Best Short Term Loans 2020

The perfect solution for people who suddenly finds themselves in an emergency expense that cannot be avoided or overlooked, for example, a home or car repair. It is also ideal for people seeking loans with a bad credit score. There are a few things to consider before taking out a personal loan, fortunately, we’ve provided any necessary information in our reviews so you can easily compare the different types of short term loans and their interest rates and terms.

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Been in operating since 1997

  • Customers may qualify for a loan, regardless of credit type
  • Large network of lenders and financial service providers
  • Certified by two independent services

No credit history needed

  • Repayments up to 36 months
  • No fees for using the website
  • Money usually deposited by the next working day

No prepayment penalty

  • APR can be as low as 2.47%
  • Lends up to $35,000
  • Secure and easy to use website

One of America’s most trusted resources for cash loans.

  • Fast online approval process
  • Lends up to $10,000
  • Large lender network
Rating: 4.3/5
rating: 4.3

Have your cash within 24 hours.

  • Can borrow up to $2,500
  • Trusted by over 2,000,000 customers
  • Quick, simple & secure process

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  • Applications are free
  • Privacy and Security are guaranteed
  • Approval within hours of applying
  • Only responsible lenders present


  • No Live Chat active
  • Interest Rates vary through lenders

Who better to grant you bad credit loans rather than BadCreditLoans themselves? Jokes aside, the website acts as a mediator between borrowers and lenders in the US. They do not lend you any money directly but simply redirect you to trustworthy lenders. They are part of the negotiations and the payout/repayment process, so clients on both sides can be calm regarding any short-term loans business.

One of the best things about BadCreditLoans is their ability to sift out and find lenders without “Credit History” requirements. This means that your credit score can be poor and still receive a boost up to get your routine in order. Aside from that, applications are placed extremely easy in less than an hour, even if you happen to need help with it. Their loan gap sits at $5000 which is enough to satisfy the term “short-term” loan.

Let’s look at what factors determine our Eligible status at BadCreditLoans. Yes, they have low requirements but those are still there and have to be covered. Starting with the credit rating, the company doesn’t expect you to be a perfect credit score holder. Even if your credit rating is extremely poor, you’d still be able to get at least a $1000 loan.

Naturally, only 18+ citizens are accepted as eligible borrowers. Social Security Number and/or proof of residence is also needed. So far, everything is normal. And it doesn’t get worse. As goes for monthly income, the provider doesn’t specify a minimum cap – they plainly need “a monthly income” of any volume to redirect you to a lender. Disability benefits count in this case, too.

An active transaction account will be asked of you, too. Telephone numbers of your workplace and home will be disclosed in the contract. They need to be able to reach you in case a lender tries to get a hold of you but fails. Vice-versa, they will also inform you of any benefits regarding your short term loan contract. Lastly, an email address finishes off the pack. is a responsive site with a user-friendly interface. Loan options can be found as easy as a child’s game while all informational pages and submenus are a click away. Filling out a form takes a few minutes, and both the acceptance and payout processes are conducted swiftly. You can literally request a loan and have it in your bank account on the next day. Bad credit personal loans are sometimes needed. And when you get them from a trustworthy service provider, they can be of big help.

Bad Credit Loans can be accessed on a range of mobile devices to optimize short-term loan distribution. They are available for iOS, Android, and Windows smartphones/tablets. Furthermore, both desktop and mobile versions are secured by standard data encryption so all your personal details and loan deals remain hidden from third-parties.

Cash Advance

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Cash Advance Review


  • Quick applications, payouts, and repayments
  • All financial transactions are safe, personal data is encrypted
  • Speedy approval, even for bad credit record holders
  • Transparent and user-friendly website


  • Some lenders have higher interest rates than expected
  • Lenders can be contacted only after presenting personal information

In the world of short-term loans, CashAdvance is placed on the top spots in the leaderboard. They are a dedicated loan mediator company, responsible for making contact between the client and the lender. Everyone can be present in an uncomfortable financial situation but the decision to go for short term loans is a tough one. However, having such providers like Cash Advance, users shouldn’t have much hassle in finding the most suitable lender out there.

