Updated September 28, 2026 · BorrowCue Editorial Team
Banco General vs Sofkredit
Banco General vs Sofkredit: the differences
| Compare |  Banco General |  Sofkredit |
|---|---|---|
| Loan amount | $2,000 to $65,000 | €12,000 to €300,000 |
| Credit check | Hard | Soft prequal |
| Funding time | Fast approval and disbursement | 15-20 days after approval; same day as the notary signing, about one week if documentation is sent quickly |
| Lender type | Direct lender | Broker |
| Eligibility | Age 21 and over, employed in Panama, minimum salary to apply US$225-600 depending on sector, good APC credit references and 2 years job continuity | Natural or legal persons of legal age (+18) with Spanish nationality or residence, holder of a bank account; for mortgage-guaranteed loans a property must be owned, free of charges or with at least 70% of the mortgage repaid |
| Loan types | Personal, Debt consolidation | Secured, Debt consolidation, Business |
| Credit needed | Good | Poor |
| APR | Not confirmed | 10.74% to 18.06% |
| Term | Not confirmed | 6 to 240 months |
| Arrangement fee | Not confirmed | 6% to 9% of the loan; on a 15,000 EUR mortgage-guaranteed loan the commission is 900 EUR minimum and 1,350 EUR maximum, charged by the collaborating lender; Sofkredit's own service costs the user nothing |
| Representative example | Not confirmed | a 15,000 EUR loan at 9% interest over 5 years returns a total of 21,750 EUR |
| Free early repayment | Yes | Not confirmed |
| Origination fee (%) | Not confirmed | 6% to 9% |
| Use cases | Not confirmed | Home improvement |
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Key differences
- Banco General scores higher overall: 9.4 vs 8.6.
- Sofkredit is licensed in 1 more country.
- Sofkredit is available in 2 more countries.
- Support channels: only Banco General offers Chat.
- Support channels: only Sofkredit offers Email.
- Loan types: only Banco General offers Personal.
- Loan types: only Sofkredit offers Secured, Business.
Our verdict on each
Banco General
Banco General suits Panamanian borrowers with steady employment who want a personal or consolidation loan and quick disbursement from a bank founded in 1955. Free early repayment and phone, chat and help centre help, but hard and good credit references narrow who gets accepted.
Sofkredit
Sofkredit suits Spanish borrowers who want property backed finance and can wait for a notary appointment. The headline cost is an arrangement fee of 6% to 9% of the loan, while Sofkredit's own service adds nothing beyond it.
Score breakdown
| Area | Banco General | Sofkredit |
|---|---|---|
| Cost | 9.2Higher | 8.5 |
| Offer | 9.3Direct lender for personal and debt consolidation loans of $2,000 to $65,000, plus Fast approval and disbursement. | 9.3Ranges cover €12,000 to €300,000, 6 to 240 and 10.74% to 18.06%, with home equity and remortgage and home improvement on the same application. |
| Trust | 9.5Higher | 8.3 |
Feature by feature
| Loan types | Banco General | Sofkredit |
|---|---|---|
| Personal | Yes | No |
| Debt consolidation | Yes | Yes |
| Secured | No | Yes |
| Business | No | Yes |
Availability and regulation
| Country | Banco General | Sofkredit |
|---|---|---|
| Italy | Not confirmed | |
| Panama | Not confirmed | |
| Spain | Not confirmed | Banco de Espana E020 |
Additional countries for Banco General: 1. Additional countries for Sofkredit: 3.
