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There are many different aspects of short term loans to consider before deciding whether or not to borrow one.

Advantages
  • They are quick and easy to apply for
  • You can apply for them online in just minutes
  • You will receive your money the same day you apply - sometimes in as little as one hour
  • You can apply for up to $1000
  • Treat short term loans like a cash advance - borrow the money then pay it back when you get your next paycheck
Disadvantages
  • short term loans come with fees and high interest rates
  • if you fail to pay back your loan by the due date you will be charged with more fees and more interest
  • if you fall behind on a short term loan you may end up paying more money in fees and interest than the total amount you originally borrowed
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Wiki User

14y ago

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