Short-Term Loans
Short-term loans can be a valuable financial tool to address various expenses. Lenders are online 24/7.
What Is A Short-Term Loan?
A “short-term loan” is a type of unsecured financing that uses a relatively short repayment period. Even though short-term loans don’t require collateral, lenders may still have less strict income requirements.
The Pros And Cons Of Short-Term Loans
Pros:
- Easier eligibility requirements
- Fast payout
- Lower interest rates
- Money direct deposited
Cons:
- Steep penalties and fees
- Higher APRs
- Lack of credit building
- A lingering debt cycle
Additional Types Of Short-Term Loans
Payday Loans
A payday loan is a short-term loan that is used for unexpected expenses.
Cash Advances
A cash advance is a short-term loan offered by many banks and credit card companies that comes with higher interest rates.
Bridge Loans
A bridge loan is designed to help home buyers who are buying and selling at roughly the same time and may need temporary financing in between the time when their new home closes and their soon-to-be old home sells.
Uses of Short-Term Loans
- Car repairs loan
- Medical emergencies
- Utility shut-off notices
- Creditor late fees
- Any other emergency situation
How To Get A Short-Term Loan
2
Instant Decision
Get An Instant Decision Online in Under 90 seconds.
3
Get Cash
Get Approved & Get Cash As Soon As The Next Business Day.
Requirements to Apply Online for a Short-Term Loan
- Must be at least 18 years or older
- USA citizen or legal resident
- Checking/Savings Account
- Monthly source of Income/ Disability
- Working telephone number
- Valid email address
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