What Are Short Term Loans?
Short term loans offer a quick way to borrow money from an online lender with minimal paperwork. These types of loans provide easy access to short-term financial relief for those looking for financing options. They are designed to be a fast solution, usually repaid in no more than a year or, sometimes, even weeks or months. This makes them popular among those dealing with any kind of emergency expense that needs to be covered immediately. Depending on the online lender you borrow from, you can access funds within the same day and get yourself out of a tight spot.
At City Finance, for example, you can get a short term loan approved in no time and receive the funds on the same day. The best thing about this type of loan is that they are fast and easy to access. You can apply online in minutes and have the money transferred into your account soon after. With this type of loan, you don’t need to make a long-term commitment and can simply borrow the money for a few weeks or months, depending on your specific needs. So knowing that you can access short term loans if you need them can give you peace of mind. You can also use these loans to bridge the gap between paydays or when you’re expecting a larger payment.
Am I Qualified for a Short Term Loans?
If you’re wondering if you can qualify for a short term loan, the answer is likely yes. With us, all that we need from you to determine eligibility is some proof of income and a valid form of identification. We also recommend submitting a few months of bank statements to grant us a more accurate assessment of your situation for us. The application process is relatively straightforward, requiring only a short online form on top of what was already mentioned before. So don’t be discouraged – chances are that if you meet these eligibility criteria, you’ll be able to get the short term loan that you need!
What Supporting Documents and Information Do We Need to Complete Your Short Term Loans Application?
At City Finance, we pride ourselves on making the process of getting a short term loan as simple and convenient as possible. Our online application form is intuitive, quick and easy to complete – but there are certain documents you’ll need when applying for a loan with us. This will help our team to process your application quickly and accurately.
Here’s what you need to provide when applying for one of our short term loans:
- A copy of your ID
- 90-day history of bank account transactions
- Proof of income (Eg a payslip or Centrelink income statement)
- A short application form with details such as your address and phone number
Having all the necessary documentation at hand will make the application process even smoother and faster, allowing us to approve your loan in no time at all. We understand that completing all this paperwork can be a chore, so it’s our mission to make sure you have access to cash fast, with minimal fuss.
What Can I Do With Short Term Loans?
Like any other loan, a short term loan can be used for many different purposes. Some of the most common uses for these loans include:
Home Improvement
Home improvement projects can be costly, so finding the right financing option is key. Fortunately, short term loans like personal loans are becoming increasingly popular for this purpose. These loans have many advantages over traditional bank loans, like lower interest rates and quicker processing times. And if you’re like most homeowners looking to make a home improvement, having access to the funds in a relatively quick and affordable way could be the best choice to get that project finished without straining your wallet.
Major Purchase
Making a major purchase doesn’t have to put your budget in jeopardy. Instead, consider taking out a short term loan; it’s essentially the same as an unsecured loan but with a shorter period of time to pay it back. That way, you can spread the cost of the purchase across a few months and make more manageable payments rather than having to pay for the entire purchase at once. This kind of loan could be ideal for a large purchase like a car, furniture, or vacation.
Emergency Fund
You’ve heard it before, but having an emergency fund can be essential to your financial success. A short term loan offers a simple way to get started if you don’t already have one – think of it as having that necessary safety net for yourself and loved ones during those unexpected moments life throws our way. Don’t wait until disaster strikes; make sure you’re ready with resources, just in case!
Business Expansion
With ambition and hard work, you can make your business vision a reality! But sometimes, it takes more than just driving to get things rolling. If you need an extra boost of funding for that amazing new location or upgraded equipment, don’t fret – with a short term loan at the ready, taking leaps in your business is easier than ever before. The thrill is real when it comes time for expansion; don’t let finances stop you from achieving even greater success!
Wedding
When you’re planning your special day, the costs can add up quickly. But don’t let that stress you out – simply get a short-term loan to manage those hefty bills! Instead of having one big expense at once, make payments over time and keep things more manageable for yourself financially. Now there’s less worry about going into debt in order to have your dream wedding – it’s possible without breaking the bank account!
Vacation
Planning a dream vacation can be exciting, but it can also be stressful, especially when you’re short on cash. Travelling doesn’t have to be expensive, though – a short term loan is one great way to help finance your next trip. With a loan, you can ensure your travel plans stay within your budget and spread out the cost of the vacation into manageable monthly payments. No matter where your wanderlust takes you, pick the payment option that’s best for you!
