Fast Mini Loan Credit Bureau Review

Mini Loan directly Borrow money Credit Bureau Registration

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What is a Flash Loan or Mini Loan?

A payday loan is a loan with a relatively low loan sum. The term of the loan is very short. The loan must be repaid within three months at the latest. With a payday loan, SMS Credit or mini loan, the loan is only a few dozen to a few hundred euros. A payday loan, SMS credit or mini loan have also been supervised by the AFM since May 2011. It must therefore be tested whether the loan can be provided responsibly. A maximum of 15% (= maximum interest rate) may be charged for this loan. A Credit Bureau Test must also be taken.

FlitsKrediet and AFM

Loans with a term of less than three months now also fall under the AFM regulations. As a result, companies that offer a Mini Loan, Flash Credit or SMS Credit must also have an AFM license. The costs of the credit offered must also meet the set requirements. For example, the maximum legal interest rate applies to these loans .
Note: The AFM previously established that not all providers of these short-term loans adhere to the new regulations. A number of providers acted without a license and charged very high rates. Because a number of providers of short-term credit do not comply with legislation and regulations, they are the only alternative for consumers who cannot obtain a loan anywhere else. As a result, these providers mainly serve a vulnerable group of consumers.

Advice on Mini Loan

The AFM advises consumers to only purchase a Mini Loan , Flash Credit or SMS Credit from companies that are in possession of the correct permits. Go certainly not be asked in an offer to borrow money which exceed the permitted statutory rate of 15%. You can also check yourself whether a credit provider has the correct permits. The AFM provides insight into this. Before taking out a loan , you can check whether a provider has the correct permits in the AFM Register of Credit Permits .

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