Short-Term Loans 101
If you’re thinking about getting a short-term loan, be sure to do your research — short-term loans are extremely dangerous — short-term loans cause long-term destruction.
That’s where we come in. Armed with this website, you don’t have to become another statistic — we can help you make the right decision. We’re not affiliated with any short-term loan lender.
This website will teach you everything you need to know, whether you’re looking for business short-term loans or payday short term loans. Advice, resources, links and profiles of lenders – it’s all here. Make sure to read up before you get the loan.
What Kind of Short-Term Loans Are There?
A short-term loan is (you guessed it) a loan that is meant to be repaid quickly. Short-term payday loans should almost never be used — if you have any alternative (turning off electricity, turning off the water, etc), use the alternative first.
Short-term loans in general can be for businesses, individuals and even students. To be more specific:
- Short-Term Payday Loans. A short-term payday loan is a loan for basically anything. You are usually charged an extremely high amount of money in order to be given an “advance” on your next paycheck. You give the loaner your bank information, and they automatically take out the money from your next deposit. Don’t apply for one of these until after you read our warnings — if you apply at all.
- Short-Term Business Loans. When a business suddenly finds a shift in the market or economy, they might be short on funds for a few months and will need to “bridge the gap.” For a perfect example, just think about the “Bailouts” that have been in the news. These “bailouts” were actually about giving loans to the big businesses.
- Short-Term Student Loans. While in college, emergencies can occur where the student needs funds. Most students aren’t loaded, meaning they are required to receive a loan on some level. Many colleges and/or universities offer short-term student loans to the students for such an occasion.