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North San Antonio
210-736-5626
South San Antonio
210-532-5626
Harlingen
956-412-0114
Del Rio
830-775-1521
Lubbock
806-749-2274
Abilene
325-676-7775
Serving the San Antonio, Del Rio, Lubbock, Abilene and Harlingen Areas
210-736-5626
210-736-5626

What is a Short-Term Loan?

If you are in a pinch and need money promptly, consider obtaining a short-term loan. These loans are for relatively small amounts are paid back quickly. Sometimes, small business owners use these to grow their business. Before looking for a short-term loan, make sure you understand it.

Amount

For the most part, short-term loans are for small amounts of money. Typically, a short-term loan will not exceed $25,000. A payday or title loan might give up to $2,000. These loans are not for large sums because the lender is not protected from loss.

Time to Pay Back

Because there is not as much money leant, the borrower should not need as much time to pay back the debt. Usually, a short-term loan will last up to three years, but some are much shorter. Payday loans, for example, are usually collected on the next payday or several pay days of the borrower.

Uses

Short-term loans are best used when you need money fast. This could be to pay medical bills or to resolve cash-flow shortages for your business. Short-term loans help people of all walks of life secure needed income quickly.
If you need money in a hurry, come talk with the financing specialists at Central Finance. We have offices in San Antonio, Harlingen, Del Rio, Lubbock and Abilene, Texas. Keep on top of your expenses with a short-term loan from Central Finance. Call us to apply!