Everything you need to know about our loan

A mini-loan is an older type of consumer loan with payment on the day, a loan amount of USD 100 – 10,000 and a maturity of up to 3 months. These loans can no longer be obtained in Denmark.

You can either choose a loan with fast repayment and long maturity or short maturity and repayment only after 2 days. Do you want a loan with both a quick payout and a short installment period? Loan and Credit has a solution !

Loan and Credit offers fast consumer loans with installments . Here you get both a quick payout and a running period that you decide for yourself. Our loans are different from others because they are flexible, user-friendly and designed to prevent debt spirals.

Loan and Credit’s mortgage loan solution gives you the freedom of responsibility. With our loan you are not limited by as many rules as you would be with the regular mini loans. You have a flexible repayment period , a flexible loan amount, and many options for flexible repayment.

Small Loans and Debt Spiral – What Should You Know?

Small Loans and Debt Spiral - What Should You Know?

The typical mini-loans have been debated for a long time because they can easily lead to a debt spiral.

A debt spiral is an economic situation in which new loans are taken to pay off old loans. Worse than that – you take out new loans just to be able to pay interest and interest on the old loans. Thus, one’s expenses are rising all the time. One’s debt produces more debt . It needs to be stopped. How do you do it?

To find a solution, several agencies have worked to find the problem. It turned out that there were two sides to the case which posed the problem of small, fast loans. Here we will review both.

Minimum day loan


Minor loans on the day used to be paid off quickly. This meant that people used to take out mini-loans on the day to cover impulse purchases. It often happened late at night while in town, or when there was a sale of electronics and clothing.

Due to the lightning fast payment of mini-loans on the day, it was used to be able to use the entire amount borrowed immediately.

That would not have been an issue in itself, but the maturity was too short for the daytime loan. Although regret the next morning, it was too late.

Attempt to fix it

The state has been trying to solve the problem of mini-loans on the day of the law.

The so-called 48-hour think-break was introduced. This rule says that if a loan has a repayment period of up to 3 months, then you should not get it as a minimum loan on the day. No quick payout. It must take 48 hours before you can get your money and you can undo the loan during that period.


The new rule means that the original minimum loan on the day can no longer be obtained . If you want a minimum loan on the day, you will need to find a long-term loan.

Another solution might be cash credits or Loan and Credit, which gives you the equivalent of a day loan. We explain this solution to a mini-loan on the day further down the page.

Minimum loan – 30 days or less

Minimum loan - 30 days or less

The other side of the problem of day-to-day mortgages proved to be the very short and strict repayment deadlines. The typical minimum day loans would have to be repaid in 30 days or less. Subsequently, fines and additional fees would be imposed.

Payment of a 30-day minimum loan had become a trap for many Danes. Even if you think you can pay off your 30-day minimum loan, this is not always the case. Repayment of a 30-day minimum loan becomes impossible if you suddenly receive unforeseen expenses. And it often happens.

There can be many reasons why you cannot repay your 30-day minimum loan. The fact is that a quarter of Danish fast lenders do not reach the deadline (the Competition and Consumer Agency, 2015).

Attempt to fix it

Here, the state would also regulate loan providers’ repayment requirements for 30-day minimum loans. With the current legislation and the 48-hour rule, you can no longer get a repayment agreement for a quick 30-day minimum loan.

If a loan is paid off immediately , it must have a maturity of more than 3 months. In this way, borrowers have a greater chance of repaying their loans on time.