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Research among mini-farmers 2019 by Lakes N Trails

Result of research among Minileners

Pay attention! Borrowing money, costs money! Does this sound familiar or not? The USA Authority for the Financial Markets (AFM) wants to warn the Dutch against the less rosy side of borrowing money.

The research

Research shows:

  • The average mini-painter is between 31 and 44 years old
  • The loan amount is between 100 and 500 US dollars
  • It is most commonly used for sustenance
  • The minilener is well aware that borrowing costs money

Why do the advantages of borrowing money outweigh the disadvantages?

Recently, a survey was conducted by lakes-n-trails.com with 9 questions (each with three or more answer options) about mini-loans. More than 200 respondents completed the survey. They have taken out a mini loan or want to do this.

Below the most important results and get to know the Dutch target group that is taking out a mini loan.

What is a mini loan?

A mini loan is a loan of a small amount with a short term , where no BKR test is involved.

Other names for this form of borrowing are mini credit, payday credit, flash loan or SMS credit .

The BKR test with a mini loan is not done. You can borrow up to 1500 US dollars. The short term often consists of a few weeks to a maximum of 2 months.

You are eligible to take out a mini loan:

  • If you live in the USA
  • Are at least 21 years old
  • You have a guarantor

The mini loan can be closed quickly and easily on the internet.

When the lender determines that you meet the conditions, the money can be in your bank account within a few hours.

Amounts mini loan

Amounts borrowed according to the survey among mini-renters

About half (49%) of the mini-loan participants have taken out a mini-loan or want to take out a mini-loan for a relatively low amount: 100 to 500 US dollars.

In addition, 27% of the participants in the group of a mini loan fell between 501 and 1000 US dollars. 23% wanted to go for a loan between 1001 and 1500 US dollars.

Purposes of the mini loan

Purpose of the mini loan

These are the goals of the mini-renters:

  • 36% living expenses
  • Pay off 21% debt
  • 13% home maintenance
  • 6% products (telephone, kitchen appliances, etc.)
  • 2% company
  • 22% different goal than mentioned above

This is in line with what the mini loan is best known for.

It is compared to the comparable range of loans in the United States called ' pay day loan '. The mini loan, like this form of credit, is often taken out in the US to bridge a short period until the next payment of the borrower's salary.

If the purpose of the loan is an expensive purchase, the amount of the mini loan will not be sufficient and it is also more likely to choose a loan that, in addition to a higher amount, also entails a longer term.

Age minilers

Age of the mini-farmers

Almost half (47%) of the survey participants fall into the age group 31 to 44 years. The 18 to 30 age group was also a well-represented category among the participants.

Because you can only apply for a mini loan from the age of 21, this participating age category will consist of people between 21 and 30 years. About one third (32%) of the participants indicated that they belong to this age group.

19% said they were between the ages of 45 and 64 and only 2% were 65 or older.

This result is in line with the results of the National Loan Survey on loan applications in 2017 published in 2018. A comparable result was also found here: the age group between 31 and 40 years applied for a loan most often in 2017. This study involved not only mini-loans, but all variants of loans that were requested.

Living situation mini-barrels

Almost half of the mini-renters (47%) indicate that they are single. On the other hand, 30% live with his or her partner and 23% are resident.

The results of the aforementioned National Loan Survey showed that single people without children took out loans most often in 2017.

It is striking that single people with children opted by far the least for a loan.

In the current survey conducted by lakes-n-trails.com, no distinction was made between single people with or without children in the answer options for the question about living conditions.

Financial situation and work situation mini-renters

Work and study under payday loan borrowers

Work: More than three quarters (76%) of the mini-galleries indicate that they have a job. Of the other borrowers, 16% are unemployed, 6% are self-employed and 2% are students .

Who are all red

Red: Most of the mini-galleries are not red ( 63%) . 31% is in the red and 6% of the participants indicate that they are sometimes in the red.

Who is saving

Saving : More than half of the participants (51%) indicate that they would like to save, but do not have the money to do so.

One third (33%) is saving and 19% is not saving.

The fact that the majority indicates that they have no money to save suggests that the minilener often needs the money very much in the short term. This is in line with the above result, which indicates that the purpose of the mini loan among the participants often involved maintenance.

Awareness and openness about mini-loan

Informed: The vast majority of the mini-renters are aware of the costs of the mini-loan: no less than 92% .

Of the other participants, 5% indicate that they are not aware of the costs and 3% that it is unclear.

This result gives the impression that 'Borrowing money costs money' is well understood by most people.

Openness: The degree of openness about taking out a mini loan to family and friends is very divided among the participants.

Half (49%) indicate that family and / or friends are aware of the loan and the other half (51%) indicate not.


In short, the research results of the survey provide a clear picture of the Dutch who are interested in taking out a mini loan.

When you hypothetically combine the answers to the different questions, you could cautiously assume that the average minilener looks like this:

  • Marital Status: Single
  • Situation: He / she is working
  • Age: Between 31 and 44 years old
  • Loan Amount: Between 100 and 500 US dollars
  • Purpose: Livelihood

He or she is well aware that borrowing costs money.

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