Something small in size can be of big benefits – Introducing Short-term loan facilities
What are Short-Term Loans?
Many online lenders lend quick cash to the distressed individuals who are in dire need of money. The term of such loans are short and comes with a low-interest rate and simple repayment. At Snug Loans, we help people find out the right lender in their state to make the process of lending and borrowing an easy one.
Money with remarkably low APR
Short-term loans online in all parts of United States as quick payday advance. The interest rates on such loans are not constant. Therefore, if you need of such funds, you must survey the market and know the interest rate in your locality before you apply for the loan. In the traditional financial institutions like banks and credit unions that charge less interest, you may have to encounter issues like overdraft fees, bouncing checks, credit card late fees etc. which is likely to surpass the cost of annual percentage rate (APR). Again such institutions require the borrowers to complete huge paperwork and other formalities before issuing the loan, making the process lengthy. However, with short-term loans you would get fast cash transferred to your checking accounts in few business days.
You Are Not Going to Pay More
You may have noticed that not all the lenders charge same rate of interest. Have no worry about that. There is no way that they charge more than what they deserve from you as the legislation is very much strict about the APR. It keeps a close eye on to ensure that the private payday lenders don’t charge more that what is set by legislature. Since there is a strong and strict regulatory authority behind such transaction, you can be rest assure that your personal interest will be protected and if you borrow such a loan even for a small amount of time, you won’t have to pay any extra fees or hidden charges.
APR Rate Calculation
Borrow $200 for 14 days with a $30 to $60 lender fee, the estimated APR will be 391.07% to 782.14%
Calculation: (lender fee / loan amount) x (amount of days in a year / duration of the loan) x 100
Low End of Range: ($30 / $200) * (365 days / 14 days) x 100 = 391.07%
High End of Range: ($60 / $200) * (365 days / 14 days) x 100 = 782.14%
Three Steps and You are Free from Debts
Applying for short term personal loans is simple. Neither you need to wait nor need to do huge paperwork. Just fill out a simple online form and get your money deposited in any active bank account within few business hours. In the case, a lender rejects your request we will look after the matter and try our level best to get an approval. With our efficient team of customer care representatives, we maintain complete transparency about every single deal and keep our customers informed from time to time. To get a loan, you need to follow these simple steps -
- Fill out application
- Submit it and wait for approval
- Get the fund deposited into bank account
Benefits of Short-Term Loans Bad Credit
- Reduced paperwork
- Far less documentation
- Fast approval
- No collateral
Contact lender as soon as possible if unable to repay your loan on the scheduled repayment date. Your lender will set their own late payment fees following the state regulations. There are several ways to combat late payments on cheap loans, for further information contact your lender.You would need a short-term loan to meet the urgent financial need without harming your credit score that damages by non-payment of bills. So taking out a cash advance can keep you from putting your reputation at stake. Contact us for further queries on short-term personal loans.