Keep in Mind

  • Paying back quickly gives you the best rate. Any loan can be costly if you let the balance roll over without paying it off as soon as possible. Request a dollar loan amount that you will be able to pay back quickly.
  • Don't borrow more than you need.Consider taking only what you need so that you can pay your loan off sooner. You can always come back for another loan if you need additional cash. Paying off a smaller loan quickly then taking another small loan can be less costly than taking a single loan that is too large to pay off right away.

Sierra Lending

We know that money doesn't grow on trees, but here at Sierra Lending we're dedicated to making the loan process as easy as can be. When you need cash fast, we want to provide you with easy access to a loan. That's why we offer Quick Approvals and longer hours - so we're here when you need us.

You don't have to worry that your lack of credit history or bad credit score will hold you back. We understand how people can fall behind sometimes and need assistance when banks and other sources of emergency cash are unwilling to help. We're willing to overlook your less-than-stellar credit history if you qualify with a good job, a bank account with direct deposit, and if you meet our other underwriting guidelines. Check out our FAQ page if you have other questions about our loan process or don't waste another minute; Apply Online Today.

Our Short Term Loans

Many lenders advertise short-term loans ranging from $100 to $1,500. A typical realistic loan amount for a first-time borrower is $300-$500. Requesting a lower loan amount will make it easier for a first-time borrower to find funding online. As a general rule, you should request the lowest amount that you need immediately and make every attempt to pay back your loan as quickly as possible. Both the speed at which online short-term loans are processed and the chance that lenders take by approving "risky" borrowers tend to add up to higher than average finance fees charged. 

Uses for Short Term Loans

  • To pay for an emergency car or home repair.
  • To pay for a doctor bill or other medical expense.
  • To pay for an unexpected bill, such as an unusually large phone bill.
  • To prevent your checking or savings account from being overdrawn; avoiding high bank NSF fees.
  • To cover a check that you don't have adequate funds for; avoiding multiple bounced check fees.

Loan Terms and APR

The annual percentage rate or APR is a calculation of the fees of a loan in relation to the amount of money being borrowed. It is intended to allow consumers to more easily compare the costs of borrowing when comparing different loan types, amounts, and terms. The number reflects the cost of obtaining a loan on a yearly or annual basis.

APR is very useful when comparing long-term loan costs, such as a home mortgage or car loan. It is less useful when applied to short-term loans or credit card rates.

There are two types of APR: nominal and effective. Nominal APR is calculated as: the rate for a payment period, multiplied by the number of payment periods in a year. Effective APR can include various fees, service charges, and compound interest. The APR can also vary greatly based on one-time fees, interest only payments, and other variances of individual loan types. APR will always be disclosed before the loan is finalized so that customers can make an informed decision.

Since APR is a yearly figure and a short-term loan is intened to be repayed in a number of weeks, the APR will always appear high. Thus, the APR comparison tool is not perfect. The best way to determine what you will have to pay is to know and understand the terms of your loan. The important numbers are dollar amount or percent of interest charged per $100 borrowed, the length of time before you will payoff your loan, and any associated fees in the case of rollovers, extensions, or missed payments. To get the lowest fees on any short-term loan it is best to pay the loan off as soon as possible.

Sierra Lending APR & Terms

The terms and APR (annual percentage rate) charged for your short term loan will depend on the individual applicant information you provide — as well as the state and lender with whom you are matched. Upon completion of a short term loan application, the appropriate lender will provide a comprehensive detail of your loan information. The short term loan information will include a full APR and fee disclosure, including all relevant information regarding the loan payback date. At this time, the applicant is under no obligation. It is strongly advised that each applicant review the short term loan documentation fully before accepting the short term loan and associated terms. Again, as an applicant, you are not under any obligation to accept the loan. customers should be aware that there may be better alternatives in terms of loan APR available through other lending agencies. We suggest printing or saving a copy of your short term loan offer and documentation for future reference.
In most cases, the finance fee will be 30% of the balance, or $30 per $100 borrowed.

Your Short-term Loan Includes No Hidden Rates or Fees

The short term loan offer documentation discloses completely your loan APR and any associated fees. All loan applicants may feel free in deciding to accept the short term loan based on this documented disclosure, with the complete understanding that your short term loans will never be assessed any additional undisclosed fees or changes to your APR.