What is a mini loan

We have talked about the mini loan on this site before. This is because it is not only a popular form of borrowing, but also because there are many advantages to this loan. Not only can you often borrow interest-free with a mini loan, but in some cases it is even possible to borrow completely for free!

What is the mini loan?

This loan is, just like the other forms of borrowing that we have already discussed on this site, such as borrowing money without interest, the personal loan and the revolving credit, a popular way to borrow money. A mini loan is often very easy to request and you will hear very quickly whether you have been allocated the credit or not. If the mini loan has been approved, you often have the money in your account within 20 minutes! Because you can access the money so quickly at a very low cost (or even for free!), It has become a very popular form of borrowing.

There is quite a difference between the mini-loans between Belgium and the Netherlands . In the Netherlands it is generally a bit cheaper. For example, you can borrow for free in the Netherlands if you have a personal guarantee. This is not possible in Belgium. In Belgium at Payday, for example, you can also borrow relatively cheaply, but there are costs involved. These costs often depend on the period in which you pay back. For example, at the time of writing, a 15-day mini loan will cost you 2 US dollars. For 30 days you have to pay 4 US dollars. Before taking out a loan, always look at the costs applicable at that time and the conditions attached to these loans.

Where can I take out a mini loan?

You can take out a mini loan in many places. On this page and on other pages of this site we have already discussed a few things about these parties and that is why we will keep it a bit shorter than you may be used to from us. We will now only discuss 1 loan provider per country.

Netherlands: LendNow
LendNow is a mini-loan provider that you have probably come across on our site before. This because it is our favorite. We recommend this site because the website is very simple and clear. For example, you can indicate on the website exactly what amount you want to borrow and for what period. You will immediately see what the costs will be and what is expected of you. Everything is nice and easy to arrange online and you will soon hear whether you will be awarded the mini loan or not. The money is also deposited very quickly here, you often have the money in your account within 20 minutes !

Belgium: Payday
Payday is a very large international party. The website of is almost identical to LendNow in terms of functionality. However, the biggest difference is in the costs. For example, a 15-day loan currently costs 2 US dollars and a 30-day loan costs 4 US dollars. For the rest, it is all very easy and fast to arrange online and you will receive your money quickly.

As you can see, the mini loan is a very attractive form of borrowing. Always check the site of the mini-loan provider for the conditions and costs.