Short-term cash loans are designed to provide borrowers with the funds necessary to afford emergencies or unexpected expenses between pay periods. They should not be utilized as a long-term financial solution. Cash loans are an alternative for individuals who have not been able to save an emergency fund or do not have access to other types of secured or unsecured lines of credit. Yourshorttermloans.com is not a lender nor does it provide an endorsement for any specific lender or financial institution that it matches an applicant with.
This site provides an essential service to those individuals struggling to make ends meet in the current economic climate. By providing basic personal information through yourshorttermloans.com, individuals are able to transmit their information and request funds in a secure manner. Given that the site is a neutral party for lenders, prospective borrowers can be assured that they are receiving favorable interest rates and terms for a short-term loan product.
Applicants are required to complete an online application form that requests personal identification information, employment history, and the requested loan amount up to $1,000. This information is then transmitted through a secure online encrypted system to several lenders to review the information and determine whether additional verification or documents are necessary. Minimum requirements to apply for the loan include at least 90 days consecutive employment at the current employer, United States citizenship or permanent residency, and a valid checking account for funds to be transferred to upon approval.
When a loan is approved, individuals are responsible for reviewing the terms and conditions of their loan. The cash loan site is not responsible or liable for any loan originated through the website as they are not employees or representatives of any lender in their network. Prior to receiving funds of a cash loan, borrowers should exercise caution and ensure that they understand the terms, conditions, penalties, fees, and when payment is due for the loan prior to electronically signing acceptance of the loan. Following completion of items requested by the lender, borrowers can expect a direct deposit to their checking account within 24 hours in most cases. Repayment of the loan is generally scheduled to be directly withdrawn from the customer’s checking account the next payday. In certain instances, repayment terms may be extended, subject to the lender’s discretion and policies.
Short-term cash loans are frequently the sole source of borrowed funds available to those with poor credit history and scores. Often, a credit check will not be completed on cash loan applications and underwriting decisions are instead determined by length and stability of employment and housing. If credit histories are pulled, Equifax, Experian, and TransUnion are providers of this information. Customers should ask potential lenders if this information will be acquired prior to providing authorization. Loan services are not available in all 50 states and current information can be viewed on the company’s website. Additional regulations and fees are found on the Rates and Fees website link.