Generally speaking, I get short term loans of 3-12 months through a saving and credit cooperatives. Well, interest rates are usually higher than the banks but loan is processed in one day and you do not have to do a lot of paper works
Where do you get short term loans?
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I never obtain loans from financial organizations. They charge interest and I really hate it. Interest money damages economy in the long run. This is why I obtain short-term loans from my family members.
I do agree that they need to impose interest with the borrowed money. I need to do it because one of my salary payments were delayed.
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We don't have any e-wallets that offer lending facilities, however, one of the local e-wallets is trying to get approval from central bank for lending facilities.
Oh, I see. I also have not tried the local banks if they have this kind of offer online. Although I am grateful that I was able to do it.
What if they don't want you borrow money or you don't return it back on time? What would happend and would it affect on your relationship with them?
I get my short term loans from three places. One of them is the bank I use for receiving my monthly salary. The second one is my mobile money account and the third a government credits plan that gives people short term loans. All three are so reliable for me, the money arrives in minutes and the interest rates are manageable.
I borrowed a short-term loan from my younger sister during college to help pay for my thesis. I repaid her after graduating.
