Borrow money with social assistance benefit

When you receive a social assistance benefit from the government you can safely say that this is not a waste. The government offers you a subsistence minimum, but one in which there is no room for any extra whatsoever. In fact, with every cut you know one thing is certain and that is that your benefit will be reduced.

You can easily get this knowledge (further) down. After all, you are also just a person and you sometimes want to be able to buy something extra or, for example, get out. This automatically means that you want to borrow money with social assistance benefits.

Borrow money with social assistance benefit

There are many benefits. Consider the Unemployment Insurance Act or the Wajong. Both provide for a minimum benefit, whereby austerity is an asset. The WAO is a well-known benefit such as the Work and Social Assistance Act and also the Work and Income according to Labor Capacity Act, the WIA to name one more. They all have one thing in common and that is that it is impossible to borrow money if you “enjoy” one of the above benefits.

Borrow low amount

In order to give a negative story a positive twist, it is indeed possible to borrow money with a benefit such as the one mentioned above. Although not towering amounts, but perhaps an amount that fits exactly with what you have in mind. We then talk about a so-called mini loan, also called a flash loan.

A third name that you sometimes come across for this kind of relatively small credit is “an advance”.

How does that work

You can close a mini loan quickly, simply and easily via the worldwide web, ie the internet. You can usually borrow an amount up to a maximum of € 1000. You can repay this within 30-45 days. Due to this short term and the relatively low loan amount, the interest payment, or transaction costs, is low.

Often only a few euros. What is a big advantage with a flash loan is that you are not overwhelmed by the questions, as is the case with large banks. You may be registered with the BKR (Credit Registration Office), but you don’t have to worry about that either. BKR is not tested with a flash loan. Apart from all these benefits, in most cases you can also have the loan on the same day.

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