If you have never had a short term loan before, then you may not know how to go about getting one or you may wonder if there are alternatives to the way that you have applied in the past. There are actually several ways that you can get one and they are all very simple.
For most lenders it is possible to apply for a short term loan online. This means that you just have to go to their website and fill in some details and you will be able to easily find out whether you have been approved for the loan. It is not normally necessary to give a lot of information and the lenders make the forms really easy so that it is quick and simple to do. However, some people do not like forms or feel confident doing things like this online. This is why it is also possible to apply by telephone.
Most of the companies will have a customer service line which you can call and discuss your requirements. They will take all of the necessary details and fill the form in for you at their end. This might be quicker in some cases as well, it depends on the company that you are dealing with. There are also some people that will deal with you face to face. You can go into a branch and apply for a loan form a person behind the counter. This can be even easier than doing it by phone. You will also be able to ask any questions that you might have, which can be easier for some people if this is done face to face.
You will need to supply a certain amount of information to the lender. They will need to know how much you want to borrow, which can be a big decision in itself. They will also want to know what income you have so that they can make sure that you have the means to repay the loan. You will need to work out a repayment plan and let them know when you need the money. You may need to provide proof of address, a bank statement and a pay slip, but this will vary between lenders. This information can be faxed if you are applying online or by telephone.
The approval process will usually be quick because no credit check takes place so they will just need to check your application and documentation. Often this can be done in a few hours but it may be even sooner, which means that if you need the money really quickly then this can be a useful method of getting it. Most borrowers are approved, but you will need to go through these formalities first as they will want to make a few checks. If you have had a short term loan before and did not repay it when required or if you have another short term loan then you are less likely to be approved, so you will need to bear this in mind when you are applying.