If you cannot solve a financial problem and you need cash quickly, a short term loan is the ideal solution for you. It allows you to borrow enough money to fix things. At the same time, it has a short term so it should not particularly expensive. You will be able to repay it quickly and get rid of debt completely. These financial products are widely used by South Africans in case of unforeseen expenses, inability to repay existing debt and general financial hardship.
In the past, the consumers in South Africa could take out only personal loans with a term as short as 2 to 5 years. They had to use the services of companies which had very high and very strict requirements. They had to stand in a queue for a long time and make an application personally. Then they had to wait for the lender's reply to come in the form of a letter via the mail.
This situation is completely different now. There have been some dramatic and important changes that favour the South African consumers.
Today, you can select from numerous different lenders online. You can make an online loan application and get approved in minutes. You can have the money in your bank account in a few hours.
There are many short term loan companies popping up every day. On one side, this means more competition and lower interest rates. On the other, this requires more vigilance from consumers. You should research the lender carefully to confirm that they are legitimate and reputable and that they offer competitive interest and fees.