What is a Short-Term Loan?

A Short-Term Loan is small dollar loan (sometimes called a payday or deferred deposit loan) usually between $100-$1000 (depending on income and state laws) that is designed to help you pay for immediate or emergency expenses. The loan balance is usually repaid on your next payday. Please note, these types of loans should only be used for short-term financial needs, not as a long-term solution to financial problems.