Short-Term Loans

Prospective applicants can apply for a short-term loan online or in-store with a direct lender. The application will require personal and financial information. If approved, the borrower may receive their funds in as little as one business day. Note that processing times vary based on the lender and your bank.

Short-term loans are meant to be repaid within two weeks or when your next pay date arrives. Quidable helps connect individuals to lenders who may offer them short-term financing.

As the name implies, short-term loans are meant to be used on a short-term basis. Typically, these loans are obtained when you have an emergency that requires an immediate fix. For instance, short-term loans can be used to pay for:

• Auto repairs

• Medical bills

• Home repairs

• Rent or mortgage

• Household bills

• Groceries

• Gas

Typically, when applying for a loan, it is understood that you must have a strong credit score. Banks tend to implement extensive credit checks and rely upon your financial history to assess your loan eligibility. This may be a risk to many and a reason to rethink their loan decisions. Many loan customers often face unexpected situations that render them unable to cover their obligations and, in turn, lower their credit score.

While you might come across many advertisements suggesting the opportunity to locate loans and direct lenders with no credit checks, that is not usually the case. However, what may be available are bad credit loan direct lenders. These providers implement a credit check upon their applicants; however, they may not fully rely upon those results to provide credit decisions.

Bad credit short-term loans are sometimes an opportunity for those who have been rejected for loans by banks due to their low credit score. If you find yourself in need of some extra cash but cannot get the loan you want from the bank due to your credit score, then online loans might be a solution.

When it comes to any type of loan, there are certain tips that you can follow to make the process smoother.

Never borrow more money than you need. If you are getting a larger sum of money than you need, then you will be obliged to pay back the amount with interest.

Do Your Research. Complete your research and study the loan options and rates that are most appropriate for you. Online loans allow you to conduct your entire search from the comfort of your own home.

Keep Constant Contact With Your Online Lender. One of the best advantages of working with a direct lender is having the opportunity to communicate with them. The source will directly address any questions you may have.

Read and Understand Your Contract. You must fully comprehend and analyze your loan terms and conditions when beginning any loan process. If you need clarification on any aspect of the loan, reach out to your lender.

Repay on Time. Always comply with your loan terms and conditions. Missing out on your loan repayment may be risky and dangerous, as it may lead to extra fees or negative impacts on your credit.