Where to Get a Short Term Loan?

From time to time, it may be necessary to get a quick loan.  If you’re short on cash and have bills to pay, you may need to get a quick cash infusion to make it to your next pay cheque.  That is where a fast loan can come in handy.  However, if you’re never got a short term loan before, you may not know where to get a loan.  Furthermore, if you don’t have a great credit score, getting a loan like this may be your only short term loan option.

Short Term Lender

The first, and most traditional place to start looking for a quick loan of this kind is a traditional loan shop.  You’ve probably seen these shops all around town – they’re just like banks, except they advertise short term loans and cash advances.

Treat these places just like your local bank, but make sure that you bring a few important documents: your identification (or two types, depending on your lender or location), a chequebook, proof of employment, and possibly an old payroll check.  These are what the lender will use to decide on whether to give you a loan.

Online Alternatives

If going into a shop for financial help seems daunting, there are now a lot of options on the internet that offer many different loans, but with the added convenience of being in your house while doing it.  For example, you can get a short term loan from an alternative provider like Wonga.  You still need to fill out an application, but you do it on the internet at home.  When it comes time to fund your loan, the company will deposit the money directly into your bank account.  By being at home, you can take care of your finances in private.

Your Bank

Finally, many local banks and credit unions have started offering small personal loans for their clients.  It is important that you are a client of the bank, but some banks are now offering them.  This can also add convenience if you are looking for a short term loan.