How they place
| Ranking | Banco General | Sofkredit |
|---|---|---|
| Debt consolidation loans | 58 of 425 | 2 of 425 |
| Mortgages | 39 of 719 | 1 of 719 |
| Remortgage deals | 23 of 351 | 1 of 351 |
| Home equity loans and HELOCs | 10 of 110 | 1 of 110 |
Every fact side by side
| Fact | Banco General | Sofkredit |
|---|---|---|
| Features | Not confirmed | Same day funding |
| Legal entity | Banco General, S.A. | Kova Finance, S.L. |
| Headquarters | Panama | Spain |
| Founded | 1955 | Not confirmed |
| Support channels | Phone, Chat, Help centre | Email, Phone, Help centre |
Mortgages
| Fact | Banco General | Sofkredit |
|---|---|---|
| Initial rate | Not confirmed | 8% to 14% |
| APRC | Not confirmed | 10.74% to 18.06% |
| Fixed period | Not confirmed | 0.5 to 20 years |
| Maximum loan to value | Not confirmed | 30% |
| Product fee | Not confirmed | €900 to €1,350 |
| Purpose | Purchase, First time buyer, Remortgage, Home equityCovers more | Home equity, Remortgage |
Where each stands against the rest
| Fact | Banco General | Sofkredit | Median |
|---|---|---|---|
| APR | Not confirmed | 10.74% to 18.06%above the median | 8.99 |
| Term | Not confirmed | 6 to 240 monthshighest quarter | 60 |
| Origination fee (%) | Not confirmed | 6% to 9%highest quarter | 0.25 |
Median across 1005 listed lenders.
Pros and cons
Banco General
Pros
- Loans of $2,000 to $65,000 cover both personal and debt consolidation needs
- Free early repayment lets you settle the balance early without extra charge
- Fast approval and disbursement keeps the money moving
Cons
- hard search means an application can affect your credit file
- Eligibility asks for a minimum salary, good credit references and job continuity
- $2,000 to $65,000 tops out below what some mortgage and equity borrowers need
Sofkredit
Pros
- Sofkredit's own service costs nothing, so the only charge to weigh is the lender's arrangement fee of 6% to 9%.
- The loan range €12,000 to €300,000 and the term range 6 to 240 suit both renovation projects and debt consolidation.
- Eligibility leans towards weaker files, with the credit needed listed as poor, and the credit check is soft prequal.
Cons
- The arrangement fee of 6% to 9% is a large share of the loan, and the product fee on a small mortgage guaranteed loan runs €900 to €1,350.
- Maximum loan to value is 30%, well below the 90% across listed lenders, so equity of your own is required.
- Sofkredit is a broker, so the contract sits with the collaborating lender rather than the site you apply through.
Who each suits
Banco General
Who it suits
- Employed adults in Panama with a salary above the stated minimum
- Borrowers consolidating several debts into one repayment
- Anyone who plans to settle the loan sooner than the full term
Who should look elsewhere
- Monzo Flex, if you are not paid in Panama
- Cashspace, if you need a different market and currency
- Anyone building credit with a thin or inconsistent file
Sofkredit
Who it suits
- Spanish residents and nationals who own a property that is free of charges or has most of its mortgage repaid
- Borrowers consolidating several debts into one payment, since debt consolidation is among the secured, debt consolidation and business
- Homeowners funding renovation work, as home improvement is the main listed use case
Who should look elsewhere
- Anyone who needs money the same week without a notary appointment, against the stated funding time
- Borrowers who want to borrow more than a low share of their property's value, given the 30% cap
- Small lenders wanting a quick online application rather than the documentation and notary steps this route involves
Country by country
| Country | Banco General | Sofkredit |
|---|---|---|
| France | No | Yes |
| Italy | No | Yes |
| Panama | Yes | No |
| Spain | No | Yes |
Questions about each
Banco General
How much can I borrow from Banco General?+
Personal loans run to $2,000 to $65,000, and the same line covers personal borrowing and debt consolidation. Larger borrowing needs are served by the mortgage products rather than the personal loan. Comparing PHP 500 to PHP 25,000 and £10,000 to £35,000 helps set the size against other lenders.
Does Banco General check my credit?+
Yes. The lender records a hard credit search, and the stated rule is good credit history. Applicants also need a minimum salary depending on sector and a period of job continuity, so a thin file can be turned down at the first step.
Sofkredit
What does Sofkredit charge to arrange a loan?+
The arrangement fee runs 6% to 9% of the loan and is charged by the collaborating lender. On a small mortgage guaranteed loan the commission falls within €900 to €1,350. Sofkredit's own service costs the borrower nothing beyond that lender charge.
How much can I borrow and for how long?+
Loan amounts run €12,000 to €300,000 and terms run 6 to 240, so the range is wide enough for a renovation or a debt consolidation. Terms and amounts are set by the collaborating lender rather than by the site you apply through.
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