What is a mini-credit or an online microcredit? Discover it

The mini-credit is a financing solution for people with a small need for money or a small project to start. This financial product is ideal to deal with unforeseen expenses or to finance a project. More and more people excluded from conventional bank loans opt for this financial product. For all these reasons, today in this article I will tell you more about the concept of this means of financing.

But if you already know and want to get one right now, you can find it in our mini – credits section of our page. It is always good to have all the knowledge that helps you solve a possible urgency of money in the fastest way.

What is a mini-credit?

Mini-credit or micro-credit is a financing solution for borrowers who want to borrow small amounts of money. It is primarily intended for borrowers who do not obtain a bank loan.

A real alternative, since this recognized financial product has almost always been offered to candidates of consumer loans who do not have the confidence of traditional banks to obtain the financing they need.

In this context, mini-credit appears as a real alternative to this type of financing insofar as its interest rate is much more attractive.

Quick and easy to obtain

The Minicredit can also be a real alternative to the open bank (authorized or not) in case of urgent need for money. The advantage of this type of loan lies in the steps that must be followed, since they are easier compared to conventional loans of a lifetime.

Do you know what a mini-loan is and what are its advantages and dangers? Today we tell you in detail so you know when you should request it. 

Who can apply?

Young employees or part-time retirees with low income, unemployed, students, retirees, beneficiaries of property rental, among others, are the main objectives of the companies that offer mini-credit. As a result, anyone with at least 18 years of age and living in Spain with an average income of approximately 700 euros, can obtain this type of financing.

The mini loan is also for people excluded from traditional financing due to low income, a precarious financial situation or the lack of a guarantee. People who earn too much, but not enough to finish the month calmly can also claim this type of financing.

Why a mini-credit?

In general, a loan application involves a long process that requires the creation of a file that includes:

  • Income
  • Account statements
  • Proof of address
  • Or a work contract

However, this file, which demonstrates the financial stability and the ability of the applicant to pay with the credit institution, has become complex to establish. In particular due to the economic and social situation. As a result, mini-credit has become an alternative for many borrowers who want to obtain financing quickly. Very different from the existing loans, since with the mini-credit you can borrow up to 1,000 euros, (many of them € 300 for the first time). And it requires providing a minimum documentation to prove your identity and to testify your financial situation.

Advantages of requesting a mini-credit on the Internet

The increase of new technologies has allowed, nowadays, to have the opportunity to apply for a credit through Internet. A service that allows you to have a certain amount of money for whatever you want, be it on a trip, to start a small business, solve an unexpected or buy an appliance, for example.

And all from the comfort of your home, using only your computer, a tablet or a smartphone with a network connection. But these are not the only advantages of requesting a mini-credit online, since this new practice offers many other benefits.

Such as:

Its process is quite simple

When hiring this financial service, its procedure is much simpler than a typical conventional loan. You just have to fill in a form with your personal and banking information. Some lenders will ask you to send some papers, such as a DNI copy. However, others have adapted a system that is responsible for verifying all your data without much paperwork.

They can be requested at any time and in any place

At present you can request a small amount of money whenever you want and from anywhere. So you can request it if you want from the armchair of your house, as long as you have a computer with Internet access, a tablet or a mobile phone. For what it offers you comfort, since you do not have to leave home and make long lines, as in your traditional bank.

Granting money in a few minutes

More and more lenders are granting mini-credits in just a few minutes, once the user enters the data and the amount they wish to receive. What allows to have the money in a record time. Without having to wait too long and be able to have the money in the bank account. So you can solve your economic urgency quickly.

You always know what you are going to pay

Through the calculator that is on the website of the lender in which you will request the small loan. You can see at all times how much you are going to pay for the money requested in the time of reimbursement. So you will avoid any additional surprises.

You do not have to justify the purpose of the mini-credit

You do not have to explain why you need the small credit money. You just have to fill in the information requested in the form, which is usually personal to identify your identity And the number of your account to enter the money.

Are you struggling with an urgent need for money?

¿Estás luchando con una necesidad urgente de dinero?

It is possible that you can get the money you need through online mini-credits. You just have to fill out an application and receive the amount you have requested in just a few minutes. Until recently, we never would have thought this was possible! However, today it is easier to solve a money problem quickly.

The mini-credit can provide you from 50 euros to 1,000 euros, most lenders require that the amount be returned within a maximum period of 30 days. But, there are many others that give you a longer repayment term of up to 4 months. Do not hesitate and take a look at all the products that we have at your disposal through our comparators that are at the top of the page.

And to finish…

Obtaining a mini-credit quickly without providing a large number of supporting documents seems to be the main asset of this type of financing. In addition to the convenience of being able to request it from the comfort of your home. This financing can be obtained by an unemployed applicant to the extent that he can demonstrate a regular cash flow (around 700 euros).

Mini-credit can be considered as a set of financial products and services for people excluded from traditional banking channels. People who have an eventual economic need and who require speed to be able to solve it. So it can be considered a financial solution.

I hope this article is useful for you and has given you this financial product, which may be of great help at any given time.