You need money for a short period of time, but your overdraft facility is already exhausted or not available at all? Then a short-term loan for one month is the ideal solution for you. As soon as you have applied for the loan, you can repay it within 30 days.
The advantage of this short term is that you can quickly compensate for an urgent capital requirement. This can be the case, for example, if you urgently need to pay an invoice, but it is still a while before the next payment is received. But you have to be sure that you can actually repay this short loan within a month.
The main features of a 30 day loan are:
- Loan amounts from 50 USD to 500 USD are available
- Short term that the repayment must be made within 30 days
- Interest independent of creditworthiness
- Small loans can also be granted for a Credit Bureau entry.
With a small loan you do not need to access the overdraft facility
You are probably wondering why you should apply for a short-term loan in the first place if you have an overdraft facility available. Everyone comes into a situation where money is urgently needed. This can be because of an unexpected repair on the car or on the washing machine. Payment cannot be postponed. If you no longer have enough money in your checking account, the short-term loan is the ideal option.
This saves you cash, because using the overdraft facility in the checking account is very expensive. A short-term loan over a month can therefore prove to be worthwhile for you.
What needs to be considered when taking out a loan?
Many providers charge additional fees if the loan term is to be longer than 30 days. Therefore, you should think very carefully in advance whether you really need a longer runtime, because it can be really expensive. Sometimes that’s not necessary.
What loan amounts are possible with a 30 day loan?
Since the loan term is very short, only small loan amounts are possible with a 30 day loan. You can borrow up to 500 USD immediately if you are a new customer at one of the providers. If you are already a regular customer at a provider like Lite Lender Company, you can borrow up to 3,000 USD.
How quickly can the 30 day loan be paid out?
Mini loans are processed completely digitally. This enables a very quick payout. The standard payment duration is approx. 3 – 14 days and varies depending on the provider. All providers offer you an instant disbursement option, which makes it possible to get a small loan into your account immediately.
This express option has additional costs. If you want an overview of the payout duration of the individual providers, we recommend you take a look at the payout duration table. There you will find the appropriate information for each provider.