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Even with little debt, managing finances these days can be challenging. Moreover, debt can mount up quickly in the event of unexpected costs. You will need to find a way to handle these financial responsibilities to deal with this. However, avoiding the debt trap is equally crucial. In this situation, managing your small debts with the help of short-term loan can save your life.  

Access to short-term personal loans has improved. Because of online loan apps such as Zap Money. For immediate financial needs, an instant short-term loan may be a good choice when it comes to managing your debt. Before going further into debt management, let’s understand what the types of small debts are and how taking a short-term loan can help close them.  

Understanding Small Debt  

The amount of money you borrow for regular expenses, minor emergencies, or unforeseen liabilities is known as a small debt. It’s critical to manage these small debts well to maintain good financial standing and avoid more serious issues down the road.  

What are Short-Term loans?  

The term “short-term loan” describes loans that are paid back quickly, typically within a few weeks or up to a year. These loans can be a useful tool for managing small debts because they are intended to offer immediate financial assistance.

Benefits of Short-Term Loans 

Here are the advantages of Short Term Loans:  

Collateral-free: Most short-term loans are usually unsecured loans. Therefore, you are not required to put down any asset as security to borrow money from the lender.  

Easy to secure: Because of the potential for smaller loan amounts and terms, short-term loans are more accessible. For example, if you want to finance business operations using gold, you can acquire a quick loan.  

Flexible usage and repayment terms: The loan amount can be used to cover practically all of your immediate needs. For example, the borrowed money can be utilized to settle utility bills, remodel a workplace, or for urgent financial needs. These loans provide you with the flexibility to select a period that best suits your financial situation because of their flexible repayment options.  

Quick Access to Funds: Short-term loan apps such as Zap Money process quick loans making them ideal for emergencies.  

Types of Short Term loans:  

The term “short-term loans” describes loans that are paid back quickly, typically within a few weeks to a year. These loans can be an effective option for managing little debt because they are intended to offer immediate financial relief.  

Payday loans: These are small, high-interest loans due to be repaid on the next day. They are meant to cover immediate, unexpected expenses but can lead to a debt cycle if default on repayment.  

Personal loans: Personal loans are unsecured loans which means you can obtain them without collateral. These loans can be used for various purposes including consolidating small debts.  

Credit Card Advances: Although this option typically carries a high interest rate, you can borrow money against your credit card limit.  

Line of Credit: This is a flexible credit option where interest is only charged on the amount borrowed, up to a predetermined maximum.  

Steps to manage your small debts using a short-term loan  

Step 1: Assess your debt situation  

  • List all debts, their amounts, interest rates, and due dates  
  • Determine which debts are most urgent  

Step 2: Create a budget  

  • Track income and expenses  
  • Identify areas where you can cut costs  

Step 3: Research loan options  

  • Compare different short-term loan types (as discussed earlier)  
  • Be careful of the fees, interest rates, and periods of repayment.  

Step 4: Choose the right loan option  

  • Select a loan that matches your repayment ability  
  • Ensure loan terms are clear and manageable  

Step 5: Apply for a short-term loan  

  • Complete the loan application form with the correct information.  
  • Upload the necessary files, including bank statements, Aadhar card, PAN card, and proof of income.  

Step 6: Use the loan responsibly  

  • Apply the loan directly to pay off the targeted debts  
  • Avoid using the loan for new expenses  

Step 7: Set up a repayment plan  

  • Create a schedule to repay the short-term loan  
  • Prioritize this repayment in your budget  

Step 8: Monitor your progress  

  • Regularly review your debt situation  
  • Adjust your strategy as necessary  


Effective small loan management requires careful budgeting and smart spending for urgent short-term loan choices. With caution, short-term loans can be an effective strategy for managing debt. They frequently have high interest rates and fees, even while they might give you instant access to money for things like paying off pressing bills or consolidating high-interest debt.  

Efficient borrowing and proper repayment are essential for good financial standing and building a favorable credit record. To obtain the financial flexibility you require to keep on track, you can apply for a short-term loan from Zap Money, no matter whether you’re handling unexpected expenses or trying to combine your little debts. 


What is a short-term loan?

A short-term loan is a type of borrowing that is typically repaid within a short period, usually within a few months to a year. It is designed to help individuals manage small debts or unexpected expenses.

How can I apply for a short-term loan?

To apply for a short-term loan, you can install the Zap Money app from Playstore and enter your personal information, such as your income, employment details, and identification documents to apply for a short-term loan.

What are the benefits of using a short-term loan to manage small debts?

Short-term loans can provide quick access to funds to help you cover small debts or urgent expenses. They often have a simplified application process and faster approval times compared to traditional bank loans.

What should I consider before applying for a short-term loan?

Before applying for a short-term loan, consider the interest rates, fees, and repayment terms associated with the loan. Make sure you can comfortably afford the repayments and understand the impact on your overall financial situation.

Hariharan Ravichandran


The ZapMoney app makes personal finance easy, accessible, and affordable. The App is available on Google Play Store and App Store for download, allowing you to sign up and access easy personal loans. ZapMoney is powered by Monexo Fintech Private Limited which is a registered NBFC-P2P.
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