While some of the most well-known loan types are for large amounts of money and are repaid over several years (such as mortgages and automotive financing loans), there are a variety of loans that are designed for smaller amounts and for shorter periods of time. Some of these loans come from banks or other common lenders, whereas others come from specialty lenders that deal specifically with these types of short-term loans.
If you’re in the market for one of these shorter-term loans, or if you’re just wanting to see exactly what options are available, then the information presented in this article is for you.
Below you’ll find information on the short-term loans that are commonly offered by traditional lenders such as banks, as well as other common types of lenders and a few specialty lenders that aren’t as common but that deal almost exclusively in short-term loans.
How Wire Transfers Work
If you’re a fan of the movies, you’ve undoubtedly heard wire transfers mentioned usually as part of some scheme by the bad guy to get the money that they’re wanting from the good guy, which is almost always foiled right at the last minute. If this is all that you know of wire transfers, however, then you likely don’t know much about what they actually are or their real and legitimate purposes.
In that case, here is a little bit of information about what wire transfers are, what purpose they serve, where they come from, and how they work outside of the movies.
In order to get an idea of what wire transfers are and where they come from, it’s important to understand where they originated from. Before computerized banking and modern money transfer systems existed, the world needed a secure way to send money from one location to another in a hurry.