In this article, we will explain short term loans and how these loans work, features of cheap short term loans, and what you should avoid. A short term loan is one which is paid back soon after you receive it, often from your next paycheck. They are intended to be a short bridge to cover emergency expenses like a car repair, late utility bill, medical expense, and so on. These loans are often called payday loans because you pay it back on your next pay date.
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