Different names are used for small loans. There are mini-loans, microcredit, flash credit and a few others. The characteristic of this type of loans is that you can get money quickly. The conditions are less strict than with other loan forms.
What is a microcredit?
The name says it all. This is a small loan. This applies to both the amount and the term. The duration of such a loan is usually no more than 62 days. Moreover, the amount does not exceed € 1,500.
Borrow without BKR
When applying for a microcredit, no BKR check is performed. An assessment at the BKR is usually done to assess your financial situation. This involves looking at all loans that are registered with the BKR. And more importantly, your payment behavior is also looked at and whether your arrears have or have had repayment arrears.
You may think I have no loans, so the BKR also has no data from me. However, do not forget that your mobile phone subscription, for example, if you have a telephone subscription, also contains a piece of credit. You are, as it were, buying your phone on installment. This may also apply to other items that you have purchased on installment, such as a car.
If this is the case then there is a negative BKR registration, then lenders are very keen on this. With a negative BKR registration, many options for borrowing money are not possible. You are then seen as too great a risk to borrow money. This can be very annoying. Moreover, it is not too easy to get rid of a negative BKR registration. Even if it was a temporary situation and the current situation is completely different.
A negative BKR can arise due to accrued payment arrears or a large number of loans that you have outstanding.
Microcredit and target group
Starting entrepreneurs, and in particular small and medium-sized businesses, make use of micro-credit. This is because they often do not yet meet the conditions for applying for a different type of loan. These loans are also provided to entrepreneurs in developing countries or to other people in developing countries. For example, children can go to school that way.
Individuals in the Netherlands
Private individuals in the Netherlands can also apply for a microcredit. This is possible at companies such as Dapodle and Merratu. They specialize in providing small and short-term loans without BKR testing. You can often have money in your account within 24 hours. Of course only if your application is approved. If you need money quickly, this type of mini loan can be a solution.
Features of a microcredit
The characteristics of a microcredit are as follows:
- A short duration of up to 62 days
- Borrow an amount of up to € 1,500
- A guarantee for reimbursement.
- A relatively high interest rate
How does an application work?
On the websites of a provider of mini loans such as the aforementioned companies Dapodle and Merratu you can easily submit an online application. After receiving the request you will be kept informed of the status of your request by e-mail. If everything goes well then you will receive an answer fairly quickly. In that case you can even have money in your account within 24 hours.
Of course you must repay the borrowed money within the term of the loan. If you do not comply with this, the lender will contact the guarantor to get back the loan amount. This is something to remember before you take out a loan.