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What is a mini-loan?



You have probably read about it or heard the commercials on the radio, but what exactly is a mini-loan or also called a flash loan?

minilening

The mini loan is a loan form where you can borrow an amount of less than 1000 euros . The loan amount must also be paid back fairly quickly, since the mini-loan providers have a short term of around 15 or 45 days. But on the other hand, requesting the mini-loan also goes quickly, in the most advantageous case you can already have the necessary money within a few minutes. If you have a balance tip , the mini-loan is an excellent solution.

When to request a mini loan?

If you have never heard of a mini loan, you may now think why would I want to borrow up to 1000 euros? Well it will happen to you there is a household appliance defect which you use every day and you have not the necessary amount available or you receive a substantial bill in the mailbox which needs to be paid quickly then it is nice that you have at minimum costs can borrow money quickly through a mini loan.

How fast can I borrow money?

If you are going to borrow money by means of a mini loan, you will very quickly have the money in your account, only with the first application it will take a little longer because you will have to present a copy of your ID and a payslip. If you then borrow money again with a mini loan, you can make this request via your mobile phone via the SMS. The speed with which you have the money in your account also has to do with whether the mini-loaner selected by you will carry out a BKR check if this is the case then the application will logically take a little more time than there is no BKR testing is performed. There are mini-loan providers where you have the money with 4 days on your account but if you want the money the same day of the request on your bill then there are additional costs calculated, so pay attention to this if you really need fast money has.

You have to take into account that because you want to borrow quickly you can overlook certain conditions of the relevant mini-loaner and this could cost you a lot of money. Always make sure, however quickly you think you need the money, read through the conditions of the mini-loaner!

Mini loan providers

For a mini loan you go to a financial institution that specializes in offering mini loans, we have selected below some mini-loan providers for you that we know are known as reliable.

Borrow without work

With the mini loan it is also possible to borrow money if you have no work, so it is possible to borrow with a benefit. However, it is true that you must have a certain income and this also differs per provider. Borrowing money without work is also called borrowing without payroll and in this time of crisis where many people have no work this form of borrowing is becoming very popular. Whether it is wise to borrow money if you do not have a job there, you have to think carefully about it, because as you know, the amount of money must also be repaid again in a short period of time.

Mini loan or other loan?

If you need money, then you are faced with the choice of borrowing money through a mini loan or borrowing money through a personal loan or revolving credit . Actually, it is not that difficult to make this choice. If you need a relatively small amount of money quickly, then it is best to request a mini loan, and if you need a substantial amount to buy a car, for example, you will have to take out another loan.

Borrow money to prevent costs

Because you borrow a relatively small amount of money with a mini loan, this form of loan is also extremely suitable for borrowing money to avoid costs. By this we mean if you can not pay an invoice which is due on time and you know that if you are there too late with the bailiff being engaged with all additional costs then it is cheaper in that case to borrow money with a minilening because then the costs are much lower.

If you take out a mini loan, you also have to keep a close eye on the term of the loan in question, if you are late in paying the mini loan, the lender will charge you a hefty fine and that will mean borrowing a small amount will cost you a lot of money.