset, and you feel that you are capable of making your own decisions. You are in charge of your own, or perhaps the finances of your family or organization.

Lenders and loan intermediaries should not be charged for irresponsible actions on the part of the borrower. Quick loans, as well as other types of loans, can also help those who really need and can repay. These are two more reasons why one is questioning whether fast loans are really bad.