Short-term loans are financial products designed to provide quick access to cash for a short period, typically ranging from a few weeks to a year. These loans are often used to cover unexpected expenses, such as medical bills or car repairs, and can be obtained from various sources, including banks, credit unions, and online lenders. Borrowers usually repay short-term loans in a lump sum or through installments, often with higher interest rates compared to long-term loans. It's essential to understand the terms and conditions, as well as any fees associated with the loan, to avoid potential financial difficulties.