Exploring the Benefits of Short-Term Loans for Financial Flexibility

As a young professional, work-from-home mom, or owner of a small enterprise, you do not have to be cash-strapped to need access to short term loans. To the contrary, you might need a new suit for an important sales pitch, need office stationery to print out a large typing assignment, or need instant cash for a large order.
It is commonly known that the formal banking sector is not always willing to loan cash for short periods, even if you have been affiliated with the institution for years. If they do approve your application, it might take days and your deadlines for your urgent financial needs and objectives might come and go with disappointing outcomes. So, when quick cash is needed urgently, consider applying for short term loans.

Explore 5 Benefits of Short Term Loans

As much as the corporate financing sector avoids these advances, the informal banking sector welcomes them. For the borrower, it provides access to cash over a short period and for the lender, they make a small profit for providing the service. Short term loans are an excellent way to solve financial obstacles. Let's explore a few more benefits:

Applying for quick cash is usually a fast, efficient process. Many lending facilities have an application form that takes a very short while to complete, asking only for critical information.
The application process is much faster than conventional banks. From submitting your basic paperwork to having cash in your bank may be as quick as 20 minutes.
Short term loans can potentially be more cost-effective than amounts over longer periods. Settling interest when paying back the advance may be cheaper than paying bank charges for months.
Most individuals or SMMEs have cash-flow challenges at times, and it is always a comforting thought to have access to small, recurring cash injections when you need them most. This ensures that you can pay staff wages or entertain your parents when they are in town.
Having a trustworthy payment history with a reputable, registered financial services provider might be what you need in the event of a financial emergency. Auto repairs, emergency visits to the doctor or dentist, and other unexpected expenses can be settled quickly without incurring additional costs.

Although most registered credit providers in South Africa offer great short term loans, competitive interest rates, and convenient payment terms, always investigate those that have gone the extra mile to assist their members.

Where to Turn for Quick Cash?

At Boodle, we have streamlined our offerings, making the process quick and easy. The entire process is completed online. From completing the application form to receiving boodle in your bank takes as little as 20 minutes. It is a loan and we know you have to pay it back, so we do not want to financially burden you.
Once you have settled your first transaction in full and on time, we award you with a SmileRank. The more you build up your ranking, the more you can borrow over longer periods. Join the happy community of Boodle members by applying today. Navigate to our SmileDial on the homepage and apply right now.