FAQ
Frequently Asked Questions
Our Frequently Asked Questions (FAQs) section addresses common queries about Short Term Finance and our lending solutions. We cover topics such as loan types, eligibility criteria, the application process, and repayment options. Clients often ask about the approval time, loan amounts, and how we tailor our finance options, including personal loans, business loans, and debtor finance. We also address specific concerns, such as interest rates, fees, and how to apply for short-term finance with bad credit. Our FAQs are designed to provide clarity and guidance, helping you make informed decisions about your financial needs with confidence and ease.
What is short term finance?
Short term finance refers to loans that are typically repaid within 3 to 12 months, designed to meet immediate financial needs quickly.
What can short term finance be used for?
Short term finance can be used for a variety of purposes, including managing cash flow, covering unexpected expenses, funding business projects, or consolidating debt.
How quickly can I access funds?
At Short Term Finance, we aim to process applications quickly, often providing access to funds within 24 to 48 hours after approval.
What is the maximum loan amount I can borrow?
The loan amount depends on your financial situation and the type of loan, but we offer flexible options based on your requirements.
What are the eligibility criteria for a loan?
Eligibility typically requires proof of income, a good repayment history, and, for business loans, stable cash flow. However, we assess each case individually.
Can I apply for a loan with bad credit?
Yes, we consider applications from individuals with bad credit. We evaluate your overall financial situation to find the best solution for you.
What is a secured loan?
A secured loan is backed by collateral, such as property or assets, which reduces the lender’s risk and can result in better interest rates for the borrower.
What is a second mortgage?
A second mortgage allows you to borrow against the equity in your property while your first mortgage remains in place, giving you access to additional funds.
How do repayments work?
Repayments are structured according to the loan type and term, typically on a weekly or monthly basis. We offer flexible repayment plans to suit your financial situation.
Are there any upfront fees?
Our fees depend on the loan product and amount. We provide transparent information on any fees during the application process, so there are no surprises.
What interest rates do you offer?
Interest rates vary based on the loan type, term, and the borrower’s financial profile. We aim to offer competitive rates tailored to each client’s situation.
Can I repay my loan early?
Yes, early repayments are allowed. Depending on the loan agreement, you may save on interest by repaying early, and we are happy to discuss flexible options.
What happens if I miss a repayment?
If you miss a repayment, it’s important to contact us as soon as possible. We will work with you to find a solution, which may include adjusting your repayment plan.
What is debtor finance?
Debtor finance, or invoice financing, allows businesses to access cash by selling their unpaid invoices, improving cash flow without waiting for clients to pay.
How do I apply for short term finance?
Applying is simple! You can fill out an online application or contact our team directly. We will guide you through the process and help you find the best solution for your needs. CLICK HERE to apply online now.
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