A short-term guaranteed approval loan is a loan that is usually repaid within a short period. Of course, there are exceptions, but most short-term loans are paid within a period of four months to two years. Short-term loans are also often for smaller amounts, ranging from $100 to $1000. These loans are intended to help cover an unexpected expense that needs to be taken care of immediately. Another feature of a short-term loan is its approval time. Since these loans are for smaller amounts, it is often faster to get approval. Depending on your lender, you can expect funds within anywhere from 24 to 48 hours.
A short-term loan can provide you with money to cover any of the following circumstances:
Vehicle expenses or emergencies Medical problems Unexpected travel costs Property damage payments Pay the rent Help break the payday loan cycle
As you can see, a short-term loan can be used to cover any of your current financial needs. Because lenders don’t necessarily base themselves on your credit score to make their decision, you’re guaranteed approval.