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And made it mandatory for a lender to conduct credit checks on loan applications before disbursing funds.

You do not have to apply for or be receiving financial support to use for a Short-Term . This differs from pay day loans in that these are paid in one lump sum.
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You can make great long run cash by investing in the short term, not since you buy a inventory and look ahead to it to go up.
As a substitute you make long run money by taking smaller income right here and there, many times and once more.
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In case you are in the course of a monetary urgency, it will then appear acceptable to contemplate the option of brief time period cash loans.
Remember, these loans are for comparatively short periods of time, one to twelve months, and have to be repaid in full on the due date.