Short-Term Loans Online: How to Use One During Emergencies in 2023
Needing money ASAP is a tall order you need your loan fast and with as few requirements as possible. Banks and credit unions have high chances of refusing such an order. Some lenders may not be keen on extending a hand to you. But not at AdvanceSOS. Here, we cater to short-term needs with our short-term loans.
We offer fast and safe loans that you can use for whatever cash emergency. Get the help you need 24/7 wherever you are, so you can attend to your loved ones in need. Get connected to the top direct lenders near you who have your best interests in mind and the lowest rates ever. Apply for an AdvanceSOS short-term loan online today!
What Is a Short-Term Loan?
A short-term loan is a small-dollar unsecured fast cash loan. Short-term loans are also called payday loans because they are due on your next payday. You must pay for the loan all at once on its due date.
Small-Dollar
Short-term loans are small-dollar loans that typically offer between $100 to $1,000 only. The amount can vary on which state you live in as some states lend more than others. In all, a short-term loan is best for a cash emergency that only needs a small amount of cash to cover.
Unsecured
Short-term loans do not need collateral or a cosigner to get. Thus, it’s unsecured. In the worst case where you default on your loan, your lender cannot seize anything from you. Your car stays in your care and your relatives will be unbothered by your loan. That’s it the loan does not have security that your lender can take instead if all else fails.
Fast Cash
Short-term loans are best known as fast cash loans. Without the need for collateral or credit checks, lenders release them faster. You can get the money within 24 hours, sometimes even earlier.
How Do Online Short-Term Loans Work?
Application
You send us your loan request and requirements through our online portal. Let us know:
- How much you need (loan amount).
- When you’ll pay back the loan (due date).
- Which state you live in (zip code).
The requirements you may need are:
- Proof of identity – A valid ID that shows your face, full name, and birth date will do.
- Proof of address – A utility bill or rent receipt from your landlord.
- Proof of income – Latest pay stub or income tax return.
- Proof of account – Bank statement or letter of acknowledgment from your bank.
- Personal contact details – Phone number + email address.
This should take no more than ten minutes for you to complete and submit. Once we receive it, we will check your application before matching you with a reliable lender. We will sift through our network to find lenders who have top deals for you. Then, we’ll match your requirements with theirs.
Approval
Your potential lenders will receive your application for screening. Once we get an okay that they have a great offer from you, we will see which one is the best. We will send you the top loan deal that is already pre-approved. You should have your loan approval within two to four hours.
Once you see the offer on your screen, you’re already one step away from getting it. Sign the contract and we will begin processing the cash release.
Withdrawal
Once we have your signed loan agreement, we coordinate with your lender to release loan funds. This step should not take more than one business day, but could extend to the next day if you file later in the day. Within 24–48 hours, we will let you know when you can withdraw your funds.
Where Can I Get a Quick Short-Term Loan?
Payday Loan Stores
You can go over the counter to some payday loan stores near you. If you can find one, they should be open by 8:00 AM or 9:00 AM. You can queue, fill out a loan request, then wait for a callback if they have a loan for you. You can repeat the process for the next store until you get a call for approval.
Direct Lenders Online
Or you can get an ultra-quick short-term loan online like here at AdvanceSOS. Find direct lenders online ready to offer you a loan 24/7, with no need for you to get up where you already are. You only need your device and internet connection to access thousands of loans at once.
What Are the Benefits of Short-Term Loans?
Easy Application
It’s easy to get a short-term loan at AdvanceSOS. There are no extra steps or unnecessary requirements. Without the time-consuming hard credit checks, you can get in and out of our online form within ten minutes. After that, it’s all up to us to do the leg work for you.
Quick Approval
We don’t drag out your approval. Once we get the all-clear from your lender, the money is yours. Plus, we’ll keep you notified via phone or email as soon as we have your offer ready for you.
Fast Withdrawal
No need to wait for your lender to hand your check to you in person. Using only the ATM card that you already have, you can access your funds wherever you are. No more hassle.
No Faxing, All Online
Stay at home or wherever you are. Say goodbye to the faxing of the past and enjoy present technology. Apply for your loan, get approval, and withdraw easier online. Get the help you need 100x faster because you have everything at your fingertips online.
Frequently Asked Questions
Are There Short-Term Loans Online With Same-Day Payout?
