Short Term Loans Review

Short Term Loans ReviewShort Term Loans says they’ll lend you up to $1000 until your next payday, so the real question is whether you should choose them as your lender over the thousands of other choices you have.

That’s where we come in. We’ve analyzed and evaluated hundreds of payday lenders, and we have a system that we run on each potential lender to size up whether consumers should go with them or not. We have a very high accuracy rating and can accurately predict whether you’re going to enjoy your experience with a lender, or whether it’s going to be an additional thorn in your side.

That being said, let’s get on with our Short Term Loans review and see how they measure up. The first thing that we like to check into for an online lender is if they’re providing a secure application for potential customers. In this case we see that they do in fact have this covered. Our data shows that roughly half of all online lenders and matching services that provide an application don’t have it hosted on a secure page. But this is not the case with STL, so they get points for that.

Short Term Loans Review – The Basics

Basically, you would never want to transmit your personal data on an unencrypted page. In the case of applying for a payday loan you definitely don’t want to give your banking details including your account number over an insecure page. That’s why Short Term Loans has taken the time and expense to set it up securely so you can have peace of mind knowing that your data is not susceptible to identity thefts or other nefarious schemers out there.

Fees and Costs
Their rates are only a little higher than the national average, so you might be able to save a bit of money by going to a local lender, but it might not be much of a savings when you factor in the time it takes to drive to the lender and wait in line while they serve others. If you factor that in, these fees might even be a better way to go. Also consider what a rotten frame of mind it puts you in to have to drive back to the lender on your payday with all of that cash and visually watch them take your money, and then have to reloan the same amount of money from them again. If you can avoid that and take away those visuals and negative feelings it might be well worth it to pay a bit more for the same money.

Requirements
They have the same or similar requirements as other lenders all over the country, you have to be a legal adult, you have to have employment or a regular source of income so they know when they can collect, and they are even good about satisfying the state specific requirements, so for example if you live in Illinois you’ll have to fax in your documents as that is the law for that state.

Real Locations
Another huge plus is that they operate physical locations in the Chicago area. Why is that so important? It adds a large amount of credibility to their online operations, and shows that they know how to operate a real business, which takes some additional skill and the ability to pay attention to detail that other online lenders might not have. They also have a toll free customer service line that you can call during normal business hours and talk to a real person. That’s another huge plus for them, and another reason to put them on your short list of possibilities.

Our Recommendation
We couldn’t find any pressing reason not to go with Short Term Loans as your payday loan provider. They have all of their ducks in a row and appear to be trying to provide you with the same caliber service you’d get if you went to a real location, they’re just doing it online instead. Of course you should check out a few competing sites to see which have the best rates and the best terms as far as when the money is due back.

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