US Short Term Loans

It seems that every month peoples personal expenses rise, but their amount of income has become stagnant. This is a problem that is facing families around the globe. Even today, there are still families who survive from paycheck to paycheck on just one income.In many cases, this income is not enough to cover the everyday expenses. This gap in income vs expense is more and more often handled by short term loans.

Short term loans are exactly as their name suggests. Loans that have a very limited term, and therefore a higher rate of interest. Another factor in the higher interest rate for these financial products, is the fact that there is no credit check required to get the loan. The actual qualifications are very few in most cases and the loan is generally based solely on the amount of ones income. These loans take on other names also, such as cash advances, payday loans, paycheck advances and so on.

The repayment terms on these loans is usually from seven to fourteen days. Normally these loans are designed to be paid back in one payment on the due date. There are instances where this just isn’t feasible. In these cases, the loan companies will usually offer an extension an the loan, but the cost of doing this is high and should be avoided. This action usually carries additional fees.

These short term loans are usually issued in amounts from $100 – $1000, depending on the needs of the borrower. If not used with caution, these loan products can, and far too often do cause further financial stress o an already stressed borrower. Used with care, they are a valuable way for people to get help in times of need. The US short term loan may be the answer to your pressing financial needs.