How can I borrow money quickly – Apply for Mini Credit
June 14, 2019
When you are a bit short on cash you can consider borrowing money. You may not be able to pay the bills or you simply have to make a new purchase. In such cases of borrowing money can be a solution. People generally borrow money from a bank, but there are also other lenders that they can go to.
There are different ways to borrow money quickly. When you have decided to take out a loan you will first have to decide what type of loan you want. For example, there are different types of loans and each loan is different. Below you will find an overview of the most used loan:
- Personal loan
- Revolving credit
- Subordinated loan
With a personal loan you immediately receive an amount to your account that you will have to pay in installments. With a revolving credit you always have some money in hand in the form of credit which you can take out where and when you want with a maximum credit limit that is agreed upon in advance. A mortgage is a loan that is intended for the purchase of a home.
Borrow money quickly and the BKR
When lending money, the lender will generally do a review at the BKR. The BKR stands for Bureau Krediet Registration and is an institution that keeps electronic records of people who use a form of credit. This allows lenders to take a look at the financial history of the potential customer before granting a loan.
In this way one can see whether these consumers have ever had a loan in the past and whether they have had problems paying off it. They can also see if these consumers have had problems paying bills. If one of these cases has been applicable then the consumer has a negative BKR coding after his name.
With a negative BKR coding, consumers can experience problems with taking out a new loan. Many lenders are not so keen on providing a new loan to people who have had problems paying off an old loan in the past.