A loan does not always have to be of a large size. It can happen that you just want to borrow a small amount quickly. For example, because you just need a small addition to your budget due to an unforeseen circumstance. However, the question then is how you should approach this. Moreover, it can sometimes be the case that the BKR plays a role in this. For example, if you have experienced payment arrears in the past. In such cases it is useful to know where you can turn for help with borrowing a small amount.
It is important to know what exactly is meant by a small amount. This is of course different for every person. When it comes to loans, it generally concerns amounts up to a maximum of fifteen hundred euros. Although most companies and lenders apply an amount of 1,000 euros as a maximum. Amounts of this kind are sometimes required to, for example, pay for a broken washing machine or a car defect. However, if you have already spent your budget for that month, it will be difficult. Borrowing a small amount can then offer a solution for this.
A big advantage of borrowing small amounts is that it is easy to arrange. Many providers of this type of mini credit simply do business with you online. You can leave your details via an application form, upload a number of important documents such as your ID card and the application can be started. This is then processed quickly, often within 24 hours. As a result, you immediately know whether borrowing a small amount is possible or not. After all, this is important if you need the money immediately. When an agreement follows, you often have the money within an hour.
The fast method is also chosen when it comes to paying off the loan. Because it concerns small amounts, it is possible to repay this very quickly. The term of the loan varies from two weeks to two months. For example, loans of one hundred euros are repaid within 15 days, but for eight hundred euros, for example, 45 days can be taken out. You therefore pay a certain amount of interest over this period to cover the costs. This percentage is often somewhat higher than with the long-term large loans, such as is the case with banks.
In principle you can take out a mini-loan as often as you like. This is another benefit. You can then determine whether you need it or not, depending on your situation. This is of course different from a revolving credit. After all, you always have this in principle. In that way you are always tied to the lender. Even at times when you have not taken out your credit. With a mini loan it is different. When you pay him off you are ready. You only have obligations again when you take out a new loan.