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What are the Features of short-term loans

Want to settle down past due bills, lacking behind land rents, or met with an emergency and have fixed to resolve the current situation with quick short term loans online? As the name suggests, these loan borrowings usually span a tenure of 3 to 12 months. Only some lenders might agree to 18 to 24 months. To quickly revive from this type of financial crisis, the best choice is a short-term loan.

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What are the Features of short-term loans

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  1. What are the Features of short-term loans? Want to settle down past due bills, lacking behind land rents, or met with an emergency and have fixed to resolve the current situation with quick short term loans online? As the name suggests, these loan borrowings usually span a tenure of 3 to 12 months. Only some lenders might agree to 18 to 24 months. To quickly revive from this type of financial crisis, the best choice is a short-term loan. Features of short-term loans Let's discuss the features of short term loans online for your better understanding of them. 1.Annual Percent Rate (APR) The Annual Percent Rate or the interest rate is the amount paid to the lender on the principal amount borrowed. The catch with the best short term loans is that they generally come at a higher APR. The main reason behind this is that the lender won't be able to meet his profit benchmark due to the shorter tenure. 2.Unsecured Loans The lender charges the borrower with a higher interest rate to compensate the no guarantor or zero collateral requirement at his own risk. The chances for the lender to recover the amount would be impossible if the debtor defaults.

  2. 3.Credit Score As there is no collateral linked with the short term loan, bad credit & direct lender, the borrower needs to have a good credit score. The borrower would be ineligible for a loan if they don't have any credit history. 4.Repayment Schedule Lenders may offer the borrower a monthly or weekly repayment schedule. Some are flexible, while some have fixed dates. As the borrowing loan amount is small compared to other loans, some prefer weekly instalments. We at Clixcredits, have a large panel of lenders who offer short term loans online with no guarantor required. You can borrow £300 to £5000. You can apply with us we will connect you to a suitable lender with a quick decision.

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