A loan that is taken for a short period of time is known as a short-term loan. Taking a short-term loan helps to repay the unpaid or uncertain expenditure. Hence, here is an infographic diagram that can help you know it in detail. Pros of taking a Short-Term Loan • Faster than Banks Banks ask for proof and documentations when applying a loan. But, you can take a short-term loan without any documentation. Hence, it is faster than banks. • Maturity Period Short-term loan is taken for a short period of time. Say, for example - < 1 year. • Credit Score Enhancement Pay your short-term loan amount quicker and improve your credit score. • Quick Cash Access The process of taking a short-term loan is hassle and stress-free. Hence, quick cash access is possible. Where to take a Short-Term Loan? • Venture Capitalist They are a group of investors who helps in offering capital. But you need to provide them a security in return. • Pawn Shop A great solution for getting quick cash is taking loan from pawn shop. A pawn shop helps to fulfil your financial crises instantly. • Banks They are the most common lenders but you might need to give certain documents that are mandatory.