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Short Term Loans


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This is a short little presentation about your options when choosing a short term loan for your particular situation. Please join me in taking a short tutorial of what you can expect if you find yourself in an emergency situation.

Published in: Economy & Finance, Business
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Short Term Loans

  1. 1. Consider Your Options
  2. 2. • Things to Consider if you need a short term loan• Do you have bad credit• Do you have a steady Job• Do you make at least a Thousand dollars a month• Do you have a checking account
  3. 3.
  4. 4. Difference Between Secure and Unsecure LoansSecure Loans are loans that are held with collateral. Collateral is something of value that guarantees a loan in case you don’t pay it backAn unsecure loan is simply a loan where no collateral is needed because of your good Credit History.
  5. 5. • Pawn Loans are the simplest of secure loans since what ever you pawn stands for the loan that you are given. This type of lending has been around for thousands of years and it is not going anywhere no matter what the politicians say.• It is a very real way for consumers to put extra cash in their pockets.
  6. 6. Payday loans are a type of unsecure loans and this means that they don’t need collateral. But you do have to have a steady job and income, be a citizen and be at least 18 years old. The interest rates are high and you have to pay it back in about 2 weeks or so, in that case use them wisely. They are not for long term problems.
  7. 7. Car Title loans are a type of secure loan where the value of your car or truck stands for the loan that you are given. If you don’t pay it back, then the lender can take your car and sell it to cover the loan that you did not pay back. It’s a raw deal if you are not careful. The interest rates can be 400% APR.
  8. 8. Peer to peer lending is a new one on the block so to speak. Yes people have been borrowing money from each other forever, but this type of lending is facilitated by a third party. These facilitators are typically online companies that unit borrowers with lenders and everybody wins in the situation, just as long as the borrower pays it back.
  9. 9. Individual lenders bid on interest rates for the different borrowers. Interest rates can be as low as 8 percent or as high as 30 percent depending on the credit worthiness of the borrower. This type of lending has opened a whole new world of fresh capital to small business owners.
  10. 10. • If you need a loan on a short term basis, you must consider your options and do your research. This type of borrowing should only be used for emergencies of minor financial significance.• For more information visit