What are the Disadvantages of Flash Loans?

[Suba]

Flash loans are a type of loan provided for those who need fast cash for emergencies or other purposes, it is also a type of short loan with a fast process, usually less than a day and an easy process. Some examples of flash loans such as online loans that can be accessed through fintech apps on smartphones, unsecured credit from banks or other financial institutions.

 

[Starmix]

I have not heard here about a flash loan. There might be but I have not encountered this. I only heard about emergency loan in an office mostly in private offices not in a government run offices.

 

[Suba]

I have not heard here about a flash loan. There might be but I have not encountered this. I only heard about emergency loan in an office mostly in private offices not in a government run offices.

Is there no online loan in your country? which we often find on mobile phone apps, this is also one of the types of flash loans. If you have never heard of it, you can search on the Appstore and Playstore. We do not need to be involved in taking loans but as a discussion only.

 

[SilverLance]

I was unfamiliar with this term "Flash loan". But now that you've explained, yes I understand what you mean. I've heard most of these type of loans are mostly operated by fraudulent people.

 

[Suba]

In fact, the term flash loan does not only refer to online loans on mobile apps, but all types of loans with a fast process (less than 24 hours and without collateral) from both banking and non-banking institutions. In addition, the term flash loan is also used in the crypto world which is applied to DeFi.

 

[Starmix]

Is there no online loan in your country? which we often find on mobile phone apps, this is also one of the types of flash loans. If you have never heard of it, you can search on the Appstore and Playstore. We do not need to be involved in taking loans but as a discussion only.

There are online loans operated by private loaners but I have no t heard from my friends that they applied for a loan via online. I am also not in need of a flash loan.

 

[Suba]

There are online loans operated by private loaners but I have no t heard from my friends that they applied for a loan via online. I am also not in need of a flash loan.

Personally I also do not need a loan in any form, but as a discussion either on the forum site or in the webinar so that financial issues that I must master so I have to continue to learn what I do not know.

 

[Starmix]

Personally I also do not need a loan in any form, but as a discussion either on the forum site or in the webinar so that financial issues that I must master so I have to continue to learn what I do not know.

At least there are online operators who can help those in need of an urgent cash. I have doubt about the interest they would charge to the loaners. It might be sky is the limit interest he he.

 

[Augusta]

Flash loans ? this is new to me as I have never come across it but I think with this kind of loan the interest might be high and time of repayment will he short

 

[Springtime]

Here, most banks and financial institutions offer loans which can be applied online, and the processing time is quick, usually within 24 hours. So I think this may be a kind of flash loan.

 

[Suba]

That's right, if the loan withdrawal process is less than 24 hours, and does not ask for collateral, it will be classified as a flash loan which usually has higher interest compared to standard loan types.

 

[Stardom22]

This is the first time l am hearing about flash loans here. So l would take some time to have a look at it very keenly.

 

[Augusta]

I wish we had this kind of loan scheme here but it is good but scammers can just take over to take and would not pay back