Month: February 2020

Have you taken out a mini loan? And later found out that the mini loan is not the best option for you? Then you can transfer a mini loan. The transfer of a mini loan is always without additional costs. If you repay the mini loan earlier, you will also pay slightly less in interest. It may therefore be wise to transfer a mini loan to a loan with a more “normal” term.
Because that is the major disadvantage of a mini loan. The very short duration.

Where can you transfer the mini loan?

If you want to transfer the mini loan to a loan with a regular term, there are various options. For example, instead of borrowing money with a mini loan, you can borrow money in the form of a revolving credit. Or a personal loan. You can also transfer the mini loan to acquaintances or friends. In any case, make sure that you start transferring on time. If you cannot repay the mini loan on time because you start transferring too late, you will usually have to pay considerable extra costs.

Do you want to transfer a mini loan? And the costs incurred?

If you take out a mini loan, you will soon notice that there can be quite a few additional costs. These additional costs can even amount to more than 25% of the amount you want to borrow. These are all costs that have to do with taking out your loan. If you are going to transfer the mini loan, you will unfortunately not get any more back. It is therefore important to check beforehand whether there are really no other options. A mini loan is and remains one of the few options if you want to borrow money without BKR testing.

Why transfer a mini loan?

You can of course have several reasons for this. One of the most likely reasons is the very limited term of the loan. You often have to repay a mini loan within 30 to 45 days. If you do not have this money at a certain time, it may be necessary to close the mini loan again in a “normal form of borrowing money”.

Applying for a mini loan is done quickly. Just “Google” the term mini loan and you will find several providers of the mini loans. The question is, what is the best provider? And which provider also has a cheap mini loan? That is the best question you can ask yourself before applying for a mini loan. Enough providers, but not comparing providers, may turn out to be expensive.

Where to apply for your mini loan?

To start with, it is of course best not to apply for a mini loan at all. A mini loan is not an advantageous form of borrowing money. But if borrowing money without BKR testing makes it possible, unfortunately almost the only form of borrowing money.

The best place to apply for your mini loan depends on your wishes. In any case, it is important to read the entire website of a provider before you start working with a provider.

There are quite a few providers that charge hefty costs. Try to clarify this in advance. Applying for a mini loan is fun, but taking out a cheap mini loan is much more important.

What does applying for a mini loan cost?

Applying for a mini loan costs you nothing besides some time. If you actually take out the mini loan, you will of course be charged costs. These costs can add up considerably. Only take out a mini loan if you really do not see any other options. The disadvantage with applying for a mini loan is that you often have to repay the mini loan within 30 and sometimes within 45 days.

Request alternatives for a mini loan

Applying for a mini loan is not the right way to borrow money cheaply. But sometimes there is no other way.  You can hardly take out a loan anywhere with a negative BKR registration, a mini loan can then be the only option.

The alternatives are therefore scarce. The first alternative is to borrow money from acquaintances or family. This is often the most economical way to take out a loan. In addition, especially when it comes to small amounts, this is often a quick way of borrowing money. You usually pay little to no interest. The disadvantage is that with the family you prefer not to “get naked with the buttocks”. Money is usually still a private matter.

The other alternatives are borrowing money in the form of a revolving credit or a personal loan from a bank or credit intermediary. Unfortunately, if you have a negative BKR registration, you have no chance of succeeding. You may still be able to contact the Infra Bank. They do test against the BKR, but in some cases can ignore the result of this test.

Crowdfunding is a fairly new form of borrowing money. With crowdfunding you borrow from other individuals or companies. In recent years, many crowdfunding platforms have been added where you can take out a loan at an affordable price. How can you get a loan with crowdfunding? What are the benefits of borrowing money? And is it beneficial to borrow money? We are happy to tell you more about that!

How can you apply for a crowdfunding loan?

Applying for a loan works the same as with “other” banks and credit intermediaries. You can fill in an application form and your loan will then be applied for immediately. There are various platforms where you can apply for a loan. But more and more new platforms have been developed.

Is borrowing money quickly crowdfunding?

If you want to borrow money quickly then a loan in this way may not be the right way. There are two reasons for this. First, the assessment process takes a little longer. If you apply for a loan from a bank or credit intermediary, you can usually know within a few minutes whether your loan is approved. With the crowdfunding loan you have to take into account a much longer assessment period.

The second reason why it can take (much) longer is because your loan has to be written “full”. Every investor only pays a small part of the loan you have requested. It can take days, and sometimes weeks, before your loan is written up. The amount will only be paid out to you when your loan is fully subscribed. So this is not really a quick way of borrowing money.

Crowdfunding and BKR assessment

In the past, this form of borrowing money was a form of borrowing money without BKR testing. It was therefore an opportunity to circumvent testing at the BKR. Nowadays this is no longer the case. Most providers of this credit form now test with the BKR themselves and register your loan with the BKR. This is to prevent overcrediting from taking place.