An emergency loan is a form of short-term that covers your expenses in case of an emergency. They are most used to help borrowers pay for unexpected expenses such as paying for car repairs or to get that broken boiler fixed during the depths of winter.
Unlike other forms of borrowing such as payday loans, this form of credit is designed to help pay for immediate, one-off spends which just can’t wait. Emergency loans almost always come with very short terms (usually weeks or months).
