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LOS ANGELES – October 5, 2021 – (Newswire.com)
iQuanti: Online loans can be handy if you need cash quickly. You can apply from the comfort of your own home and you can get the funds the same day you apply. But since there are so many options to choose from, you might be wondering which loan is best for you. Here are three short term loan you can consider and what they are best for.
Three Short Term Loans You Can Get Online
Installment loans
With installment loans, you will get a sum of money that you can repay in fixed monthly installments or installments. These unsecured loans have repayment terms that can range from a few months to a few years, depending on the lender and the terms of the loan. You can apply for and get approved for these loans online, and you may not need a good credit score to qualify.
Installment loans are a great short-term loan option if you need more cash, need to pay for home repairs, or want to go on vacation. If you are approved, you can receive your funds as quickly as the day of your request or within 24 hours.
Cash advances
Cash advances are small, short-term loans that can earn you money to cover expenses before you get your next paycheck. You can then repay this loan in two to four weeks, during your next payday. Many cash advance lenders consider factors in addition to your credit score when deciding whether to approve you, such as your income and work history. Because of this, you can get approved with poor or average credit.
Cash advances are useful when you need cash quickly, but remember that these types of loans can come with higher interest rates. Make sure you can repay this loan before you apply.
Securities lending
Title lending is quite common online and is a good way to earn extra cash without the pressure of immediate repayment. These secured loans allow you to use the title of your car as collateral to receive funds. After you complete an application, the lender will assess your car to determine its value. Then you can get a loan worth 25 to 50% of the value of your vehicle.
Before you apply for a title loan, make sure you can repay it. If you default, you risk losing title to your car and the lender can repossess the vehicle.
What you’ll need to apply for a short-term loan online
Before applying for a short term loan, be sure to do the following:
- Prepare your photo ID: You will need to upload your photo ID electronically for many loan applications. You may be able to scan it to PDF on your computer or use your phone’s camera.
- Prepare your payslips and W2 forms: These are documents that you can download electronically when the lender requests proof of income. Prepare them before you apply.
- Have a valid email address and phone number: The lender may want to be able to contact you and you will likely need to provide an email address when you register on their website.
Once you have all of these in place, you are ready to apply for a loan online.
Get a short term loan online today
You don’t necessarily need good credit to get a short term online loan. There are many lenders online who will approve you with a poor or fair credit rating. Research and compare lenders to find the right loan option for you.
Many short term loans online come with quick application processes, so you can apply in minutes from the comfort of your own home. If your application is approved, you may receive the funds the same day you apply so that you can cover your expenses quickly.
Note: The information provided in this article is provided for informational purposes only. Consult your financial advisor about your financial situation.
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Can I get a short term loan online?
