Nowadays there are many options for taking out a mini loan (also called flash loan) online or with an email and borrowing a small amount.

The mini-credit can only be taken out for relatively small amounts and must be repaid within a short period of time. Because of this relatively short term, a mini-credit is not covered by the strict legislation for financial products and no Credit Bureau check is carried out.

Mini loans are taken out with high interest rates and sometimes high extra costs (administration and handling costs). Relatively large fines are also charged when the loan amount is not repaid on time. Compared to the “overdraft” at the bank, the mini credit is a very expensive form of loan. Interest rates are often around 15%, but due to the short term of the loan, the interest costs are often only a few euros.
Mini credits are usually taken out if one needs money or an advance “now ”.