Short term loans

Short Term Payday Loans for Bad Credit



A bad credit score used to be one of the most limiting factors for getting a loan. People with poor credit ratings were often denied the opportunity to apply for funding because lenders had no good backing that they’d be able to pay back on their loan offer when due. Unfortunately, this challenge led to increased illegal money lending, forcing many people to deal with unauthorized lenders.

Short term payday loans for bad credit were introduced to curb all these whereby anyone, irrespective of their current financial condition, can have instant access to funding, any day and at any time.

Thus, with this new reform in the lending industry, short term payday loan direct lenders are now far more interested in ensuring that you’re able to deal with that pending emergency rather than limiting you to funds based on your current predicament.

That being said, InstantPaydayOH is one of the best short term loans for bad credit lending platforms that offer 24 hours guaranteed funding to anyone that really needs it. This is because we believe that no one should be held back for years because of a mistake made in the past.

What is a Short-Term Payday Loan?

A short-term loan is a form of payday loan that is taken for a short period, specifically to cater for a pending expense, as well as a temporary personal or business capital need.

A short-term payday loan offers you immediate cash whenever your cash flow is lacking.

Its loan terms have shorter repayment periods than regular traditional loans. Short term payday loans are one of the most desirable options for small businesses and regular individuals that don’t qualify to apply for a line of credit or loan from a bank or other lending organization.

Short-term loans are named as such because they demand quick repayment. The way short term loans for poor credit are repaid is so different from typical loans.

One of the most crucial things to consider before applying for a short-term loan is the Annual Percentage Rate (APR) which directly impacts how much you will payback for the loan offer. This is because short-term loan rates vary, and it is improbable that you would get a prime rate every time with a short-term loan. Other factors to be carefully weighed include the origination fees and other applicable charges, late payment penalties, and refinancing options. Though the lending requirements are usually more softened, making it easier to get approved, the loan amounts for short-term loans are pretty limited to a few basic requirements.

How Does a Short Term Payday Loan Work?



Unlike regular traditional loans, where you generally get to pay back your loan offer over several years, short-term loans for bad credit are designed to be repaid within a set of agreed days or weeks, depending on the loan offer’s terms.

Although the type of short-term loan you get significantly depends on your creditworthiness and the lender you’d be matched with, your current credit rating has no part in getting your loan offer approved whatsoever. Most short loans for bad credit application processes start by you first applying online for your desired loan amount, after which you’ll be matched with a short term payday loan direct lender that best suits your lending purpose.

Based on the few required details you submitted on applying, your matched lender checks to see if you qualify for the loan amount you’re applying for, and if you do, your loan offer would be approved, and your funds would be disbursed soon as the same day.

The entire application process for a short term payday loan takes no more than five (5) minutes to complete; this is because we want to make the entire process very easy for everyone.

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Can I Get a Short-Term Loan with No Credit Checks?



Sometimes, getting funding with a really poor credit score can prove challenging. There is no guarantee that you’d get your loan offer approved, and if you eventually do, such loan offers usually come with higher interest rates.

Thus, those who lack good credit history often need a guaranteed loan that offers to fund them, irrespective of their current financial condition; this is where short term loans for bad credit really come in handy.

With a payday short term loan, you can get all the funds you need for dealing with that emergency, irrespective of your current credit rating. Rather than performing a hard credit check on you, a short term payday loan direct lender uses alternative ways to check on your creditworthiness. As a result, the entire loan application process is made faster.

Can I Get Short Term Loans for Bad Credit on the Same Day?



As discussed earlier, the entire application process for short term loans for bad credit takes no more than five (5) minutes to complete, after which all your desired funds are forwarded to you as soon as the same day.

Most applicants for short-term loans get their cash in hand within 15 minutes of applying. Nevertheless, the time taken to approve a payday short-term loan offer depends on various factors, some of which include the amount you wish to borrow and the length of your loan repayment period.

Smaller loans to be paid back over a shorter period usually get approved instantaneously, based on the loan offer’s terms. Thus, if you are looking to deal with a really troubling event quickly, then a short term payday loan is the best solution for you.

What are Short-Term Payday Loan Interest Rates?



Short term payday loan interest rates usually fall between 15% and 20%, depending on the terms of your loan offer, your financial history, and the short term payday loan direct lender with which you’d be working with. Also, while rates may differ widely, payday loans may charge up to 400% APR.

Rather than just accepting the first loan offer you get, it’s always best that you do a quick background check and compare different short term loans for bad credit same day offers to find the best interest rate that you know that you can comfortably pay back.

