Mini credit has become increasingly popular in recent years. Since the 2010s there have even been providers that specifically only broker this type of loan. This little guide is about general information about mini loans.
Since around the beginning of the 2010s there have been special providers that only provide mini loans. But what exactly is a mini loan? Who needs it and what conditions have to be met if you want to take one in?
The mini loan – that’s what makes it
The providers promise money immediately, money that can be paid out in the shortest possible time. There are providers who can transfer the money to their own account within 30 minutes (provided the specific conditions are met: on working days, completed by 12 noon, eg).
The current idea behind the mini loan, however, lies on the word “mini”. So one speaks of loans that are limited to a maximum of 1,000 dollars. The term is also severely limited. Normal loans are usually taken out between 12 and 60 months, while mini loans are repaid after 30 – 60 days.
The real idea is to bridge financial bottlenecks and smaller sums. If, for example, 500 dollars are needed, you can get them quickly and pay them back directly next month.
Compare mini loan providers
Here is the mini loan comparison. The abundance of providers is not nearly as high, but the offers and interest differ, so a comparison should definitely be carried out.
The comparison clearly shows which different interest rates the providers offer, which options are available and on what terms.
Using Google Trend, you can pretty well illustrate how high the importance has increased in recent years.
It can be clearly seen how the search queries have been increasing since the beginning of 2010. The demand for a short-term financial bridging will therefore continue to increase. But why is that?
Increased consumption of electronics, cell phones, televisions, cars and everyday objects lead to less and less money in the account. Affirmed by advertising 0% financing from various companies lead to financial emergencies.
The importance of saving money has increased massively in recent years, so that it is preferred to spend it and no reserves are formed.