Monday, December 15, 2008

How To Get A Short Term Loan

Here is what you need to know about getting one for your needs. This is where it could be real handy to get a short-term loan. Something has come up and you are in need of some cash - but only till payday.

You do work, and the money is coming, its just that payday is a week away. Every now and then money can get a little tight in between paydays.


These loans enable you to get the cash you need in a very short time - sometimes in about an hour, but some places will take up to 24 hours. Short-term loans also go by a number of other names, such as payday loans, cash advance, fast cash, and a few more.

All you need in order to get your short-term loan is being employed at the same place more than three months. In addition, you will need to make more than $1,000 each month. They will ask for the name and phone number of your employer, and may call for verification. In some cases, you may need to fax copies of some of your recent pay stubs to them as proof of your income. A bank statement may also be needed, too.

You will also need to be ready to give some pertinent checking account information. This is where you will get your money, which will be directly deposited into it. Also, the money will probably be withdrawn out of it on the day the loan becomes due. An alternative way of paying is that you pay the loan off in person at the loan office. This account will need to have been in existence also for about three months.

Short term loans, or payday loans, are required to be paid back in just a few days - usually your next payday. Your first loan from a payday loan office - or Web site will be small, probably less than $400. You also want to make sure that you pay it off on time, too, as this will help you to get payday loans in the future for more money. Not paying it will quickly get you into trouble and banned from future payday loans.

One nice thing that you will also want to look around for is that a number of payday loan providers will let you have the first one interest free. At this rate, you will want to shop around some so that you can find a good one. This can range anywhere from about 15 all the way up to 30%.

Be aware that these payday loans can have quite a high interest rate.


By shopping around, you may be able to find even better deals. Because of the high amount of competition between the lenders, new features are slowly being added to make their loan product more desirable. Some, though, will allow you to pay it back in three or four payments - instead of all at once. This is a newer feature, and not many do it yet.

Some payday loan lenders also have some differences in how long you will be given to pay the loan back, too.



3 comments:

Kara December 15, 2008 at 12:21 PM  

>Payday loans are great for those immediate and sudden unexpected expenses that can come up in between paydays. Payday loans are quick, easy, and more affordable than the late fees and overdraft fees that can occur.

Candace December 16, 2008 at 1:15 PM  

payday loans cash advance Just when I think I am getting caught up, another unexpected situation occurs. If it was not for my payday loan lender, I would have been in several fixes. These loans have helped my get out of tough financial situations and I am very thankful.

Nicole December 18, 2008 at 8:57 AM  

When Christmas time is here, I feel like I can't make it. I was told by a friend to look into the Online payday advance and It was just what I needed. Some cash, for a short time. Quick and easy!

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