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Five Reasons to Get a Short-Term Loan

Things have changed a lot over the past year, many of us have been affected in ways we could not have predicted. Even well managed businesses are struggling to stay afloat because of the lockdowns and the changes in people’s behaviour. There are many reasons people arrange to get a short-term loan. And this year there are more than ever.

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  1. Debt Consolidation: One of the very best reasons to get a short-term loan is debt consolidation. If you have several debts like your credit cards, car payment, or some purchases you bought on credit. It is a good idea to consolidate this debt into a single manageable payment. This is particularly useful if you are currently trying to get a bank loan, but they see that you have multiple outstanding debts. You might choose to get a short-term loan from Nimble.
  • Repairs: You never know when something is going to break, or when an accident is going to happen. Sometimes an important piece of equipment needs to be repaired, but it just isn’t in the budget. Not everything you have has insurance, and sometimes the deductible is higher than the amount of the repair. A short-term loan is a good solution to get you back in business.
  • Home Improvement: Home improvement is one of those things you can put on the back burner forever, just waiting for the extra money to show up. A home makeover is one of those things that you really want to do, but it never seems to become a priority. If you are not looking at a major renovation project, a short-term loan might be just the thing to make that slow burning dream a reality.
  • Unexpected Travel: Sometimes life comes at you fast, and you find yourself unable to respond because you are short of funds. One of these situations is unexpected travel. There are many reasons why someone might have to be somewhere else quickly, particularly when a loved one is in the hospital, or has died. Sometimes an unexpected opportunity turns up on the other side of the country, but you can’t afford the ticket. This is a perfect time to get a short-term loan, so you don’t miss out on an important moment of your life.
  • Christmas: Christmas can be expensive, and it comes whether you are ready for it or not. It is a difficult thing to be short of money on this most commercial occasion. Christmas loans are a real thing, and people often get short-term loans to take them through the Yuletide season. Christmas is a very important time for family. One of the best ways to show that you are still positive about the future, is to do Christmas just the way you would every year.

We can’t control all the situations in our life, sometimes we need to roll with the punches. A short-term cash injection is one way to insulate yourself from uncertainty. Life keeps moving forward, and opportunities can pass you by. Sometimes taking a loan can be the best business decision you can make.

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