If you have received an unexpectedly high bill, you want an advance on your salary or need some extra money, you can apply for a mini-loan. It is not important to the provider what you use this loan for and what you do with the money. The only thing that the provider of the credit looks at is the credit check. A characteristic of a mini loan is the short term. Most providers have a maximum term of 30 days. You can make a simulation of this mini loan at coregroupinstall.com.
Why a mini loan
There are many situations imaginable where you just miss a little money, for example for an unexpected expense or for something extra. It is therefore not important for the provider of the mini-loan for which purpose you apply for the loan. The providers do, however, perform a credit check for each application. During this check, it is assessed whether it is responsible to provide the loan. If this is the case, you can often look forward to the credit the same day. The biggest characteristic of a mini loan is the short term, which is why it is also called a flash loan. You can determine the term 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 set term.
The simulation of a mini loan
You can enter the amount yourself in the simulation of 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 US dollars to about 1000 US dollars. The maximum amount that you can request depends on your situation, but also on the financial institution. After you have determined the amount, you indicate the term. The term 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 will perform a credit check after your application. It is then checked whether it is justified to provide the credit. You can always contact a specialist of the institution after you have made the simulation. That way you know exactly what your rights and obligations are of the mini loan and it is tailor-made and adapted to your personal situation.