Sooner or later, most people find themselves short of cash and in need.

The baby gets sick right before payday. Your car dies and you need to buy a reliable used car.

It’s stressful when these things happen and it’s not always clear where to get the money. You can always try selling things you don’t use. Unless you offer something a lot of people want, though, it’s anyone’s guess when it’ll sell.

That isn’t your only option. You can get short-term loans from several places. Let’s jump in and see where.

Hit Up Family for Short-Term Loans

Unless your family members are very mercenary, they often prove the best place to borrow money for a couple months.

Family members worry less about how fast you plan to pay them back than with what you need. If you need the money for a necessity or to help finance a good opportunity, they’re usually game.

Family will even invest sometimes if you’re trying to get a small business off the ground.

Family members also don’t charge you interest on the loan, as a general rule. That helps to keep the overall cost of the loan down.

Just bear in mind that family will sometimes lend more than they can actually afford. Take care not to overextend their finances.

Installment Loans

Another option for short-term loans is installment loans.

Lenders offer installment loans for small amounts, usually in the $300-$2000 range. Although some lenders will lend more. You pay the loan back over a fixed number of months and generally with fixed payment amounts.

You can get small installment loans online, often with nothing more than a signature.

So, let’s say that you need a decent suit for job interviews. You apply for a $500 loan through Wire Lend. One of their partners gives you the loan at 9% interest and six months to pay it back.

You get the suit, score a job, and make your six payments.

Payday Loans

A third option for very short-term loans is payday loans. Most payday loans are for a few hundred, so they aren’t good for financing major projects. Their main purpose is to help cover an unexpected bill.

Here’s how they generally work.

You visit a payday loan business and ask to borrow a given amount. If they approve you, you write them a check for the borrowed amount and a fee. After two weeks, the business cashes the check.

For the most part, payday lenders will approve anyone with a job. That makes them a very reliable source for a short-term lending.

It’s important to know that payday loans come with very high interest rates. You want to limit your use of them to times when other options aren’t available.

Parting Thoughts

Coming up short financially is stressful and even frightening. It’s not insurmountable.

You have options for getting short-term loans.

Family members will often lend money for necessities. You can apply for installment loans online. You can even get a payday loan if the other options aren’t available.

If you’re interested in raising money instead of borrowing it, check out our post on selling through classified ads.