Updated September 28, 2026 · BorrowCue Editorial Team
Finipay vs Sofkredit
Finipay vs Sofkredit: the differences
| Compare |  Finipay |  Sofkredit |
|---|---|---|
| APR | 0% to 212%Lower | 10.74% to 18.06% |
| Loan amount | €300 to €5,000 | €12,000 to €300,000Higher |
| Term | 3 to 60 months | 6 to 240 monthsHigher |
| Arrangement fee | 0 EUR | 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 |
| Funding time | Under 24 hours | 15-20 days after approval; same day as the notary signing, about one week if documentation is sent quickly |
| Representative example | Personal loan of 1,000 EUR repaid in 12 monthly instalments: 342.22 EUR in costs, 1,342.22 EUR total repayable, APR 81% | a 15,000 EUR loan at 9% interest over 5 years returns a total of 21,750 EUR |
| Eligibility | Resident of Spain, aged 18 to 80, with DNI/NIE, Spanish bank account held in own name, mobile phone and email | 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 |
| Origination fee (%) | 0%Lower | 6% to 9% |
| Loan types | Personal, Payday, Debt consolidation, Car | Secured, Debt consolidation, Business |
| Credit check | Not confirmed | Soft prequal |
Same on both: Lender type (Broker), Credit needed (Poor), Use cases (Home improvement).
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Key differences
- Finipay scores higher overall: 8.9 vs 8.6.
- Sofkredit is available in 2 more countries.
- APR is lower at Finipay: 0% to 212% vs 10.74% to 18.06%.
- Origination fee (%) is lower at Finipay: 0% vs 6% to 9%.
- Loan amount is higher at Sofkredit: €12,000 to €300,000 vs €300 to €5,000.
- Term is higher at Sofkredit: 6 to 240 months vs 3 to 60 months.
- Loan types: only Finipay offers Personal, Payday, Car.
- Loan types: only Sofkredit offers Secured, Business.
Our verdict on each
Finipay
Finipay suits Spanish adults with poor credit who need a small euro loan quickly and want no set-up charge. The trade-off is cost: an APR band of 0% to 212% and a representative example where a short loan costs far more to repay than to borrow.
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 | Finipay | Sofkredit |
|---|---|---|
| Cost | 9.7HigherThe 0% to 212% band is far wider than the 12.25% midpoint for personal loans here, so cost depends almost entirely on your credit file. | 8.5 |
| Offer | 8.8 | 9.3HigherRanges 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 | 8.3 | 8.3 |
What each covers
| Loan types | Finipay | Sofkredit |
|---|---|---|
| Personal | Yes | No |
| Payday | Yes | No |
| Debt consolidation | Yes | Yes |
| Secured | No | Yes |
| Car | Yes | No |
| Business | No | Yes |
| Use cases | Finipay | Sofkredit |
|---|---|---|
| Home improvement | Yes | Yes |
Where these facts come from
Finipay
- finipay.es: 16 facts, checked September 26, 2026
Sofkredit
- sofkredit.com: 17 facts, checked September 26, 2026
How they place
| Ranking | Finipay | Sofkredit |
|---|---|---|
| Loans for bad credit | 12 of 275 | 2 of 275 |
| Debt consolidation loans | 9 of 425 | 2 of 425 |
| Home improvement loans | 9 of 562 | 2 of 562 |
Every fact side by side
| Fact | Finipay | Sofkredit |
|---|---|---|
| Features | Same day funding | Same day funding |
| Legal entity | Finceptiv OU | Kova Finance, S.L. |
| Headquarters | Estonia | Spain |
| Support channels | Phone, Email, Help centre | Email, Phone, Help centre |
Mortgages
| Fact | Finipay | 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 | Not confirmed | Home equity, Remortgage |
Where each stands against the rest
| Fact | Finipay | Sofkredit | Median |
|---|---|---|---|
| APR | 0% to 212%lowest quarter | 10.74% to 18.06%above the median | 8.99 |
| Loan amount | €300 to €5,000lowest quarter | €12,000 to €300,000highest quarter | €40,000 |
| Term | 3 to 60 monthsat the median | 6 to 240 monthshighest quarter | 60 |
| Origination fee (%) | 0%below the median | 6% to 9%highest quarter | 0.25% |
Median across 1005 listed lenders.
Pros and cons
Finipay
Pros
- Setting the loan up adds nothing: the origination fee is 0 EUR, so no charge is bolted on to the interest.
- Money arrives in Under 24 hours, and same-day funding sits in same day funding.
- Poor credit is the target: poor means the service is aimed at files mainstream lenders decline.
Cons
- Finipay is a broker rather than the lender (broker), so the rate is set by a partner lender and its terms are not spelled out here.
- The cost of a short term is severe: the representative example repays far more than it lends, and the top of 0% to 212% is steep.
- Borrowing stops at €300 to €5,000, so a larger renovation, car purchase or consolidation job needs another provider.
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
Finipay
Who it suits
- Adults in Spain with poor credit who need a modest sum quickly and would be turned down elsewhere, since poor is the level Finipay targets.
- Borrowers who want a fee-free set-up and a fast transfer, and who will read the representative example before choosing a term.
- People covering a car, a bill to consolidate or a home improvement, given personal, payday and debt consolidation and home improvement.
Who should look elsewhere
- Borrowers with a strong file who want the cheapest rate: Monzo Flex holds its APR at 10% to 23%, well under the top of Finipay's 0% to 212%.
- Anyone who needs to borrow more than €300 to €5,000: Cashspace lists its rate in Philippine pesos at PHP 12 to PHP 36, so it is not a euro answer to a larger sum.
- Shoppers chasing an interest-free headline rate: Cashspace ES shows an APR of 0%, while Finipay's 0% to 212% is the band where a real rate is quoted.
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
Current offers
Finipay
Current offer
First period offer
First 300 EUR loan with no commission, repayable in 70 days: 300 EUR at 0% commission, 70 days
Apply through the online application form on finipay.es; resident of Spain aged 18-80 with DNI/NIE and Spanish bank account
Source, checked September 26, 2026
Country by country
| Country | Finipay | Sofkredit |
|---|---|---|
| France | No | Yes |
| Italy | No | Yes |
| Spain | Yes | Yes |
Questions about each
Finipay
Is there a fee for taking out a Finipay loan?+
No arrangement charge is added. The origination fee is 0 EUR, so the money you arrange does not shrink before it reaches you. What you pay is interest on the loan, and the size of that depends on the rate you are offered and the term you choose.
How much can I borrow, and for how long?+
Loans run €300 to €5,000, and terms run 3 to 60 months. That range is built for short and medium needs such as a repair, a car deposit or a bill to consolidate. It is not a route to a large renovation, because the ceiling is well below what the biggest lenders here arrange.
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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