The Benefits of a Short Term Loan

Have last minute holiday plans or big household expenses thrown off your monthly bank balance?

No matter how much you may pride yourself on your budgeting skills, unexpected costs can surprise anyone at any time. When the need for a personal loan arises, it’s best to look into a short term loan to solve your cash flow problem. Read on to learn the benefits of taking out a short-term loan.

A short term loan is not a big commitment. You’re not borrowing thousands of dollars for schooling or a mortgage in a simple cash flow scenario, so you don’t have to fret over years of lingering debt. If you’ve never applied for a personal loan before, a short-term loan is a great way to get a feel for the loan process and learn how to balance paying back the lender alongside your usual expenses. A responsible lender like Speedy will make sure the terms of the loan and the payback period suit your current financial situation so that the process is never a burden.

You receive the cash you need – fast. Since a short-term loan involves a small sum of money, the approval process is quick and easy. You can work directly with a private lender online instead of taking your request to the bank, and most applications are approved the same day. It’s a pretty sweet deal!

You don’t have to offer collateral. Large loans may require security, such as a car or major appliance, which a lender could seize should you be unable to pay back the loan. Since short-term loans aren’t as big of a risk, they’re usually unsecured. Learn more about the difference between secured loans and unsecured loans here.

Your credit history doesn’t matter. Bad credit can keep applicants from receiving large loans from the bank, but smaller loans are a great way to rebuild trust and credit. An understanding private lender like Speedy will give you the chance you need to redeem past financial blunders through means of a short-term loan.

If you’re looking to cover a sudden expense, Speedy Finance offers short-term loans of $300 to $3,500, and can grant them the day of application. Our caring staff knows that financial mishaps are a universal experience, and will work with you to find a solution to your current cash flow problem. Read more about our short-term loans here, and contact us today to begin the personal loan application process. We can’t wait for you to join the Speedy family!

Justin Harding