Short term payday loans are the easiest way to get the money that you need to handle unexpected expenses or bills. They can get you the money that you need quickly and allow you to relax. If you need several hundred dollars, up to $1000 and can pay it back on your next payday, then this type of loan may be for you. For fastest results, use our online form to apply now and get the ball rolling on your loan.
If you have never taken out a payday loan and are inexperienced in how they work, you would be wise to educate yourself a bit before you begin. Below you will find some information that you may find helpful. Read it and if you still have questions, contact us.
Short Term Loan Basics
First, what exactly is a short term payday loan. It is a loan available to people in Seattle that is due to be paid back within two weeks, in most cases. You can use it to borrow small amounts, usually under $1000. You can use your loan money for anything although it is in your best interest to only take out one of these loans to pay for emergencies.
The great thing about this type of loan is that it is easy to qualify for. Even with bad credit, you can qualify most of the time as long as you have a job and a checking account. In addition to easy qualifications, these loans also fund very fast. You can get your money as soon as the next business day, and it will be deposited right into your account.
There are some things that you need to consider when looking for a short term payday loan. The biggest thing is the fees attached. They are based on the dollar amount borrowed, so for every $100 you borrow, there will be X amount of fees. When you calculate the annual percentage rate, based on the amount and the short loan term, the percentage rate is sky high. You must also be sure that you will be able to pay back the loan when it is due. Since the term is short, you will only have two weeks or less to pay it off.
Before Accepting A Loan
Before you accept your payday loan you should do two things. First, you should consider the cost of the loan versus the potential fees and late charges that you would otherwise pay. You should also be sure to read all of your loan documents so that you know exactly what you are agreeing to.