The interest rate on a short term loan can vary significantly for borrowers, depending on factors such as credit scores, annual revenue and more. At OnDeck, interest rates for short term loans are competitive and our pricing is transparent — so you’ll always know your cost of capital up front. Lots of customers ask if they can receive the funds of their loan the same day that they apply, and we answer YES! Short-term loans are also increasingly popular due to the speedy pay-out of the funds, with most lenders being able to send you the funds within 10 minutes of being approved^. Short term loans can be processed within one day through reputable online lenders. For those with a less than excellent credit history who need money quickly, short-term loans are a good option. Lenders will often prefer cash flow than credit history when assessing a short-term loan application. But the rate of interest on the loan will certainly take into account the credit history, along i need a payday loan with bad credit with other criteria.