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A short term loan like what the name suggest is given for a short period of time say 1 month or maximum of 60 days. Being short term in nature, the rate of interest on the amount so borrowed is very high. On an average, one can avail at a maximum of $1500 dollars in short term loans and not more than that.
Share Share 0 Tweet 0 +1 0 Share 0. A short term loan is a form of financing that is attached with a quick repayment scheduleâshort-term loans may have a maturation period as short as 90 days.