In the Netherlands, a mini-loan in 2024 is by definition a small, short-term loan typically used to cover urgent or unexpected expenses, also known as a "flitskrediet", this loan is generally for small amounts, often ranging from a few hundred to a few thousand euros, and is designed to be repaid within a short period, usually between 15 to 30 days or sometimes up to a few months.

In the Netherlands, the mini-loan has the primary purpose to provide immediate financial relief for small-scale, short-term funding needs which can include covering an unexpected bill, an emergency repair, or any unforeseen expenditure that requires prompt payment.

In the Netherlands, the role of a small loan is important for the financial ecosystem, as it offers an alternative financial solution for Dutch borrowers who may not have access to conventional credit due to poor credit history, lack of collateral, or the need for a smaller loan amount that traditional financial institutions may not offer.

In the Netherlands, the mini-loan has objective that is twofold, firstly, it aims to assist individuals in managing short-term financial gaps without the need to commit to long-term debt obligations and secondly, it helps to foster financial inclusivity by providing credit services to a wider demographic that may be underserved by traditional banking sectors.

In the Netherlands, the small loan in 2024, however, due to its high interest rates and fees, it should be approached with caution and borrowers should ensure they have the means to repay the loan within the agreed-upon time frame to avoid falling into a cycle of debt.

Which lenders are offering small loans in the Netherlands?

Lenders Providing Small Loans in the Netherlands

Lender Type of Service Maximum Loan Amount Loan Term APR Range Online Application
KleinKrediet Mini Loan €1500 15-30 days Varies Yes
SnelleLening Quick Loan €1000 Up to 45 days Varies Yes
DirectGeld Instant Loan €500 30 days Varies Yes
SpoedKrediet Emergency Loan €750 30-60 days Varies Yes
GeldVoorschot Advance Loan €600 15-30 days Varies Yes

How do mini loans in the Netherlands compare to other types of credit?

Comparison of Credit Types in the Netherlands

Type of Credit Accessibility Repayment Terms Loan Amounts Interest Rates
Mini Loans (Flitskrediet) Highly accessible online Short-term, often 15 to 30 days Small, usually up to €1500 Higher due to short-term nature
Personal Loans Subject to credit checks Medium to long-term, typically 1 to 5 years Higher, from a few thousand to tens of thousands of euros Lower, fixed over the term of the loan
Credit Cards Accessible with a bank account, subject to credit approval Flexible, but interest accrues on outstanding balance Varies, often several thousand euros Can be high, but with interest-free periods
Overdrafts Linked to a bank account, subject to approval Very flexible, but meant for short-term Varies, typically lower than personal loans Can be high, especially for unarranged overdrafts
Revolving Credit Subject to credit checks Flexible, can be used repeatedly up to a certain limit Varies, generally up to a few thousand euros Generally lower than mini loans, but variable