Short term loans
A short term loan is one repaid over months rather than years. The term is the single thing that most changes how a loan feels to repay, and it cuts both ways.
What a short term does for you
You are out of debt sooner, and you pay for the money for less time. A debt that is finished in a few months does not sit across the rest of your year, and it cannot quietly become a fixture of your budget the way a multi-year commitment can.
What a short term does to you
The same amount over fewer repayments means each repayment is larger. That is the trade, and it is the one that catches people out: a loan can be affordable in total and still be unaffordable this fortnight. This is exactly what our assessment is checking when we look at your bank statements, and it is why an application for an amount that would be comfortable over a longer term can still be declined.
Which of ours is which
Both of our contracts are short term in the ordinary sense. The small amount contract is the shorter of the two and is built for a gap you expect to clear quickly; the medium amount contract runs longer, which spreads a larger amount across more pay cycles. The published terms for each are on the loan types page.
The contract behind this name
Small amount loan
A fee-based loan with no interest, for a shortfall you will clear within three months.
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