What are the Best Short-Term Loans?

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Managing your finances is one of the biggest struggles of the modern day, largely due to unstable economic climates, worker exploitation and higher rates of living. The modern man is susceptible to fall into the vicious cycle of debt. The rebound from debt to debt free is almost a Herculean task, but it is not impossible.

There are several reasons that make it difficult to rise above the debt trap. Occasionally, debt is accompanied with the inability to pay dues on time and maxed out credit cards. This leads to bad credit and lenders do not look kindly over potential borrowers with bad credit.

Companies overlooking applications due to bad credit, or stricter application regulations is why most people aren’t able to acquire adequate funds to pull them out of their financial pit.

This is where, they need to start looking for alternatives where funding is received almost faster and with lower restrictions towards acceptance. One such alternative is Short Term Loans.

Short-term loans, as the name suggests, are a variant of financing where the recipient receives their sum in a rather shorter period of time. This option is attractive due to the speed at which the lender is able to generate funds for the borrower. Qualifying for a short-term loan is more lenient as high risk and interest rate is involved.

This type of loan is accompanied by repayments that need to be repaid within the year, with almost small daily to weekly repayment cycles.

There are several short-term loan options out there. This article will help explain what you should be looking for and which companies are offering the best options.

One of the key factors that need to be considered before seeking out a short-term loan is the minimum response time between submission of application and acquisition of funds.

It is time to look at some of our options.


Money Mutual

Money Mutual is a free online market place that brings together potential lenders with the customers who are looking to borrow. The website itself is not the lender or involved in the lending process.

The website allows to sign up and sends that form out to potential lenders with loans going up as high as $2,500. If the lenders find you suitable, the website will redirect you to the lender to get you acquainted and the process will start.

Money Mutual is quick and reliable as its fund generation takes around 24 hours and is trusted by over two million customers.


With its support for a wide spectrum of credit scores and income, Upgrades loan options are quite appealing. It’s an online lending platform which lets the loan seekers to not borrow more than they can afford. They have an option, titled as the hardship plan, which has you covered in an event of a job loss. In such a scenario, you are entitled to a deduction on the monthly repayments or a permanent loan modification that effects the length of the loan.

But the service does have requirements that need to be met. Such as a minimum credit score of 620, a maximum income to debt ratio of 60% and a free cash flow of about $800.

The loan amount ranges from $1,000 to $50,000.

Fast Capital

Fast Capital is another online marketplace for potential businesses in search of easy access to a database of lenders. With a response time from a couple of minutes to access to funding within 24 hours is why it is one of the best reviewed websites. It is a nod to their dedicated support team that is expert in dealing with small business terms and loans.

They are not without entry requirements; at least six months into a business, 500+ FICO score and $6,000 monthly or $72,000 yearly revenue. With the loan terms ranging anywhere from three months to five years with financing up to $500,000.

Personal Loans

With the ease of online access, the search process of personal loans makes sure that your individual application will be assessed and presented with multiple lenders that are best suited to your situation.

An instalment loan comes with a required number of scheduled payments, the rates ranging between 5.99% to 35.99%, the length of loans lasting between 90 days to six years, and fund generation time of as soon as a single business day.

The exact conditions of the rate and loan length depend on your financial situation and requirements. The amount offered starts at $500 and go up to $35,000.


The RapidAdvance is regarded highly for its dedicate customer services and average rate of approvals on their loans. Their eligibility criteria demands business to be operational for at least two years and has an annual revenue of $120,000 at least. Yet, if the business owner has a longer time in the business, a 600+ range FICO score or above has a better chance of qualifying for one of the tailored loan categories which have a lower total borrowing cost.

Their median time between funding is around two business days, with the amount ranging from $5,000 to $1,000,000. The term length ranges from four months to 12 months.


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