Short term loans are a popular lending option for people who need some extra money before their next payday. Often an amount is selected that can be repaid within 30 days although some lenders and brokers offer larger amounts with longer loan periods.
Complete the short term loan application, it only takes a few minutes.
A short term loan offer will be selected from a panel of lenders.
If you are happy with your quote you could receive your loan the same day.
Amount of money borrowed
Total repayment period
How much is repaid each month
The amount of interest accrued
The total repayment amount
Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% p.a. (variable). Representative 305.9% APR. A short term high cost loan should not be used as a long term solution. We are a broker not a lender. We don't charge fees. We don't sell your personal information.
An introduction to short term loans
Short term loans are offered by a range of online lenders and credit brokers, and were once commonly referred to as payday loans. The term payday loan refers to the loan period which is often very short and usually lasts 30 days, or when a person next gets paid. Short term loans are due to be repaid within a set amount of time, depending on the lender or broker.
Short term loans are offered by many lenders and credit brokers online and on the high street. Short term loans are unsecured and have high interest rates, and are expected to be repaid once the borrower receives their next pay check.
Loan period and interest rates
Depending on the amount borrowed many banks will require assurances and secure the loan against the borrower's property or belongings. The smaller the loan, the less likely the bank is to going ask for it to be secured. A secured loan application is longer as the bank will check the borrower's credit to check the borrower has the ability to pay the loan back.
If a small business wanted to borrow money, the lender, broker, or bank would review the business's cash flow history. When an individual wants to take out a short term loan a lender or broker may look at the borrower's personal credit score to determine whether they are eligible for a short term loan.