 TITLE: What Is a Short-Term Personal Loan? CONTENT: How a Short-Term Personal Loan Works\n------------------------------------\nUnlike a traditional personal loan, which you generally pay back over several years, a short-term personal loan is designed to be repaid within a year, or even just a couple weeks depending on the loan. Although the type of short-term personal loan you get will depend on your creditworthiness and the lender you choose, most of them work like this:\n*   You apply for a loan with an online or storefront lender.\n*   The lender performs a credit check or looks at your paystubs or other documents to evaluate your financial history.\n*   If the lender approves your loan request, you'll get a loan offer, including an interest rate and term. You should receive your answer quickly—in fact, many short-term loan providers will get back to you within an hour.\n*   You agree to the loan offer and receive the money. The lender likely will transfer the money to your bank account within 24 hours of approving your loan request. END