What is a mini loan and how can you apply for it?

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A mini loan, also called a flash loan, is simply a loan of less than € 1000, – with a short duration of an average of 20 days. For mini-loans you pay a maximum of 13.99% interest and administration / treatment costs. Especially young people who are in a bridging phase after their studies make use of this possibility. Because of this they will not get into trouble at the end of the month. You can close a fast loan very quickly without BKR testing, so you get the money immediately. However, you also have to pay it back quickly.

What exactly is a mini-loan?

In recent years, mini-exercises have become increasingly popular and that is not for nothing. Almost everyone can get it, even with a negative BKR test. With a mini loan you borrow an amount from € 50, – to € 1000, -, often to cover a short period to the next wage. The term is therefore very short, usually between 10 and 40 days. You have to repay the money relatively quickly. After applying for a mini loan, you will often receive the desired amount on your account the same day. Borrowing always costs money, in this case an interest rate of 13.99% and on top of that administration costs.


The only loan for which you hardly have to pay interest is the student loan, for the rest each loan costs a lot of money. The interest rate on loans with a long maturity and relatively high amounts is approximately 5%. With short loans it is a maximum of 13.99%, which is a considerable difference. In addition to the interest are administration costs and guarantee costs. Together, you have lost about 20% of your loan amount. If you borrow a respective € 200, you therefore only have to pay € 40, -. When you go towards the € 1000, – it becomes more annoying. So keep that in mind before you start lending. It is strongly recommended to only use flash loans in short-term financial distress.

Image result for mini loanConvenience & speed

It is very easy to close a mini-loan. The only conditions you have to meet are that you are 21 years of age or older, you do not have a benefit and you live in the Netherlands. For the rest, an internet connection and telephone is enough. Numerous websites offer flash loans that can be closed immediately. A provider that is known as very reliable is Ferratum. So if you want to take out a mini loan quickly, you can go here and you have the money on your account within a working day. There are no awkward procedures and the like waiting for you. The money is hidden through iDeal and if something goes wrong, customer service is always ready to solve the problem. Always make sure you borrow money from well-respected and reliable lenders who are registered with the Chamber of Commerce in the Netherlands.



Almost every loan is risky, because it simply is not yours and you have to pay back more than the borrowed money at a time. The risk of a flash loan is on the one hand very large as there is hardly a barrier to borrow money quickly. With a few presses of the button you have the money in your account, a short time later you serve a lot more than you borrowed had to pay back. Even if you are able to repay the loans, it is risky, because you lose a lot of money if you keep on flashing ‘time and again’. On the other hand, a mini-loan can also be a possibility. If, for example, you have no other choice and you can survive because of this, it is a good temporary solution. Moreover, the amounts you borrow are never mega high. So you do not run a risk of getting huge debt. Because the term is so short, you will soon be tickled if you do not pay the correct amount on time. This often goes in the form of fines. Before it really is too late you will be corrected. Much better than getting a report when you have more than € 10,000 in debt. Be aware of the risks, make an informed choice and let your emotions be sidelined.

Image result for mini loanClose miniature

As mentioned, taking out a mini loan is very simple and without BKR testing. BKR stands for Bureau Krediet Registratie and is an organization that prevents people from borrowing more than they can pay back. Apparently they do not think it is necessary to supervise mini-exercises. This is to your advantage, but be aware of the risks. To close a flash loan we go to saldodipje.nl in this example. You immediately get a screen with amounts that you can borrow. The minimum amount that you can borrow is € 100, – and the maximum € 1500, -. You can then choose a term that is between 15 and 62 days. By clicking on your desired amount and duration you can see the interest below. In all cases that is 13.99%. Do not forget that additional costs will be added. This is almost nowhere directly reported. Then you have to enter data, such as your telephone number, e-mail address, an ID document and choosing a guarantor. Your data will be protected by the new AVG Act that has been in effect since May 25, 2018, if it is properly protected. Then you can verify your bank account number and wait for your money! On working days almost anywhere within 24 hours on your account. That’s how simple that is. As an example, we gave saldodipje.nl, but many other websites where you can take out flash loans work similarly.

Image result for mini loanIn the news

Minibrafts have frequently been in the news in recent years because the AFM, the Dutch Financial Markets Authority, which supervises the financial markets, became involved. The independent authority considers the ease with which it can be borrowed in combination with the high amounts a danger for the customers. A number of measures that they have already taken are the maximum interest rate of 13.99% and the obligation to make clear that interest on their website. Companies that do not adhere to this risk a hefty fine, which has already been handed out a number of times. Foreign companies that offer flash loans still sometimes want to draw up ‘their own’ rules, without the AFM being able to keep an eye on them. Watch out when you want to take out a loan. Finally, the AFM threatened in 2017 with an advertising ban on providers of flash loans. Many media picked this up and smothered with headlines such as: “advertising ban on payday loans”. However, it never came to a strict ban with appropriate enforcement. Partly because it is legally difficult to estimate when a text is appealing or factual and because providers of flash credits bypass the rules by giving a foreign address to the KVK. As a result, they do not fall under the supervision of the AFM


Sometimes you can end up in a situation where you have to borrow a bit of money, such as a sudden bill or repair. In these cases, a mini-loan can offer a good outcome, because you do not need a BKR assessment and you can close it quickly online. Flash loans are less than € 1000, – euro with a short term, usually up to 45 days. However, these loans are expensive, you pay besides 13.99% interest also other costs such as administration costs. Together you quickly reach 20 to 30%. So keep that in mind. As with all other loans, miniature loans also contain the necessary risks, such as high fines if you do not pay back on time. Always look carefully at the conditions and make your own decisions. The AFM is trying to protect its citizens and find flash loans very risky.

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