Do you want to take out a loan or credit,
as a private individual and therefore not for business?
But do you have a (negative) BKR registration?
Then that is not so easy .
Nevertheless, there are options that we are happy to explain to you.
When you borrow an amount up to and including 2000 US dollar, we call this a small loan. You can take out a so-called mini loan or payday loan for this. In the Netherlands there are two providers: Money Now (the worldwide market leader in this market) and Saldodipje.nl . Both are subject to AFM supervision and therefore adhere properly to the law. They also have identical conditions. All other providers were banned by new regulations a few years ago.
The reason that the AFM has taken a strict look at this product and the providers is because these credits are given without checking possible reports at the Credit Registration Office in Tiel. This is due to the limited amount of money that you borrow, so that the risk for the parties is automatically lower than with, say, a loan of tens of thousands of US dollars. So they do not do a BKR check .
You don't even have to fill in any paperwork : only your ID is sufficient, no further documents such as pay slip or proof of income are required. You can therefore make the request within minutes. And after approval it is often in your bank account within 24 hours. In case of urgency is therefore also a good solution.
All you need is a guarantor . One that you find yourself is the easiest, but if that doesn't work, they can also arrange one for you. Please note that this costs money. It is therefore preferable to ask someone close to you to stand surety for you, such as your parent, brother, sister or good friend / acquaintance.
The terms of these loans are short: one to four months. More precisely, a minimum of 3o and a maximum of 124 days, depending on the amount of the loan you need. This means that you have to pay back relatively quickly.
That is why you should see this form of loans mainly as bridging . For example, until your next holiday pay comes, but you already need a new laptop… something like that. As long as you know that you can pay back by the time the term ends.
The advantage of a short term is that you actually pay less interest than with a longer term. You pay interest per unit of time (month / year). So in an absolute sense you pay less interest, despite the fact that the interest rate / annual cost percentage (APR) is higher than a “regular loan” with a term of several years.
Calculation examples Money Now :
A) You take out a loan of 400 US dollars . The term is then 30 days , after which you must repay including interest. That interest owed is then 1.97 US dollars . You pay for this in one go together.
B) You borrow 1200 US dollars . You can then choose the duration yourself for 62, 93 or 124 days . You always pay in 2 - 4 equal terms of 31 days. The interest is respectively 10.54 / 13, 95 or 17.36 US dollars, depending on the chosen term
You can also borrow money without having to do so through an official financial institution. So apart from banks and lenders. This is possible with a private loan from a known person, or you can borrow from other (unknown) private individuals via so - called peer-to-peer platforms (P2P).
Examples include Fast Invest and Mintos . Please note that these are foreign internet companies, but that they still send a collection after you if you do not pay. These platforms bring together supply and demand: some people want to invest in consumer credit because this provides a good return. On the other hand, you can apply for a loan here without a bank. The platforms facilitate and check the applicants' creditworthiness.
If you do not come out with a mini loan / flash loan , so you need more than that $ 2,000, then in the Netherlands there are basically two types of loans that you can take out: a personal loan or a revolving credit . Click through on the links to read more about the properties of these products, the advantages and the disadvantages.
However, you cannot just apply for this if you are registered with the BKR. You will see that the providers always check this because it often concerns quite large amounts. Still, it doesn't hurt to request multiple quotes, because providers all look differently at the exact BKR listing. You can read why further on. Below you can see the lowest interest rates for these loans in real time to request a quote.
These two credits each suit a different situation. We are not going to advise you on this, you need to go to a recognized financial advisor. They can also check in more detail whether you can request one with your BKR registration.
Not all registrations at the BKR are the same or have the same weight. With some negative registrations you can even borrow. Such as a restored report or after repayment of a mortgage by the NHG. Credit Group USA is a Dutch specialist in loans. They can not only spot the best loans (and interest) for you, but also assess how your BKR is. And requesting a quote is free !
Any form of borrowing from 250 US dollars is included in the file of the Credit Registration Office (BKR). This also includes payment arrears at your bank (overdraft) or credit card company. Not all of these recordings count equally and a registration is not necessarily negative. As long as you properly comply with the payments of a current loan, it will remain with a positive registration.
However, as soon as you run into payment arrears, it will be converted to a negative listing. Actually a kind of big red flag for lenders, because that indicates that you do not have Demorei payments earlier and are therefore less creditworthy.
By the way, this only applies to loans that have ever been entered as positive registration at all. So if you pay too late for your rent or subscriptions, for example, they will not be visible. Payment arrears to the tax authorities or on your student debt are also excluded.
When you have resolved the payment arrears and are back on schedule with your repayments and repay the loan, the negative registration will be converted to a “recovery report”. This will remain visible for another 5 years , so companies can continue to see that you have ever been late with payment.
Companies therefore check the BKR to see whether you are worthy to request a loan from them. The simplest thing they can do is see if your name is in it. They can also see what kind of loans you have and for what amount .
This may be enough reason for some to refuse you. They can also look at the type of report, so as indicated earlier whether it is a positive, negative or corrected report.
However, the BKR can also provide a 'score' for the companies. It is based on your borrowing and payment behavior. This is compared within your age group against (compared to) the other people with a registration. This indicates a risk factor (prediction) on future payment arrears.
Companies were allowed to decide for themselves how they deal with the various registrations and scores. That is not regulated by law. One provider will therefore be slightly more flexible than the other. That is why it is smart to always request multiple quotations from multiple parties.