[header] How to get short term loans [title] Understand the advantages and disadvantages. [step] Personal loans can be a great option for people who don't qualify for a regular bank loan. They offer flexible repayment structures and lower interest rates for the borrower. 
However, things can get messy if the loan is not organized through a loan agreement and repaid on time. Another concern is the fact that your personal relationship with the person may be at risk if you default on the loan.