Financial needs do not always arrive according to a convenient schedule. A business may experience a temporary cash-flow gap before receiving payment from customers. An individual may face an unexpected expense before their next paycheck. In situations like these, borrowing for a relatively short period can sometimes provide a practical source of liquidity. This is where short-term loans enter the picture. Unlike long-term financing, which may stretch across several years, short-term borrowing is generally structured around a much shorter repayment period. The exact duration, cost, eligibility requirements, and legal protections vary according to the lender, borrower, loan product, and jurisdiction. Understanding how these loans work is important because the speed…