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89 Cash / What Are Short-Term Loans?
Informational

What Are Short-Term Loans?

Learn what short-term loans are, how they work, common costs, repayment terms, and what borrowers should consider before borrowing.

Direct answer: Short-term loans are credit products designed to be repaid over a relatively short period. They can differ substantially in APR, fees, payment structure, and eligibility, so borrowers should review the full cost before accepting one.

Common Characteristics

  • Shorter repayment periods than many traditional loans.
  • Potentially higher costs depending on product and borrower.
  • Specific due dates and payment obligations.
  • Terms that vary by lender and state.

Questions to Ask

What is the APR? What is the total repayment? When is payment due? What happens if a payment is late? Are there cheaper alternatives?

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Transparency note: Loan availability, rates, APR, fees, repayment schedules and eligibility vary by lender and state. Information on this page is educational and does not replace the participating lender's agreement or disclosures.