What type of loan did Frank experience when offered a high-interest loan that needs to be paid back quickly?

The type of loan Frank experienced is a payday loan, which is characterized by high-interest rates and a short repayment period. Payday loans are typically small, short-term loans intended to be paid back by the borrower’s next paycheck. Their appeal lies in quick access to cash, but they often come with excessive fees and high interest, leading to a cycle of debt if not repaid promptly.

Other types of loans, such as personal loans, mortgage loans, and title loans, generally have longer repayment terms and lower interest rates relative to payday loans. Personal loans can be used for various purposes, and while they may come with interest, they aren't usually due in the short timeframe of a payday loan. Mortgage loans are intended for real estate purchases and require much longer repayment periods, as well as secured collateral. Title loans may involve borrowing against the value of a vehicle, but typically they also offer longer terms than the immediate payday loans that Frank experienced.