If you have received an unexpectedly high bill, want an advance on your wage or need some extra money, you can request a mini loan. It does not matter to the provider what you use this loan for and what you do with the money. The only thing that the lender looks at is the credit check. A characteristic of a mini loan is the short term. Most providers use a maximum durationof 30 days. At simulation loan.be you can make a simulation of this mini loan.
Why a mini loan
There are many conceivable situations where you just miss a little money, for example for an unexpected release or for something extra. It is therefore not important for the provider of the mini loan for what purpose you are applying for the loan. However, the providers do a credit check with every application. This check assesses whether it is justified to provide the loan. If this is the case, you can often see the credit on the same day. The biggest characteristic of a mini loan is the short term, which means it is also called a flash loan. You can determine the duration of a mini loan yourself and can vary between 7 and 30 days. You must take this into account, so that you can meet the payment obligation and thus pay off the credit amount within the specified period.
The simulation of a mini loan
You can enter the amount yourself when simulating a mini loan. Because it is a small loan with a short term, you can also opt for relatively small amounts. Most mini loans can be requested from € 50 to around € 1000. The maximum amount that you can request depends on your situation but also on the financial institution. After you have determined the amount, state the term. The duration can vary from 7 to 30 days. Much longer is usually not possible, because otherwise it can no longer be called a mini loan.
After the simulation
As stated above, the financial institution carries out a credit check after your application. It is then considered whether it is justified to provide the credit. You can always contact an institution specialist after you have made the simulation. That way you know exactly what your rights and obligations are with regard to the mini loan and this is tailor-made and adapted to your personal situation.