Types of Short-Term Loans in Mississippi

Helping a Young Couple With Short-Term Loans in Mississippi

When it comes to short-term loans in Mississippi, companies like Speedee Cash can help you get the money you need for that quick payment you need to make. There are many things you should take into account if you are considering taking out a loan, and the first step is getting educated on the different types of loans available.

While it is easy to qualify for a short-term loan, they can have unfavorable rates and terms if you have a low credit score or limited income. The high fees and interest rates will build up expensive debt, and the short repayment terms can leave you worse off financially. However, there are better, more affordable options, such as:

  1. Pay Day Loans: You receive the loan amount (which state laws may limit to $500 or less) minus fees. In exchange, you give the lender a post-dated check for the total amount or give them permission to take a direct debit from your bank account on a predetermined date.
  2. Auto Title Loans: Auto title or car title loans might be another option for a short-term loan if you have bad credit. You can get up to half the value of your vehicle as a loan while the car acts as collateral.
  3. Short-Term Personal Loans: Rather than requiring a single payment, like a payday or auto, you will make weekly, biweekly, or monthly payments on a predetermined schedule

Reach out to them today to learn more about Speedee Cash’s services and short-term loans.