FAQ

What is a Short Term Loan?

A short term loan is a way for an individual to get money quickly in a time of financial need without having to deal with the same issues traditionally associated with acquiring credit. The process is faster and less frustrating overall than using credit cards or dealing with traditional banks. You can gain a short term loan even if you would be denied a similar line of credit due to poor credit history or no credit history. Through this method, you can get approved quickly for the 100 day loan of up to $1,000.

What Are the Qualifications for a Short Term Loan?

The main criteria in order to be eligible for a short term loan is that you need to be at least 18 years of age. You also need to be a legal resident of the United States, currently employed in the country for a period of at least 90 days, and have a bank account that is not currently overdrawn. Finally, you will need a working telephone number and an email address. Some lenders are willing to offer you funds if you are unemployed, but you need to be able to show that you have unemployment or SSI funds to repay your loan. Be sure to check each lender’s full terms, as 100DayLoansToday.com does not guarantee any terms of the short term loan offers you will receive.

When Should I Consider a Short Term Loan?

Short term loans are intended to be used during financial crises and are a short term solution to help you get back on your feet. You should apply all the common sense with a short term loan that you would with dealing with any type of line of credit. Never request a loan for frivolous reasons. If you have major long term financial issues, you should consult a professional credit counselor.

What if I Am Self-Employed or Have Multiple Jobs?

As long as you can verify a minimum amount of salary outlined by your lender (typically $750 per month), you can still get the 100 day loan if you are self-employed or have multiple jobs. In the case of multiple jobs, you should list only your primary job on your application form along with your total salary from all sources of income. When your lender contacts you, be sure to mention that the total income is from combined sources. Your lender will likely ask you to provide verification for both employers. If you need to provide any documentation such as a paycheck stub, you should provide the information for both employers.

Are These Loans Expensive?

Many people believe that short term loans are very expensive, but they are actually not more expensive in the long run than getting a credit card loan or having to deal with an overdrawn checking account. The interest rates for short term loans are higher, but the loans are also paid off much quicker than most other forms of credit. As long as you follow the terms of the agreement and pay off your loan within the time frame set out between you and your lender, these loans can be a very good option.

What are The Costs?

The final cost of a short term loan is determined by several different factors. These costs are not determined by 100DayLoansToday.com but will be made available to you by your lender before you accept the loan. Some of the costs to consider include APR, finance charges, whether the loan is paid on time, rollover requests, local laws, and more. You should review all information carefully before finally accepting a short term loan.

Will I Need to Fax Any Documents?

Our lenders strive to provide you with your money as quickly as possible, but there are times that they might need more documentation to protect themselves from risk. Some documentation that might need to be provided could include proof of employment, your identity, and your bank account information. If you do not have access to a fax machine, you can use your local public library, UPS store, or any United States post office. These locations may have a small fee associated with using their fax machine.

What Do I Do if I Have Questions About the Lending Terms?

Prior to accepting any loan agreement, you will have access to all the terms and conditions for your loan. If you do not agree with any part of these terms or if you are not sure about something in the agreement, you should not accept the loan until you have received clarification from your lender. 100DayLoansToday.com is not a lender thus we cannot offer you this clarification. When you have received an answer, you can use this information to make a final decision about the loan. Remember that once you provide your electronic signature, you have entered into a legally binding agreement and must follow all terms of the loan.

How Do I Apply?

All you need to do to apply for a loan at 100DayLoansToday.com is fill out our quick application. We will only request the information that your potential lenders need in order to make a loan decision. Once you have completed your application, your information will be forwarded to our network of over 300 lenders. These lenders will review your application and then send you an offer if they feel that you are a good fit for them. You should receive offers very quickly, and you will have a chance to choose the one that fits your needs the best. Once you have provided your electronic signature, your money will then be deposited into your bank account very quickly.

How is the Loan Repaid?

The specific terms of repayment for your short term loan will be outlined by your chosen lender. This will typically involve the lender withdrawing a specified amount from your bank account on a specified date for payment. All you need to do is make sure that the funds for payment are available in your bank account by the specified date. If this is not possible, you should contact your lender as soon as possible in order to explore the possibility of rollovers or other late payment options. This may help you avoid additional fees for insufficient funds.

What if I Have Questions Relating to My Loan?

Any questions pertaining to your loan should be directed to your chosen lender. 100DayLoansToday.com is not a lender and we thus have no access to your information or other loan-related details. You should receive information from your lender that will include a contact number and website. If you are not satisfied with your lender’s level of communication or feel that you are not being treated fairly, you can access various government agencies through links provided on 100DayLoansToday.com. You should contact these agencies to receive a resolution to the situation.

How Many Loans Can I Have Outstanding at One Time?

100DayLoansToday.com advises that you only have one outstanding short term loan at a time, but some states do allow for two to three loans at one time. If you already have an outstanding loan and are applying for a new short term loan, you will need to inform your new lenders of this situation. Even in states that allow multiple loans, there are limits in place on how much money you can have lent to you at any given time. Many lenders avoid providing multiple loans to one customer at a time, and they have the right to deny a consumer a loan if they see fit.

What if I Can’t Pay My Loan on Time?

If you aren’t sure whether you can afford a short term loan, 100DayLoansToday.com recommends that you do not take a loan out. Our lenders cannot press criminal charges against you for nonpayment, but you will still be targeted for collection efforts that might include limited action. You will receive collection calls, but all lenders must abide by the Fair Debt Collection guidelines. Be sure to remember that your outstanding debt will continue to accrue interest. You should never borrow more money that you can afford to pay back and always make sure that you have payment funds in your bank account by the required date.

Why Was My Application Denied?

100DayLoansToday.com has a high success rate in terms of matching customers with lenders, but there are some times that a consumer will be denied. If you are currently in bankruptcy or do not meet criteria set forth by our lenders, our network cannot provide you with any funds. If you already have an outstanding short term loan, our lenders may choose not to extend you additional credit. If you feel that you have been denied for a reason that is not financial, you should access the proper channels in reporting a complaint.

Can I Apply To the Same Lender Later?

If you have a specific lender you contacted through 100DayLoansToday.com that you would like to use again, you can visit that lender’s website in order to use their services again. This is a good way to build a relationship with your lender that can provide you with larger loan amounts and better interest rates down the road. 100DayLoansToday.com does not store information about lenders you have previously used, so it is up to you to keep communications from your lender if you wish to use them again. You can also re-apply for a short term loan at any time, although we do request that you wait 72 hours between applications.