A Look At Short Term Loans
Short-term loans are used to pay for the same kind of operating costs as working capital line of credit. This kind of loan is different from line of credit as it is used generally for specific purchase. It has the following components: a borrowed fixed amount of money, a time duration, and interest paid in lump sum. The three types of short term loans are: a) Expense loans for applicants with financial aids who have expenses before the disbursement of their aids; b) Short-term loans for tuition of students without financial aid; c) Short-term loans for students who have emergency expenses.