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Simple and fast application process that can be completed in as fast as 3 minutes. Get your cash loan within an hour.
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We offer a small to a big amount of cash loan. Select between $100 up to $25,000. Once done, we will link you with the best lender who can provide the cash to you.
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As we pride ourselves in providing unparalleled cash lending experience, we have more than 15, 000 satisfied customers who continuously find our lending program excellent
I really needed instant cash for my business. I did not know where to go until one of my colleagues recommended this site. Surprisingly, I was instantly approved and got the cash assistance I needed. It’s the best lending site!
– Mr.John Desooza
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The short term loans for quick financial solutions
The startups, small businesses and individuals often encounter situations and scenarios where they need emergency or quick financial solutions for their capital requirements. There are various categories of loans available in the market and each of those loan types differ based on their characteristics and what they offer to the consumers. For a short term quick fix for your financial requirements the short term loan is a great option as it is designed for that very purpose.
The short term loan is a category of loan that is provided by banks and lenders for a short period to aid people with temporary financial requirements. The short term loans come in handy when you are unable to obtain the other forms of credit or loan from the bank for a longer duration. For short term loans the interest is often payable on amount of principal advance and the tenure of repayment is shorter in comparison to the other categories of loans. These loans are available for businesses as well as individuals and they are provided by various finance companies, banks and lenders.
Things to look for when opting for the short term loan
The repayment tenure of the short term loan in most cases is anywhere between 6 months to 18 months. Any other loan which has a tenure longer than that is considered as the medium or long term loan plan or scheme. Most of the short term loan schemes don’t necessarily mention the specific date or repayment or payment as they allow the borrower to repay the loan amount at their own pace within the specified period.
There is a simple to-do list when you want to apply for the short term loan. To begin with you must compare the various loan offers that is offered by the multiple lenders in the market. One of the things that you must look for when checking the loan offers is the rate of interest which will be applicable on the short term loan that you are being offered. Apart from this you must also find out the time required for the disbursal of the funds, the amount of loan that can be chosen and how reliable that specific lender is. You can also make use of eligibility calculator to determine the maximum amount that you are allowed to borrow from the various lenders.
The different lenders have their own eligibility criteria which is likely to be mentioned on their website and policy documents. When applying for the short term loan you must ensure that you meet that criteria before sending in the application. Finally if you meet the criteria and are satisfied with the terms offered on the same day loan by the lender then you can go on to proceed and submit your application for the loan.
If you are choosing to do the online application then you would need to fill the online form which might include a few details such as your name, phone number, email id, identification documents amongst other stuff. This form will then be submitted on the lender’s website following which there will be a quick processing of your loan application. Eventually when the loan application is approved the specified amount of funds will be transferred to your bank account through digital transaction. Some of the factors that play an important role in determining the eligibility criteria for an applicant includes lender policies, local rules and regulations, income and applicant’s capability of repaying the loan amongst a few other things.
There are various types and categories of short term loans such as merchant cash advances, lines of credit, payday loan, installment or online loans and invoice financing amongst others. Let us have a look at some of these types of short term loans.
The merchant cash advance is basically like the cash advance but it is still operated as a loan. In this scheme the lender provides the loan amount to the borrower and in return the borrower does the payments of loan by providing access to borrower’s credit facility to the lender. Whenever there is a purchase by the customer, a specific percentage of sale is given to the lender.
The lines of credit is another category of the short term loan. This scheme is essentially like using the business credit card. The specific amount of credit limit is fixed and the borrower or the business is able to tap into that credit as and when required. The repayment is done in the form of monthly installment against the money that has been borrowed. Thus the amount of monthly payment will vary from borrower to borrower depending on how much money has been taken from the line of credit. One of the advantages of the credit lines over the business credit cards is the fact that the credit lines involve lower charges for the annual percentage rates.
The payday loans are another form of short term loans that is used for emergency requirements and which is relatively easier to obtain. One of the drawbacks of this loan scheme is the fact that the entire amount of loan plus the interest should be paid in the form of lump sum whenever the payday of the borrower arrives. The repayment under this scheme is usually done by lender taking the money from borrower account through continuous payment system or authority.
Another category of short term loan is the online loan. Getting an online loan is extremely easy and convenient since all the applicant has to do is apply for the loan and the entire process will completed on the internet with money being finally wired or transferred to the borrower’s account.
The invoice financing, a form of short term loan is completed through business account receivables, which is basically the invoice that is unpaid by the customer. After giving the money, the lender charges interest for number of weeks in which those invoices are outstanding.
These are some of the popular forms of short terms loans and there are various significant lenders who offer this loan.