The application procedure for a Mini Loan

What is a mini loan?

A mini loan is a short-term loan that can be concluded quickly. The amount to be borrowed is up to $ 1,000.00 depending on the provider. You quickly have some extra money without any hassle. Handy as an advance on your salary or when the washing machine breaks down unexpectedly.

A mini loan is also called a short-term loan . The application time is therefore very short, often you have extra money within an hour. A copy of proof of identity, a pay slip and a bank statement are requested with the application. A BKR assessment is not done, because it is not a normal loan. However, a guarantee is requested. If you are unable to provide this, it is possible to purchase insurance instead. There are additional costs involved.

A mini loan is not a normal loan. Small loan providers do not charge interest. Instead, they charge a handling fee or administration fee. The law does not set a maximum amount for this. These costs are often higher than the interest on a comparable regular loan. Against this disadvantage is the ease with which a mini loan can be taken out. When taking out a regular loan, you will only have the money after three days.

A small loan has a short term and is repaid between 10 and 30 days. When taking out the mini loan you agree to the repayment term. If you are unable to repay the mini loan within this period, a fine will be charged. These costs can add up considerably.

What do you need?

To take out a mini loan , you must be resident in the Netherlands and at least 21 years old. You also need copies of a number of documents to apply for a mini loan. With most providers, this concerns:

  • A copy of your ID, such as passport and driver's license
  • A copy of a pay slip
  • A copy of a recent bank statement

The lender may request additional documents for the guarantee. Have you specified a person who will act as guarantor for you? Then a copy of the identity document and a copy of a pay slip from this person will also be requested.

Enter the requested information on the provider's website. The documents are usually submitted by e-mail. Often it can also be done by fax and post. When sending by post it naturally takes longer before you can dispose of your money.

Your creditworthiness will then be assessed on the basis of the copies you send. A BKR test is not done and your loan is not registered with the BKR. So you can also take out a mini loan with a BKR registration. If your application has been approved, the amount will be transferred to your bank account by the lender with an urgent transfer. With some providers this transfer takes a day.

Pay back the loan amount within the agreed term. If you are not able to pay the amount on time, you will be charged and these can quickly add up.


The number of providers of a mini loan in the Netherlands is limited. After the Consumer Credit Directive came into effect on 1 June 2011, a number of providers of mini-loans stopped. There are currently two lenders active in this field in the Netherlands. It's about LendNow and Cashper.

LendNow is the European market leader in the provision of mini credits. This company is based in London and is therefore not subject to Dutch law. At LendNow you can borrow an amount between $ 100 and $ 800 for a period of 15, 30 or 45 days. A guarantee is required, where you can opt for a personal guarantee or insurance.

Apply for a short-term loan and directly into your account.

Here you can apply for a short-term loan and the money will be deposited into your account within 10 minutes after an SMS. It can hardly be faster.

Your child's birthday is getting closer, but just like in previous years, you just don't have enough money to make it fun. Your child hopes that you have a present, but is now also used to it becoming nothing special and you hope that he understands that, as always, you just have no money. Or is there still something to do so that you can finally give your child a party and a nice gift?

You do not have to deny yourself or others anything if you are short of cash, but at the same time you are registered with a provider of mini loans. Money in your account within 10 minutes when you send that one text message again in which you specify how much money you want to borrow and into which account it should be deposited.

By simply registering yourself via the internet, copying some papers and emailing you have already completed the application. After that, 1 text message is enough for the provider of a Short loan to deposit the money directly into your account.

Short-term loan by SMS

Do you want to borrow money with one text message and receive it directly on your account? Something like that is called a mini loan and you can take it out here. Read more.

It is no problem at all to take out a Short loan . Mini loans are the easiest loans and everyone is eligible for it. You must be able to text messages because you can use this to request payment of the loan amount.

It is very simple, you submit an application on the website of the financier. They'll text you a request to email a few copies. After you have done that and your short loan has been approved, you can send an SMS message with a request for payment at any time you want. This happens immediately after you have sent the SMS. As a result, the money will be in your account within 10 minutes.

You pay the money back within a maximum of 30 days. This is usually after you have received your salary or you have obtained money in another way. From that moment on you can immediately submit an application again and even borrow more than the first time if you would like to.

The maximum loan amount is 750 US dollars with a short-term loan, which means that you have 750 US dollars at your disposal, with 1 text message at any time you want. Easy is not it? Borrow that money by SMS ?