A mini-loan calculator is by definition a small loan simulator that is provided by a lender through a calculation tool that allows the borrower to calculate different options of repayment of a small sized cash loan.
The mini-loan calculator is mathematical tool that calculates different financial constellations to the borrower who wants to figure out what happens to the monthly repayment if for example he or she opts for a longer repayment period or if he applies different interest rates.
A small loan simulator is always suggested in case the borrower is not certain about the repayment plan when using different mini-loan amounts, repayment plans and interest rates and fees as well as other assumptions.
The mini-loan calculator is a useful tool to be exploited to take a decision about a small loan option, however borrowers should use more than one small cash loan calculator being provided by lenders and brokers that are not always objective.
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