Short term loan

Short term loans or tide-over loans are loans that are repayable over a short period. They are usually for a relatively low value, under £1,000.

There are two main forms of short-term loan. The first type is a loan that is taken out over a matter of days or weeks, often then repaid on payday or when pension or benefit payments come in. The other sort is a loan taken out over a series of months, but generally less than a year.

Short term loans are often used as a cash advance loan and can enable borrowers to borrow and repay quickly getting them out of cash flow problems.

Short term loans can be very useful if an individual receives an unexpected bill and has no other means to settle it.

As with all short term or low value loans it is vital to meet the repayment schedule to reduce the amount of interest you pay.

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