The short-term loans aggregator operates on US soil but doesn’t lend out money directly to customers. They have a strong lender-guarantee policy, however, so any lender you pick will provide the necessary solutions to your problems. In addition, there are no application or transaction fees on – they are transparent about what they do and how they do it. You can even visit the site and check to see if we were right.

Alike all established loan service providers, CashAdvance don’t tire their customers with impossible requirements for application and acceptance. Logically, you need to be 18 years or older to apply for any loan there. furthermore, only US citizens and residents can benefit from CashAdvance features.

Going over to the more serious side, the vendor requires a minimum of $1,000 monthly income after taxes. This may be higher than some competitors but is still an industry average. Combined with the other good sides of CashAdvance, it is a nice opportunity to work with the platform.

In addition, clients need to present an active checking/savings account in order to deposit and receive transactions. Payout and repayments using CashAdvance are quite straightforward and happen seamlessly. The company also needs your email address and telephone number to keep contact and check if your short term personal loan is going great.

The customer base at Cash Advance is topping millions of users/lenders involved in everyday transactions. Most of the customer reviews on the Internet are highly positive, and just maybe, this provider has the business figured out.

All interface parts in the short term loan website are user-friendly. Finding the most beneficial lender for you is easy with the assistance of the responsive tabs and even the customer support team. Sometimes, we need a little help, and this is why they are here. Getting a vast list of trustworthy lenders happens in a matter of minutes and the process afterward isn’t that more complicated.

As for mobile compatibility, CashAdvance is advanced, to say the least. Their site is fully optimized to run on iOS, Android, and Windows browsers, be it smartphones or tablets. There isn’t much difference with the desktop version of the short-term loan mediator. The security and privacy levels in the company are also of the highest quality. All of your information is encrypted and stored away from thieving hands safely.


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MoneyMutual Review


  • Ease of use at any point of the loan process
  • Countless eligible lenders
  • Fair application requirements
  • All loan information is available on their site


  • Interest fees and special terms dependent on lenders
  • A few negative reviews on the web

Some never experience it, others stumble upon it once or twice, and others are quite familiar with it – the need to use short-term loans as a solution to a financial problem is real. And finding the right loan type and lender can be tricky. MoneyMutual is a short term loan aggregating service – they don’t directly lend you money but get you in touch with millions of lenders in the US.

The terms vary depending on each individual lender but you are free to choose the most suitable contracts. All lenders on are affiliated with the company after a thorough review of their business. Users can apply and gain approval almost instantly, it all depends on how fast can you type. Money Mutual also doesn’t require a credit history in order to work with customers. This is good news for people with bad credit record as they can also become eligible for a short term loan here.

The go-to rule in short-term loans is that even bad credit scorers get such loans. Some lenders even strive to lend money to this exact type of borrowers, for different reasons. Nonetheless, MoneyMutual has their own eligibility requirements and they aren’t at all heavy for the common user.

Citizens with a regular, monthly income of $800 or above can turn to Money Mutual loans for bad credit right away. After all, this isn’t the highest of salaries so more customers can benefit from the lenders at MoneyMutual. Of course, you need to be aged 18+ to apply for a loan, with a US residency in place.

A bank account is needed to issue and receive checks while all other possible requirements are dependent on lenders. They may ask for more details or they can be okay with the information provided by Money Mutual. In both cases, getting a short term loan at the provider is easier than going to a bank. However, you should treat it as a last-resort option as the interest fees on any such platform are usually higher than traditional loan services.

As applies for ease of use, MoneyMutual has developed an incredible website – all needed information and loan details are accessible once we create a profile and sign up. Application processes don’t require more than ten minutes, and lender correspondence can start instantaneously after that.

The website is available on desktop and mobile devices, with Android, iOS, and Windows being capable of running the site. The two versions are identical, with the mobile one having a higher number of responsive buttons to conduct any short-term loans. Even if you have an issue, you can always use the Money Mutual number to ask them a question or write an email/letter directly to them. Furthermore, security at MoneyMutual is considered a crucial factor so they encrypt all personal details and store them away from possible intruders.

The phrase “Short-Term Loan” can often bring up a reference to borrowing money from friends or family but they are still a legitimate option to resolve financial difficulties using respected vendors. While most business owners can benefit from short-term, medium-term, and long-term loans (be it from a bank of a loan provider), the first ones are reserved for small establishments and newly founded companies.

