Short term loans generally have repayment periods of 12 months or less, and are available to borrowers with less than perfect credit history.
If your credit score is less than 600, or if you have little to no credit history, you may have difficulty qualifying for a traditional loan. So if you need cash fast and are living with bad credit, short term loans provide easy access to financing. These loans offer quick cash to cover time sensitive expenses like your child's daycare or to reconnect your phone. Applying for a short term loan online saves you time - there's no waiting in line or reviewing stacks of paperwork. Once approved, you may be able to have cash in your bank account in as little as 24 hours.
You can use a short term loan to pay for rent, car repair, utility bills, or any number of unforeseen expenses. For borrowers who want a loan with a quick repayment period, short term loans may prove to be a viable source of cash.