A mini loan is a small loan from a low amount, often under a thousand USD. You usually pay back a mini loan within a month. The costs of this popular loan are relatively high, but the mini loan is easy to take out. You usually do not need a lot of income to get a mini loan and you do not really have to send any supporting documents to get the loan.
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The online loan for bad credit from Purplepaydayloans is a favorite loan for people who have bad credit and want to borrow money quickly, for example, to quickly pay an overdue bill or because the money has run out and they still want to eat. It is mainly people who are in debt and have been in the red for too long. Many people who take out this loan do not leave this at once but often do it 3 times.
Sometimes people also use the loan to quickly buy something that has broken into the house or to buy something while they do not have the money yet. However, there are fewer people who use the loan to buy something new than people who use the loan for arrears or just to make ends meet “until the end of the month”.
However, the loan is not cheap. Often many people do not realize how much they really have to pay back after 2 or 4 weeks. Especially if people borrow money because they are already in debt, this loan is not a smart choice. The loan often leads to higher debts. It is therefore not advisable to take out a mini loan.
Mini loan without a credit
The mini loan is also popular because most lenders do not do a credit check at the BKR. It is, therefore, a form of borrowing money without BKR. This makes a mini loan an easy loan to apply for. Like the mini loan without paperwork, the mini loan without a credit card is a very popular form of credit.
There are not many providers of mini-loan without BKR in the Netherlands. There were some more, but since a new law from 2011 and enforcement of the law, there have been far fewer mini-loan providers. There are only two real providers who both operate from abroad. One from Malta, and the other from England.
Apply for a mini loan
Requesting a mini loan usually takes no more than 5 minutes and is free of obligation. Sometimes you will receive an e-mail with a request for additional information. Applying is free of obligation, but the loan is tempting. Pay close attention to what you start with and be aware of the costs and risks of the mini loan.