Yes, short-term loans online are the same as same-day payout loans. The key link between them is the timing and pace of the processing. Follow our tips below and getting same day payout should be a piece of cake:
- Apply as early as you can in the day. Our offices are open from 8:00 AM to 6:00 PM CST from Mondays to Fridays. Applying before 2:00 PM increases your chances of approval. This gives us enough time to finish everything by 6:00 PM.
- Avoid holidays and weekends. Although we are open on Saturdays from 8:00 AM to 2:00 PM CST, banks are not. Even if your application gets approval early, your bank cannot release funding. The same goes for holidays, which will delay releasing to the next business day.
- Follow instructions carefully. Our steps work best when followed as close as possible. We can serve you faster if there are no hiccups we need to address later. Double-check all your entries and submissions to ensure you don’t have to do them again and cause delay.
- Submit documents fast and right. The faster you follow the requirements, the faster we can check and approve them. Also, make sure your documents are readable before submitting them to avoid any delay.
- Keep open lines of communication. We at AdvanceSOS or your lender may need you for clarifications or updates about your loan. Keeping your lines open while we process things can ease the release of your loan. The sooner we clear things up, the sooner you get your money.
How Much Does a Short-Term Cash Advance Online Cost?
The answer to this question is divisible into two parts. First, you deal with us, AdvanceSOS, to match yourself with a lender who has your best interests in mind. Second, you deal with your lender, who will serve you with their loan offer until you withdraw it and use it. The cost of your short-term cash advances also differs in the first part and the second.
AdvanceSOS
At AdvanceSOS, the cost of our services is zero. You can inquire, request, and apply for our loan with us with no service or connection fee. We connect you with the lender you need. Once your loan is successful, we get a commission from your lender not from you. So, you can use our lending portal as many times as you need to find the perfect loan deal for you without worry. Even if you walk away from a loan offer and have not signed anything yet, you’re fine.
Direct Lender
The cost of your loan with a direct lender will differ. Costs can depend on what state you live in, how much you’re asking, and the strength of your documents. The best thing you can do is find out the typical payday loan rates in your state then compare. Nonetheless, here at AdvanceSOS, you can leave this up to us. We find you the top loan rates near you, and only pair you with a loan deal with low rates.
Can I Get Online Short-Term Loans With No Credit Check?
Yes, you can get a short-term loan from AdvanceSOS without the need for a traditional credit check. No more waiting for credit reporting bureaus to produce your credit report. Your lender will not review your credit score and your loan will not affect your credit history.
Your lender will only do a soft check of your basic personal details. The check will only run your valid ID, proof of address, and proof of income. If your lender can verify you are a real person and not a scammer, you’re good to go.
Can I Get a Short-Term Loan With Bad Credit?
Yes, you can avail our short-term loans even with bad credit. We have direct lenders who specialize in lending to bad credit borrowers, so this will not be a problem. You do, however, need to follow our instructions as close as you can to ensure guaranteed approval. If your lender asks you for extra documents, follow that as well.
Bad credit is not a problem here at AdvanceSOS. We don’t let your financial past get in the way of you setting up a bright future. All we care about is that you can repay your lender right. If you have the income to support your future repayment, you have a high chance of getting a loan easy as that.
What Are Short-Term Loan Alternatives?
Short-term loans are great, but like any other financial product, it does not fulfill all needs. Still, there is no need to worry because there are many other options for you. First are installment loans. Installment loans are great if you need more money and a longer repayment method. An installment loan can offer you more than $1,000, payable in 24 months. But approval can be trickier for installment loans and slower than short-term loans.
The second option you can go for is title loans. Title loans are great if you are not confident in your income but have a car title that you can surrender. You can exchange your car title and other documents with a lender who will take them as security. You may need to bring your car in person for evaluation, but the title should already get you somewhere. The key thing you must do to stay safe with this option is to find a legit lender who will not rip you off. This is why it is key to go through AdvanceSOS.
You can also go for payday loan apps as your third option. Payday loans apps are great for accessible, fast cash loan services that you can find a surplus of online. You only need your mobile phone and you can get small-dollar loans, ready for your use. The thing to look out for in a payday loan app is its legitimacy. Some apps may only be using the “payday loan” part as a front to take your information for use without your consent. To avoid this, always look for third-party reviews and know more about the app before using it.
