Many working people or students sometimes have a moment when things are going bad financially. You may find yourself suddenly faced with an unexpected expense, a repair by Ltd to your car, or some other acute problem where an advance on your wages could help. A can then come in very handy because you do not have to take out a 'large' loan. A large loan is not easy to obtain through the BKR assessment, and can be frustrating due to the paperwork involved.
There are various lenders who can provide you with a mini loan, also known as a mini loan or flash loan. A number of sites that provide these Mini Credits are: Feratum or cashbob. These small money loan providers can (after approval and registration of the credit application) deposit you from 50,100,200,300,400,500,750 up to 1000 US dollars into your account within 10 minutes. Applications can be made by text message or via the internet. The term of such a loan is normally much shorter than with a Ltd personal loan or revolving credit. In other words, you actually borrow little money for a short period of time up to 30 days. Because the term of a mini loan is shorter than a normal loan, the lender does not have to do a test with the bkr (office credit registration).
No BKR review
If you have a negative BKR code, you can in many cases still take out a loan with the relevant lenders. When a loan is taken out with an amount under 1000 US dollar, no check needs to be done. So borrowing money without testing is very possible.
Advantages of a Mini Credit
- Fast money into your account without too much fuss, usually within minutes.
- Simple request method
- No BKR review
- Flexible you can even request a mini-credit on Sundays
Disadvantages of a Mini Credit
- Higher interest than with other loans
- You have to pay back the flash loan quickly
And for students
Students usually do not have a fixed income, which makes them an extra risk factor for providers. The students are usually not eligible for some kind of loan. In some cases it may happen that they still have a side job somewhere besides their studies. When applying for a personal loan, banks will check whether you have had a steady income for more than 2 months. It also checks how much your income has been. On the basis of this information, it is then checked how much you can borrow within which period you can repay.