What is a mini-loan?

We speak of a mini loan when it comes to a loan that you take out with an organization up to a maximum of 1500 euros.

 Why a mini loan?Why a mini loan?

That can be very different per provider. With some lenders you can only choose certain standard amounts, with the maximum amount different. In almost all cases, however, you can not borrow more than 1500 euros if you want to take out a mini loan. There are several lenders online who can offer a mini loan. In any case, it is wise to not immediately take out such a loan, but first look carefully at what exactly you are doing and what the conditions are.

Why a mini loan?

There are many reasons why you should close a mini-loan. In most cases it is really necessary. For example, if you have a very expensive month in December and actually just a little short. A mini loan offers the solution and you can then easily pay back in January. Or something is broken that really needs to be replaced but you do not have money. Think for example of washing machine or certain parts of the car. In that case, a mini-loan can also offer a solution.

Unexpected expenses can not be paid directly for everyone. The nice thing about miniClyde Griffiths is that you can request it immediately when you need it and that you can solve problems with it. Moreover, you are not stuck with something for years, but of course you pay it back as soon as possible!

The conditions of a mini loan

Incidentally, it is not possible for everyone to just take out a mini-loan. There are almost always certain conditions set. Although these conditions differ per provider, they usually come down to the same aspects. Think, for example, of your age. For many providers of mini-exercises you must be at least 21 and in others, 18 is the minimum age. We also often look at your salary. If you do not have monthly income, it is logical that you can not just borrow money. The lender must be able to assume that you are paying back the borrowed money. You may also not have a bad payment history with these or other lenders.

BKR Assessment when concluding a mini-loan

Almost every loan that you take out in the Netherlands is registered with the Credit Registration Office (BKR). In this way, every Dutch citizen is kept track of how much debt he or she has. That is an effective way to prevent you from getting deeper and deeper into debt. Only a government study debt is not registered with the BKR. When you want to take out a loan, the lender often checks whether you are registered with the BKR. On this basis, the application can be refused. This can also happen with a mini-loan. However, there are also lenders who indicate that they do not look at a possible BKR registration with a mini-loan. With these providers you can even conclude a mini loan with BKR. 15

Fast money at home with a mini loan!

The biggest advantage of mini-exercises? That is without doubt the fact that you can arrange it incredibly quickly. When you want to borrow a large amount, various appointments and weeks often pass over it. That is not surprising. However, you can close a mini loan online very quickly. You enter some information about yourself and in some cases you also have to upload some papers or send them by email. Once you have done this, your application will be reviewed by the provider of the mini-loans. If this approves your application, the money will also be transferred immediately. As a result, in many cases you can arrange a small loan within 24 hours! And that without being out of the house.

Interest, term and guarantee for a mini loan

Interest is also included in mini loans. In fact, the interest of a mini-loan is generally quite high. Because you usually have to repay the interest fairly quickly and it is about a low amount, interest rates are sometimes counted up to 14%. The provider also wants to earn money. Some lenders do not charge interest on a mini loan but ask a fixed amount on top of the borrowed money that you have to pay back.

The term for mini-exercises is relatively short. In most cases you have 30 days to pay back. With some providers you can opt for a longer term such as 60 or 90 days. In that case, however, the interest also goes up. There are also lenders who ask for a guarantee when you take out a loan. If you do not have one, you can request it from a company that is linked to the lender. However, you pay extra money for that.

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