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There are quite a few different types of short-term loan. It can be quite confusing because they can go by different names. It is good to have an understanding of the different types so that you can make a choice if you feel that you need one. There are some fundamental differences and so you need to know what these are so that you can make the right choice.

You might see short-term loans also referred to as cash loans, online loans, no credit check loans, bad credit loans and all sorts of names. However, there are really only three main types of short-term loan and these are payday loans, instalment loans and guarantor loans. They all have one main thing in common.