The Secret Superpowers Of A Short-Term Loan

Short-term loans can be great. Or they can even be greater. Your ideas on their definition and usage can unlock their superpowers. All you need to do here is to understand this kind of loan better.

We are one of the private lenders, and we can tell you more about a short-term loan if you listen to us with increased attention. We have been offering this kind of loan not to people only but to businesses – both small and large – and found out how versatile this product can be in the hands of the ‘aware’ end user.

We have designed it to be a simple and quick loan offer. However, from our experiences, we can tell short-term loans in Ireland can be quite versatile. A borrower can find a short-term loan less stressful and more helpful in various scenarios.

What Are the Features of a Short-Term Loan?

Most short-term loans are special and meaningful because they have been designed to meet more than one need of the borrower. We shaped our loan product to offer it for any quick or fast money requirements. Before we tell you the features of the loan we have created for you, a little information on its basic definition can help.

As its product name suggests, a short-term loan is given for a short period. It means the term length with a short-term loan is relatively shorter than a long-term loan such as a mortgage or a car loan. In its core form, a loan of this kind is lent just like a personal loan is given. In summary, the short-term loan then comes out as an unsecured loan in a shorter term.

Do you need this unsecured loan? Or is it only for quick funding needs? Would you turn your head towards this product? We discuss the answer in the next point of this post. Till then, we would like you to understand the features of our product:

• The term length is shorter. You can still extend it to a certain time span we allow.
• We do not need collateral details for it.
• The short-term loans we offer are fast to get you the approval.
• You can find this loan in a variety of ways.
• You are free to use the loan in the way you want.
• We won’t be troubling you with unbearable interest rates or strict repayment boundaries.

A short-term loan majorly works considering the statement of your income. You can share your income details with us to help us understand if you can repay the loan in the set instalments. If this simple point about loan affordability is cleared, then you can rest assured that we are lending you the money.

What Are the Superpowers of a Short-Term Loan

Not exaggerating the loan and its benefits, we can tell that a short-term loan might be one of the most accessible loan options out there. Compared to a secured loan or even a long-term personal loan, a short-term loan can help you manage a financial requirement better. The points mentioned below can delineate this fact better:

1.  A Short-Term Loan Can Work the Best for Emergencies

When you have an emergency funding need, you lack time to go through a lengthy verification process for a loan. Simply put, you need to apply hassle-free and get the loan disbursed in your bank account.

We made a paperless application form for our short-term loans, which can help you the best in making a simple application. Due to not being a secured loan, the product does not naturally need a long verification period for collateral and other details.

You can take out the money with your income details. Send us the income statement, and we will go through it to find your loan affordability and offer you the loan approval. You may then get the money very soon transferred to your bank account.

2.  This Loan Does Not Require You to Bring a Co-Signer 

Often borrowers think that a short-term loan is an easy loan. Therefore, the lender might mandate a guarantor or a co-signer, if not collateral. We can also help you stay relaxed with this matter. Our loan products neither need collateral nor a co-signer. You make this deal with us directly without any influence from your end. Your loan is based solely on your salary amount and documents. With these things, you can take out a loan anytime you want.

3.  Short-Term Loans Can Help the Unemployed

Losing your job is painful. Troubles in this time come in the form of urgent and unavoidable payments such as paying utility bills or buying supplies. You cannot avoid these payments yet you do not have income or a promising source of earnings.

You can, therefore, take one of the short-term loans for the unemployed and buy yourself time to pay for these urgent needs. By this time, you can look for a job and pay us back with the salary of it. Again, you may repay us even faster with alternative income, such as part-time or freelance income.

4.  These Loans Does Not Have Small Borrowing Amounts 

By the product name, a common misconception can arise. You can misread the product, thinking you can only access limited funds using this loan. At the same time, it is a natural way people can think, the true meaning of it is a loan with a shorter term length. It is not, at all, a small loan.

Of course, short-term loans do not come in skyrocketing amounts. However, it does come in considerably high amounts, different from small loans. Learn more about them on our website.

5.  The Obvious Perk: Bad Credit Score Won’t Stop Your Loan

As mentioned earlier, the short-term loan works according to your salary information. We will make a soft credit check even if you have a bad credit score. It is the kind of credit check made formally to understand your loan needs and suggest the best product. It does not have a direct connection with the lending process.

To Conclude

Now that you know how a short-term loan can help you in many situations, you would want to take one out. We recommend you learn more about them from our website to make an informed decision. If you need a conversation with us, know we are more than willing to participate.