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Frequently Asked Questions

Shorttermloans.com referral services are provided to you absolutely free. We do not charge you any fees for referring you to a lender in our network. Please remember that Shorttermloans.com does not make loans nor do we broker loans outside the State of Illinois and as such, we have no input in whether you are accepted or the terms of your loan. Our referral service is limited to taking the registration information and searching our network of lenders to introduce you to a lender with a loan that may suit your needs so that you can submit an application directly to that lender. For this reason, it is important that when you register, you provide accurate and complete information to us. After we have found the lender, you will be contacted directly by that lender who will inform you of your loan approval and give you the terms of the loan including the interest rates and fees that you will incur during repayment as well as the repayment period. Remember, at any time you can leave the process or reject the loan without any penalty to you.

We know that most new customers have a few questions about the Shorttermloans.com process, so we've gathered the most common ones together here for your convenience. Just click on the question and it will take you to the answer! If you feel you would still like to ask further questions then we'll be happy to answer them for you. Just click on Contact Us and fill in the form. Please allow 48 hours to receive an email response.

  1. What is a Short Term Loan or Payday Loan?
  2. How much can I borrow?
  3. Do I qualify for a Short Term Loan?
  4. What if I have bad credit?
  5. How much does it cost?
  6. How long does the process take?
  7. Is my information secure?
  8. How do I repay my loan?
  9. What if I'm late in repaying my loan?
  1. What is a Short Term Loan or Payday Loan?

  2. A short term loan or payday loan is a small loan, usually between $100 and $1000, that gives you the cash you need to cover expenses until your next payday.

  3. How much can I borrow?

  4. You can apply for as little as $100 up to $1000. The amount that you are approved for will Be determined by the lender assigned to your application.

  5. Do I qualify for a Short Term Loan?

  6. To be considered for approval all you need is:

    • To be employed for at least 90 days
    • To be 18 years of age or older
    • To have a monthly gross pay of at least $1000/month
    • A current home and work phone and valid email address
  7. What if I have bad credit?

  8. No problem. Bad credit will not prevent you from being considered for a payday loan from our network of lenders.

  9. How much does it cost?

  10. Shorttermloans.com does not charge you any fees for referring you to a lender in our network. There is no cost until you agree to and electronically sign the loan documents provided to you by the lender assigned to your application. Your lender will notify you of all fees when your loan has been approved. Please review your loan documents carefully and make sure you only borrow what you can afford to repay.

  11. How long does the process take?

  12. It only takes a few minutes to submit your application. Approval times will vary depending on the lender assigned to your application. Most lenders can have yours funds deposited in your account within 24 hours.

  13. Is my information secure?

  14. Yes. Shorttermloans.com uses industry standard SSL encryption technology to protect your data. You can find more details by reading our Privacy Policy.

  15. How do I repay my loan?

  16. Your loan amount and fees will be automatically withdrawn from your checking account on the due date. Depending on the laws in your state, you may be eligible to extend your loan. Additional fees are usually due on extensions. Contact your lender for more information.

  17. What if I'm late in repaying my loan?

  18. The payday loan lenders in our network follow different policies regarding late payments. You should carefully review the late payment policies specified in the lender's loan documents before you agree to them.