Meanwhile, the Annual Percentage Interest Rate (APR) on a short-term payday loan offer is calculated by dividing the total interest incurred on the offer by the initial loan amount and multiplying the result by 365 (days). This result is then divided by the total length of days agreed for repayment of the loan offer. The final result of this is multiplied by 100.

Mathematically, the APR calculations on a $500 loan that’s designated to be paid back within a 30 days interval will look something like: Amount of interest on loan = 15% x 500 = $75 Thus, amount of interest = $75; Amount of interest/loan amount = 75 ÷ 500 = 0.15; (Amount of interest/loan amount) x 365 = 54.75; ((Amount of interest/loan amount) x 365) ÷repayment date = 54.75 ÷ 30 = 1.825 (((Amount of interest/loan amount) x 365) ÷repayment date) x 100 =182.5%

Where Can I Get the Best Short Terms Loans Online for Bad Credit?



Short-term loans in Ohio don’t have to be funded by a bank. These are loans that can be gotten from the comfort of your place, online, and within minutes.

Thus, most residents in the state of Ohio turn to InstantPaydayOH for the best short term loans for bad credit offers. This is because our lenders specialize in bad credit financing.

At InstantPaydayOH, we make it easy for you to get all the funds you need, and whenever you need it!

On inquiring for a short term loan offer with us, our system instantly matches you with the best lender that best suits your funding purpose. We save you the stress of not having to go on a constant search of different platforms and providers for funding.

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Does InstantPaydayOH Offer Short Term Loans for Poor Credit?



If you have a poor credit score, you can still get short term loans in Ohio with InstantPaydayOH.

We are the final solution for anyone tired of getting turned down for funding because of their poor credit score. Also, an instant payday loan from InstantPaydayOH can be an excellent opportunity for those looking to improve their credit rating.

Yea, your borrowing history from a short term payday loan doesn’t usually reflect in your credit score. Still, with InstantPaydayOH, we tend to report any positive changes to your borrowing habit to top lending organizations, which in turn help to improve your credit rating.

Today, there are lots and lots of payday loan organizations in Ohio which you can use to quickly solve most of your financial problems, but with InstantPaydayOH, we currently offer the best short term loans for bad credit for anyone to leverage.

Thus, you can get a loan 24/7 anywhere in Ohio, even with a poor credit score.

What are the Criteria for Getting a Short-Term Loan?



Though loan requirements vary with short term payday loan direct lenders, there are still a few basic requirements to consider when filing for payday short term loan offer. Some of these include:

  • Applicant must be 18 years and above to qualify.
  • Applicant must either be a citizen of the United States or currently residing in the state of Ohio as a permanent resident.
  • Applicant must have a verifiable source of income or proof of steady employment. Lenders always want to see that you can afford a new loan in addition to any other debt you might have on your hands.
  • Applicant must provide a bank checking account in their name where the approved loan amount would be deposited.


You can consider opting for automatic payments when it comes to repaying back your borrowed funds. Automated payments go a long way in reducing the likelihood of negative factors on your credit score. If you can’t find a way to make a specific payment through the our website automatically, you can add us as a regular payee through your bank’s system.

What Information Do I Need to Apply for a Short-Term Loan?



During the initial application and verification process, you’d be required to provide your short term payday loan direct lender with a few basic documents. Most of these documents are to be submitted electronically.

Lenders have their application to initiate the loan process, which can look different from lender to lender. If borrowing from an online lender, the application process is done entirely online, likewise a traditional lender where the application process is completed either in person or at a store front.

The initial application process is usually basic; you will be asked for your personal information, such as your name, address, date of birth, phone number, and even your Social Security Number. You might also be required to fill in your desired loan amount and loan purpose. Be sure to fill out each question accurately.

Lenders would also want to verify your identity to determine if you are a resident in the state of Ohio, or a citizen of the United States. They’d also want to confirm that you have a valid and active bank checking account.

You will need to present forms of identification such as driver’s license, passport, certificate of citizenship, state-issued ID, birth certificate, military ID, and Social Security card.

Unsecured payday loans are different from many other loans because there is no collateral that backs up the loan offer. For this reason, lenders will often want to verify that you have a steady source of income to repay the loan offer.

You can verify your income with documents such as banks statements, employer’s contact information, pay stubs, income tax returns.

The truth is that you hold a lot of power when it comes to getting a short-term payday loan offer. Though lenders tend to make the final decision, but if you provide all the necessary documents required for getting your desired payday loan short term offer, you have nothing to worry about.

That being said, ensure to do your due diligence prior to your application, and submit all the requested documents.