Short-Term Loan Advantages
One of the most common short-term loans are installment loans. Payday loans are short-term cash advances that range between $300 up to $1,500 depending on your needs. Apply Here
Short-term loans actually have their advantages:
1) Direct Deposit
Most short-term lenders can deposit funds directly into your checking account as soon as the next business day.
2) Instant Access
You can use the money from a short-term loan for any expense such as medical bills, car repairs, rent or groceries, among others.
3) Flexible Repayment
You can repay short-term loans in full or multiple payments.
4) Flexible Repayment
Short term installment loans might only need the following documentation: state issued ID, proof of income, bank account information and an active checking account where your salary is directly deposited every month.
The following is a list of some of the biggest advantages that Installment Loans have to offer when compared to other methods of getting cash when you need it the most
1) Quicker Lending Decisions
One good thing about Installment Loans is that they will generally get you a decision much quicker than any other type of loan product. Installment Loans often take less than 24 hours to be approved and they are funded as soon as the next business day.
2) Installment Loans are Easier to Qualify For
Another advantage of short-term loans is that they are much easier to qualify for than traditional bank loans. A lot of people who cannot qualify for other lending products out there can still be approved for Installment Loans. Installment Loans typically base their decision primarily on your gross monthly income, versus looking at factors like credit scores or the purpose of the loan. This is beneficial for many borrowers.
3) Installment Loans Close Fast
Installment Loans also close fast too. The process for Installment Loans is usually completed online. Installment Loans are often completed in a short period of time compared to other types of loans, which can take days to finish the entire process.
So, considering what is described above short-term installment loans are advantageous over traditional short term loan providers. If you’re interested in applying for a short-term installment loan visit MyFundingChoices.com.
You can also learn more about short term installment loans on our website MyFundingChoices.com or contact us @ (866) 949-5040. You can also reach out to us via email @ [email protected], for more info.
So, if you’re in need of some quick cash, a short-term loan could be the perfect solution for you. Just be sure to read the terms and conditions carefully before you apply, so you know exactly what you’re getting yourself into.