A flash credit from a balance dip: what is that? – Apply for a mini-loan

In the e-mail I received (on behalf of Good Finance ), some tips were given to spend the money. That way I could go shopping for a day with my friends. Also a day at an amusement park was of course not to be missed. So it seems that this mini loan is aimed at young people or people who can no longer get another money loan. This is of course understandable, the majority of the population understands that taking out a loan for 30 or 60 days is a very expensive form of borrowing money. This loan has also been taken out in a flash. So there is not much time for reflection.

How does the mini loan application work?

The Good Finance site provides clear information about this. For example, the applicant must be at least 21 years old and resident in the Netherlands. A minimum income of $ 900 per month is also a requirement. After completing the application form on the website, a so-called credit check is automatically placed. This check checks whether you are on lists with (known) defaulters. It is also examined whether the home / zip code entails an ‘increased risk’. Is this the case? Then the loan will be rejected.

This check is performed by companies such as EDR Credit Services. Radar has already paid attention to this. It can happen that, due to the (mis) behavior of a previous resident, you become known as a defaulter. This is of course an extremely bad case.

Approved, what now?

Has your mini loan been approved? Then Good Finance will send you a text message with a confirmation. The amount you wanted to borrow will be deposited within the period of your choice. From that moment on it is important to ensure that you are repaid on time. Indeed, providers of mini-loans make use of the (for them) favorable Dutch collection legislation. This enables them to immediately charge $ 40 in file costs, so that you are even further hunted for costs.


Personally, I am not a fan and supporter of this product and certainly not the way of recruiting. For example, I received an unsolicited e-mail in which I was promised nice days. Do you have the same or different experience with borrowing money through a mini loan of a balance dip? Then contact me. I want to collect the feedback to do more research into this form of borrowing and, in particular, the impact of this on consumers.