If you want to borrow money immediately, it can easily be arranged with a flash loan or mini loan. The name actually indicates it: in a flash you have the money in your bank account. This does not concern large amounts, but a maximum of a few hundred USD.
Very quick and easy and also immediately available. An additional big advantage of a flash loan is that there is no BKR review and no BKR registration. The reason for this is that it concerns small amounts, up to a maximum of 1000 USD, and short durations, namely less than 3 months. All loans larger than 1000 USD and with a term longer than 3 months must be registered with the BKR in Tiel.
A mini loan for mini credit
This form of borrowing money is done via a text message. For this you send an SMS to the lender requesting to be able to borrow a small amount and you will immediately receive an SMS with the conditions for the loan. Always first read the conditions carefully and then press agree.
You then transfer the money to your account within 10 minutes. It is called a mini loan because it concerns small amounts with a short duration. They are therefore not large amounts and it is not a term of 30 years as with a mortgage. No, this is exactly the opposite, but very handy if you just need a little more money.
When do you take out a flash loan?
In most cases, a flash loan is taken out in situations with an unexpected bill for, for example, repairs to a car or a GSM subscription, which unexpectedly turns out to be more expensive. But also with other financial setbacks, if you just have no money, want to make a spontaneous purchase or want to socialize an evening with friends and you are short of money.
It doesn’t really matter what the reason is, you can take out a flash loan at any time of the day, whenever you want. But, again, it is always good that you should be able to pay the bill back on time.
When do you have to pay back?
Most providers use a clear term of, for example, 21 or 45 days. The entire amount including costs must be repaid within that number of days. Earlier is of course also possible. So this really concerns small amounts that you need for a very short time.
Whatever happens, always make sure that you pay back on time, because otherwise the chance of a possible next flash loan is also very small and you lose the possibility to borrow money without BKR and that is of course not the intention . If you always pay back your loans on time, you can always borrow money easily and quickly if necessary.