Mini-credit provider Austria: Who offers mini-loans on what terms? To which providers of mini loans exist and how do they differ? Neofunding is the best-known provider of mini loans. We have many years of experience in the financial business and only recommend the mini loan providers we trust. A few years ago there were still two or three providers of mini loans, but today they are much more.
Mini-loans and short-term loans
The mini loan is NOT comparable to a micro loan! Microcredits are only granted to start-ups who, with their intended independence, are in the start-up phase. Microcredit is therefore a classic business-to-business (B2B) loan. Ordinary microcredit and microcredit, as used by companies are mini-loans, which were usually granted exclusively to private customers (B2C).
In addition, microcredit and mini-credit have significant variations in credit conditions. All mini-credit providers that are presented here on this Internet portal, in principle, no initial costs or the like to pay. However, there are considerable interest rate differentials between the different mini-credit providers. The range of individual loans is very broad.
The differences in real interest rates
In some cases even more pronounced (see also our graph on lending rates)! However, for interest rates on a mini loan, it should always be kept in mind that the effective amount of interest on this type of loan is of little importance due to the small loan amount for a mini loan / short term loan and the equally short term (with the exception of Camibank’s direct money supply).
Unfortunately, it is repeatedly read in well-known online magazines as well as in the social media that minicredit providers are all shockers and fraudsters. Such short-term microcredit only differs in terms of conditions and providers themselves. Most of the lenders listed here have specialized in small loan lending, with one exception (“Camibank”).
The providers presented on our portal also have the rank of a house bank (licensed) or cooperate with a licensed house bank. Further information can be found on the individual pages of the respective lender. If these minimum requirements are not met, a short-term loan application should be waived in principle – regardless of which provider would have been suitable for one.
In addition, there are additional minimum requirements such as the specification of a mobile number and the like. The other requirements for a successful application for a mini credit are required, please refer to the respective provider pages. The reason for this is simple: If a customer does not have sufficient creditworthiness or shows his own credit history Interruptions in the payment of installments, invoices, etc., any lending institution interprets this as an increased default risk.
However, the greater the default risk for the house bank, the lower the likelihood of getting the loan requested. Basically, this also applies to the provider of short-term loans shown here on this loan portal. Some providers refer credit information from the credit bureau, etc., but these are interpreted differently by some providers.
These two factors alone minimize the credit default risk for mini-lenders. So if you have no bad qualities, but an average credit rating / credit note may make legitimate hope for the award of a small loan with the mentioned providers.