Advance America Installment Loan

What is an installment loan?

An installment loan is one of the types of credit programs when you can obtain a relatively big amount of money and repay it during a long period. Usually, the repayment period takes from three months to two years, so you can make small deposits every month to pay the money back.

There are installment loans that you can request offline as well as online. Installment loans are available in different states, but their conditions may vary from company to company.

Installment loan requirements

You need to apply for an installment loan in your state to learn the requirements of the lender because the laws differ between states. However, an installment loan typically has the same terms in every area.  

A bank or other lender checks several factors to provide approval decision about the installment loan:

  • Credit score
  • Credit history
  • Social security number
  • Proof of income
  • Information about debt
  • Monthly payments
  • Bank account

Some companies approve requests for clients with low credit scores or poor credit histories. So you do not need to worry if it is your first loan request or you had some problems with credits before. These factors can influence the terms of the installment loan but not an approval decision. 

A lender will set the size of the interest rates and period of time for repayment based on preliminary conditions.

Advance America online installment loan

You can investigate offers from Advance America to find a suitable installment loan in your area. They provide lots of online loan options so you can get money in one day after your request. Obtaining a loan online will decrease the time you should spend on searching for an offer and managing the loan.

Leave a loan application on the Advance America website, go through the application process, and get money on the morning of the next business day. 

Do not forget to deposit a payment regularly to not worsen your credit history. Late repaying can cause an increase in interest rates and other types of punishment.