Short-term loans drawn upon by individuals and families for immediate cash needs and repayable in a lump sum are known as:

Name: Short-term loans drawn upon by individuals and families for immediate cash needs and repayable in a lump sum are known as:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Noninstallment loans are loans that are repaid in one lump sum instead of installments over time, making them a suitable option for short-term cash needs. Examples include payday loans, cash advances, and tax refund anticipation loans.

Short-Term Loans Drawn Upon by Individuals and Families for Immediate