There are more and more loan forms on the market. Take the mini loan, for example. This is a form that is especially useful if you need some extra money quickly. In fact, it is a kind of intermediate form between a personal loan and a revolving credit. You often use it for a quick direct release, but it has a fixed duration and a fixed repayment amount. Yet this is an easy way to quickly have a small extra amount available to you. Moreover, you will get rid of it after a short duration.
The big advantage of mini loans is that they are small amounts. Both for personal loans and for revolving credit, the starting amount is 2,500 euros. If you need less, you will have a problem. You either have to borrow more against your will or you have to wait longer with your investment. A mini loan involves amounts that are somewhere between 100 and 1,500 euros. Because it concerns such small amounts, it is often made directly available to you by the lender.
Shut it down
You take out a mini loan with a lender. There are only a few of them in the Netherlands. This is because most companies deal with the larger loans. It is true that closing can often be done entirely online. Because the amount is so small, the various checks often do not have to be carried out. After all, this only takes unnecessary time. By filling in a number of questions online and forwarding documents you can quickly know whether the loan is possible or not. Sometimes you already know the same day and you have the money a day later.
Why a mini loan
You may wonder why you should go for a mini loan. After all, you can also borrow the money from an acquaintance or family member. Nevertheless, there are a number of advantages to borrowing small amounts. For example, you do not have a deeper relationship with the lender. This also means that you do not have to give account or something like that. Moreover, you will get rid of it quickly. You often repay everything after one week to a maximum of eight weeks. That way you can get rid of your debt quickly without any further consequences.
And why not?
A small disadvantage of the mini loan is that the costs are often somewhat higher than with normal loans or than with borrowing someone you know. After all, the interest is slightly higher. However, this is only relative. You also borrow a smaller amount for a shorter period of time, so you won’t lose hundreds or thousands of euros extra. Yet it is something to be reckoned with. Moreover, you can easily fall into the trap. Borrowing small amounts is often very easy. This can sometimes lead to laziness, so that you end up in debt. Pay close attention to this.