Looking for the Best Short Term Loans?
If your need for money is small but urgent and you dread the thought of carrying a loan burden for many years, finding the best short term loans is probably an ideal financial option to consider.
Think of minor car and home repairs and unexpected bills. You really don’t need to take out tens of thousands of pounds worth of finances to address them right? What you need is a loan that can give you just the right amount and can be paid back in a shorter duration so you don’t have to stress yourself out from a lifetime of monthly payments.
What are Short Term Loans?
Short term loans are ones that you pay off within a short period of time – usually a few months up to a year. When you repay them, you repay both the interest and the loan amount itself.
What makes PM Loans a good choice?
We at PM Loans, strive to be responsible lenders which means we try to help you out of financial problems rather than contribute to them. This affects the way we lend to our customers. Instead of looking at your income, we look at your personal situation. Which means we may be able to offer to someone who even has a poorer credit history.
Here are some of our benefits:
- Fast and Easy Application. As the loan only has a maximum duration of 12 months, the amount that you can obtain for is usually smaller compared to long-term options. Because of this, the application process is fast and lenient.
- Instant Access to Money. Aside from the fast and easy application, the transfer of funds is also very quick. Once your application is approved, funding is released immediately so you can use the money to cover those emergency expenses.
- Fewer Restrictions. Not only is the application and approval process fast, qualifying for a short-term loan is also seamless. This is because you are not borrowing an enormous amount which is also an enormous risk for the lender.
Short Term Loan: FAQs
Are short term loans more expensive?
In terms of monthly repayments, short term loans can often be more expensive than other loans. Depending on how long the loan is repaid for, other loans can sometimes be more expensive overall, but with lower monthly repayments. One thing to remember is that, with short term loans, you’re repaying the amount owed more quickly.
How long are short term loans for?
There’s no defined amount of time for a short term loan. It’s a term that can be used for payday loans and instalment loans for anything up to a year. Generally, if it can be measured in a small number of months or weeks, it’s probably a short term loan.
How do you apply for short term loans?
You can apply for them online, usually by filling in an application form with your personal, bank and employment information.
Applying for a Loan
As stated above, if you need a loan and are thinking about choosing PM Loans, you can apply today. Our loans are ideal for short term financial problems, but if you have a long term financial need or are experiencing financial difficulties, we suggest you seek free and impartial debt advice – from the likes of the Money Advice Service – before considering a loan.