Mini loan

Need quick credit?

There are various providers on the internet that borrow amounts from 100 to 1500 US dollars without BKR. An application for a mini loan can be made 24/7 and can be arranged for regular customers in a very short time. The mini loan is therefore also called flash credit.

Guarantee prohibited
In the summer of 2018, a Dutch court banned the guarantee with a mini-credit. The lawsuit was filed by a foreign lender who wanted money from someone with a mini loan. The judge then forbade the surety (see judgment ). Lenders of mini loans must comply with Dutch law. The interest on a credit may not exceed 15% and this also includes a guarantee. Of course, lenders of mini loans still ask for a guarantee, but in fact these are prohibited. However, if you do not pay the deposit (you are in your right), you will most likely not be able to take out a mini loan. An alternative may be another cheap loan.

Mini loan cheap?

A mini loan is no more expensive than if you buy something from a mail order company. Wehkamp also charges the legal maximum of 15% interest on an annual basis.
What makes a mini loan expensive are the possible surcharges, service costs and a possible guarantee. By default, the credit application is processed in a few working days and then paid out after a few days. If you do not want to wait a whole week, the application can be speeded up to a few hours. However, additional costs are charged for a quick settlement. A simple application without formalities? This costs extra money. If you want to have it deposited the same day, this again costs extra money. It is also possible that a lender requests a guarantee. If you do not have an acquaintance or family member to guarantee, the guarantee can be purchased. The costs for the guarantee can amount to substantial amounts. The extra costs make the mini loan quite expensive compared to a personal loan or revolving credit at a regular bank. The difference is that you can immediately borrow 1000 US dollars .

Short term mini loan

Keep in mind that when the term has ended you have to repay the entire credit + costs in one go. If you do not do this, you will quickly receive reminders that cost money. Default interest and additional collection costs can also be charged. A mini loan therefore gives DIRECT credit, but you must be sure that you can repay the credit.

Can I get a mini loan?

To be eligible for a mini loan, you generally need to have income with a minimum of 900 US dollars net. You have a Dutch ID and you are of age. In principle, a negative BKR listing is not a problem because the lenders do the assessment themselves. This is allowed because the companies operate from Malta and England and therefore an assessment with the Credit Registration Office is not mandatory.

LendNow & Balance dip

LendNow UK Ltd is based in Liverpool, England. Another provider of mini loans is Balance Dip, which is part of LendNow UK Ltd.
If you take out a mini loan with LendNow, you pay 14% interest (in April 2015). Loans of US $ 100-200-300 have a term of 15 days or 30 days. Loans of 300-400-500 US dollars must be repaid in 30 days. The mini-loans of 500-600-700-800 US dollar must be paid after 45 days at the latest. A guarantee is mandatory at LendNow. If you know someone who wants to financially guarantee your mini loan, there is little to worry about and you simply pay the interest. If you do not have anyone who wants to provide a personal deposit (with signature), you must buy the deposit.

Buy a security deposit at LendNow

The guarantee is a mandatory part of LendNow. The company that provides the guarantee is Global Guarantee and this is based in Estonia. What you have to pay in security costs depends on the amount of the mini loan and the term. For a mini loan of 100 US dollars and a term of 15 days you pay 24 US dollars in security. The highest costs for a guarantee with a mini loan is 800 US dollars with a term of 45 days: the costs are 255 US dollars. With a closed mini loan you will receive two bills by email at LendNow. An account from LendNow for the loan amount and interest and another account from Global Guarantee to guarantee the loan.


Cashper is a well-known provider of mini credits in the Netherlands. The company holds a banking license from the Malta Financial Services Authority (MFSA). A security deposit is not necessary with Cashper and this already saves a lot of costs. Nevertheless, Cashper naturally also wants to earn something from the mini loan. This is done by offering customers a quick and easy application for various surcharges. If you opt for the regular application, it will take a week before the money is in your bank account and a fully completed application must be submitted. The customer also has the choice to choose a service bundle. With a service bundle, the request is handled immediately without much hassle. People with a negative BKR rating are therefore also eligible for a mini credit. Cashper's own credit check assesses the risk of the requested loan. If approved, the mini credit will be transferred within a few hours. The costs for such a quick application are 20-25% of the mini loan.