Since the banks have properly tightened their thumb when it comes to granting loans, many other lenders have emerged. One of the most striking phenomena is that people nowadays borrow money via SMS. A growing number of providers are granting small credits (also known as mini credits or flash loans ) to applicants after just a few text messages . Many of these settings can be found on the internet. See for an observation

How to qualify for a loan by SMS

How to qualify for a loan by SMS

At the end of the month, many Dutch people are short of money. Especially during the holidays it appears that there are still a lot of people who want to borrow a few hundred USD quickly. There are several options for borrowing quickly. If you are looking for a mini loan of, for example, 500 USD, it is wise to check which interest rates are charged. These vary from 14% to 40%. Borrowing money via text message is quite expensive, but you will have it quickly once you have completed the application.

There are mini-loan providers such as Ferratum (the first in the Netherlands). You can borrow money from 100 USD. The conditions are that you have a fixed income and are at least 21 years old. According to studies, it is mainly men between 25 and 35 who go for this mini loan. It is arranged quickly and within a day you have money in the bank after approval. The demands that the lenders make on the applications are usually very modest. As soon as a person is commercially qualified and is a permanent resident of the Netherlands, he is quickly eligible.

Apply for a small loan now.

Can you apply for a small loan now? Yes you can borrow quickly and have this money in your account within a few hours. Handy of course if you can dispose of it immediately. So borrow on the day itself and not before! In addition to the fact that you do not have to pay any extra costs, you must settle this amount within 30 days. Banks impose a sanction on you if you do not comply with the agreements.

So if you are not sure about this, then it would be better to ask a family member if they can advance this amount. The advantage of this is that you often do not have to pay interest if you are a little late in paying back. This is the case with banks.

So if you want to apply for a small loan without interest, you can go to many agencies online. They will gladly help you. So now borrowing quickly is an option, but borrowing more can even go up to 500 USD and with some lenders even up to 750 USD is also possible. So if you borrow more often and have always repaid everything properly within the agreed time, you build up your credibility. This means that you can borrow a higher amount the second or even third time.

No registration is required for loans up to a thousand USD. Many providers of these small loans will not register you there either if you borrow money, especially if you only borrow 100 USD.

What are the pros and cons of borrowing money by SMS?

What are the pros and cons of borrowing money by SMS?

Borrowing by SMS is quick and easy. Yet there are a number of important issues that an applicant must take into account before concluding a loan in this way. For example, the loans are usually on the expensive side. An interest rate of 20 percent is no exception. The repayment period is often very short and the penalties for late payment are high. It is certainly worthwhile to have the patience to go through the borrowing conditions at the various providers and compare them extensively.

Do you want to borrow more than 1000 USD now?

At the moment, the banks are not ready to lend someone a money loan. The TV guide used to be full of commercials about borrowing money, but those days are over. The lenders no longer have any money themselves or have difficulty borrowing money from the banks. At the moment you can easily borrow a loan of a maximum of 1000 USD in the Netherlands. you can even get such a small loan from as little as 100 USD! You do need a steady job with a net income of 1,000 USD and you are at least 21 years old.

In such a case you can immediately get a loan from Ferratum, for example. These companies specialize in borrowing money without BKR review. There are some disadvantages to a loan without a BKR. They are simply expensive! You must have fully repaid the small loan up to 1000 USD in a maximum of 30 days. The providers of loans take enormous risks by not conducting a BKR check and paying the urgent transfers. A small loan of up to 1000 USD has already been arranged and transferred to your account in one day. If you have a month left at the end of your money, a mini-loan as described above is a solution, but don’t make it a habit. Of course, the providers of mini-loans want you to borrow every month, but do it carefully.