A relatively new form of credit in Europe is the so-called mini loan from Loanrider . LoanRider's services and processes are fully compliant with EU credit legislation and is a trademark of Palden Finance OÜ Lietvuos filialas based in Vilnius, Lithuania. Palden Finance OÜ has a full entry on the list of public lenders issued by Lietuvos Bankas, the central bank of Lithuania. With the loan you borrow an amount of 100 to 1000 US dollars on flexible conditions for a short term. With a Loanrider loan, no BKR registration is used, which makes this loan form very suitable for quickly borrowing a nice amount. But how does this mini loan actually work, and what are the pros and cons of such a credit?
Fast money into your account with LoanRider.
With a mini loan you quickly have a nice amount of money in your account and as a LoanRider customer you pull the strings yourself! It is often a matter of ten minutes to fill in some information and the money is transferred to your account. Before you receive the money, you need to fill in some details and prove that you earn at least 1200 US dollars per month. In this way, the risks can be limited with a mini loan. It is also important that there are no hidden costs and no fines as long as everything is paid back on time. They are completely transparent, but you only pay an annual interest of 13.99%.
Repay the mini loan at LoanRider.
A mini loan is very flexible: you can repay the money at any time without having to pay a fine. If you repay earlier, they automatically calculate the interest component until the moment of repayment. The period in which the amount must be repaid is often very short and is around a month. A disadvantage of this loan is the fact that the interest rate is very high. This percentage quickly rises to about ten percent.
The mini loan is therefore a nice form of credit for people who quickly need a reasonable amount. After all, it is a matter of applying and the money is in the account. It is important that you read the conditions carefully and pay off the loans on time, otherwise it can become an expensive joke! To request a loan from Loanrider , first fill in your personal and financial details. Filling in the application takes less than 5 minutes.