Yes, big enterprises can safely take out a huge loan over a decade of payment period but individuals and local businesses often don’t need such a big sum to keep them afloat. Short-term loans are usually used at the beginning of your chosen endeavor or in cases of seasonal work. Stocking up your physical/online shop before a holiday can need a financial boost but you can determine how quickly it can be repaid. Short-term loans require a certain amount of knowledge – both of your own business and the conditions under you will be asked to pay off the loan.


Most short-term loans tend to keep their repayment cap at one year at most. A respectable percentage of those are available for under twelve months of payouts, and this makes them quite a suitable pick for unexpected bumps along the way of our empire creation. The most common timeframe of short-term loans is set between 90 and 120 days.

An instant need of refinancing a business couldn’t come much easier than with those type of loans. In addition to that, the faster we repay what’s owed, the less interest we accumulate. And while long-term loans can carry a seemingly low-interest rate over years of time, short-term ones are guaranteed to swiftly come and go.

What more do you need to know?

As we have briefly mentioned, getting your hands on a short-term loan is situational, especially when it comes to seasonal businesses. If your company relies on purchase/service spikes during a certain time of the year, some refinancing injections may be more than welcome to increase your overall revenue in the long run. Yes, even if it is a short-term loan, it will affect the bigger picture, too. Having a stocked storage space week /months before a timeline event – Easter, Christmas, Summer Break, New Years – is not only handy but eliminates the need to turn back customers due to out-of-stock items list.

On another note, small business owners can sometimes struggle with payroll expenses and other utility bills they face. Short-term loans come to the rescue again as they are easy to attain and don’t cost you that much when repaying them. Even in cases where we have the money aligned from pending customer transactions, it can be better for everyone in the company to just take a short-term loan and pay it off immediately after our funds reach the bank account.

Furthermore, short-term loans can be quite simply used to cover personal financial deeds. Do you have some bills piling up? Or do you need to buy presents for a bigger family gathering? Is your credit balance is on the breach of going bad? All of those can be handled by a short-term loan. The important thing to keep in mind is the set period of those loans. Quick repayment means fewer nerves to deal with but going overdue can result in much higher interest rates than expected.

If you want to qualify for a short-term loan, you will be pleased to see that the requirements here aren’t so harsh. Of course, the usual is present – we need to be ready to share some essential financial information to the lender, be it a bank or a dedicated loan vendor. Payment history records, ongoing loans at other establishments, cash flow company history, and an income statement to prove that we are capable of paying off the loan.

Another thing to add is the different security types of the short-term loan – collateral makes it easier to acquire the loan but we can go without one, too. Unsecured short-term loans are harder to grasp but a simple signature can change that. Along with our intention to keep if professional and conduct loan transactions regularly.

As goes for interest rates, short-terms are (understandably) coming with higher interest rates than long-term ones. This, however, is a statistic regarding a normal economy state. In times of recession, short-terms can beat long-term loans when we discuss interest rates. Here, we have a main interest rate fee along with a premium amount to be paid off. The latter is calculated based on your credit history and business type (if applicable). The higher the risk for the lender, the bigger the premium will get. Simple math.

Different loan providers offer varying interest rates on their short-term loans so it is best to discuss them thoroughly with them before signing anything. Every loan officer will be more than glad to inform you of the various approaches to calculating interest rates so make sure to gain as much of this knowledge as possible.

The Benefits

Short-term loans pack some serious benefits to their nature. A swift distribution of money stands on top of the list as it gives us the needed freedom to pursue our projects without having to save up and start anew. They can also be acquired without geographical restrictions (in most cases) which grants an additional level of freedom when resolving our financial issues.

What is more, the requirements to gain a short-term loan are way less tough compared to long-term ones. Minimum amounts of background information and collateral needed turn short-term loans into a quick solution for many small businesses without much hassle. Especially for confident, sensible owners, those type of loans can earn you the needed feel of security without sacrificing the productivity of your business.

Same-day Approvals are another trick up the short-term loans’ sleeve. And maybe the most crucial one, as smaller sums are usually needed right away to deal with financial trouble. With an approval period of less than a day, short-term loans are leading the way when it comes to reaction times.