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So what is a Short Term Loan?

People generally who work receive their salaries at the end or close to the end of every month and sometimes people need additional funds immediately for whatever reason that may be.

This is where a short term loan comes in, because by getting a short term loan you can borrow money now and then you have to repay it generally within 30 days, once you receive your salary, the following month. When you repay the loan, you generally have to repay it with interest and the longer the loan is required for, the more you would pay.

Short term loans have helped many people out of a desperate situation where they needed additional funds and for the best short serm loan, be sure to look at Wonga to assist you with a loan. They provide great service and you can determine when you will repay the loan before you apply online.

There are many payday loan companies out there, but be careful with who you sign up and rather go with a trusted and well known company, like Wonga. Before you apply for a payday loan, be certain that you will be able to repay the loan the following month, because failing to do so, could lead to you being in debt.

We have had quite a few enquiries related to what is the best short term loan company currently in South Africa, so we decided to write this article.

Currently the best loan company in our opinion is Wonga. They offer short term loans up to 31 days and you can sue their sliders to determine how much and for how long you want to borrow the money. Short term loans have become very popular, since people look the idea to get their hands on some funds and then repay it when they are able to.

One thing I must note is that no one should apply for a short term loan if they are not able to repay the loan within the given time period. Make sure that you budget for the expense and have the cash available to repay. The last thing you want is to get a short term loan and then just end up being in debt.