Thanks for the information! Well, occasionally, people seen advertisement for a short term loan, and wonder what that is. A short term loan is pretty much what it sounds like - a loan that you pay back quickly. Usually it's the kind of funding option that someone would look into for emergency expenses. People with bad credit can apply, and are still qualified applicants, as lenders require applicants to have a checking account and a job as the requirements. A short term loan could also be called payday loans, and as a financial tool it is something to be used only when absolutely needed.