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What Is The Difference Between Installment And Payday Loans?

Published on July 1st, 2019

Do you need a short term loan rate, but you are not exactly sure what kind? Short Term Loans offer two types of loans to help people cover any emergency or unexpected expense. At Short Term Loans, both types of loans follow the same simple process. Just submit a document for proof of employment and your loan will be granted if you meet our minimum requirements.  Follow these helpful guidelines and choose the best type of loan for your unique situation. 

 

Installment Loans

Installment loans are a type of loan that is repaid with a set number of payments over time. Get the money you need now and pay it back in a few manageable amounts. Most of our installment short term loan rates are paid in at least two payments. You can also pay the loan back in full at any time without penalty.

 

Payday Loans

Payday loans are small amounts of cash being loaned for a short amount of time. If you need cash for an unexpected expense, you can take out a payday loan that will be due in full on your next payday. 


You can choose to either pick up your loan in minutes at the nearest Western Union Agent or have the loan deposited directly into your account the very next business day. We work closely with our customers to find the right solution for every unexpected bill. Apply online or in-store for your loan today!  

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