What Are 100 Day Loans?

What are 100 day loans? There is a company that offers loans to people, regardless of their credit history. These are short-term unsecured loans.

These loans are just like payday loans except for one big difference. With payday loans, the money is due back within a few days. Usually payday loans are due back within a month. Sometimes, those loans are due back within 14 days, upon your next payday.  While the name implies that these loans are due to be repaid within 100 day loans, that’s not necessarily the case. Sometimes the lenders that offer “100 day loans” want them repaid sooner than that. However, typically the loans are due to be repaid in about 90 or so days.

100 day loans, like payday loans, have one sizable drawback. The biggest disadvantage of these types of loans is the fees that they charge. Repayment of these loans requires a sizable fee. The fee is typically several hundred percent (based upon an annualized percentage calculation.) It usually does not sound like a lot of money. The fee is usually something like  $25 for every $100 that you borrow. Well, since that money is due to be repaid in one to three months, that 25% (which is already considerable) gets increased considerably.

However, for those people who have no other choice, getting a 100 days loan can help to make ends meet. Short term loans with high interest rates are often frowned upon by the general public, but if you are in a situation where you need cash fast and have no other place to go, these lenders can help you to make ends meet.

If you have another option, you should absolutely consider that. But if you have exhausted all other options, 100 days loans, or any other short term unsecured payday-like loans can really help. You can find these types of loans from a variety of lenders. If you want such a loan, go to your search engine of choice and enter “100 day loans.”

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