Short-term loans are financial products designed to provide quick access to cash for a short period, usually ranging from a few days to a few months. These loans can help cover unexpected expenses, such as medical bills or car repairs, and are often easier to obtain than traditional loans. Borrowers typically repay the loan in full, along with any interest, by the due date. Many people turn to payday loans or personal loans when they need immediate funds. While short-term loans can be helpful, it's essential to understand the terms and interest rates, as they can be higher than other financing options.