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Short term loans trend amidst fiscal cliff

Jan 05, 2013 Quinn Thomas

The government needs to tighten its belt. Although the Obama Administration vowed to help small business owners in America, a quarreling Congress and the impending cliff make this a hard promise to follow through on.

However, many small businesses and consumers are trying to swim above water by applying for short term personal loans, financial assistance up to $7,500 that can be acquired from numerous lending institutions with ease.

These online lenders are attractive to individuals because they are quick, easy and do not demand good credit. Some businesses even have bad credit lending programs. Small business owners benefit from these set-ups, especially those who have exhausted local bank and government loan resources. The Lending Circle, a division of Sunovis Financial, is just one program that offers short term micro loans for business. An application is approved within days and financial assistance delivered in just weeks. This money is often used to expand businesses, buy equipment and inventory or kick off marketing campaigns.

A healthy short term lending industry within a community can often help boost local business and meet the needs of citizens struggling for governmental support.