Installment Loan Direct Lenders
As a direct lender, Advance America is proud to offer Installment Loans directly to our customers. This ensures you can get the money you need now while having the flexibility to pay back the loan over time.
What are Installment Loans from direct lenders?
Installment Loan direct lenders issue funds directly to the borrower without using a broker firm or intermediary service.
Since there’s no middleman involved, direct lenders typically offer a more straightforward application and quicker approval process than indirect lenders.
Is Advance America a direct lender of Installment Loans?
Yes, we are a state-licensed Installment Loan direct lender. This means that you can apply for an Installment Loan today – either in-store or online – and, if approved, receive your funds by the next business day. In some cases, you may even receive the funds the same day you apply.
How do Installment Loans from direct lenders work?
Installment Loans from direct lenders are short-term, unsecured loans that let you borrow a lump sum of money upfront. You’ll then pay back these funds in fixed monthly payments (a.k.a., “installments”). Repayment terms can range from a few months to a few years, depending on the lender and loan terms.
Working with a direct Installment Loan lender means the lender handles the application, funding, and repayment process. While indirect lenders may share your data with other companies, direct lenders keep your information private and secure.
How can I use an Installment Loan from a direct lender?
The great thing about Installment Loans is that they’re one of the most versatile loan options on the market. Once the funds are deposited in your bank account, you can use the money for whatever you need. Common uses include:
- Car repairs or auto loan payments
- Home renovations or remodeling
- Making a large student loan payment
- Emergency medical bills
In general, when you need to cover a moderate expense, you might consider an Installment Loan. Since direct lenders offer fast funding, they’re a convenient option for getting the money you need fast.
But what if you only need a few hundred dollars to tide you over until payday? In that case, you might consider a Payday Loan instead.
Can I get an Installment Loan from a direct lender online?
In addition to offering fast funding, direct lenders tout convenience as a top priority. If you choose to apply online, you can complete the application from start to finish on the go or from the comfort of home. Many of our customers choose to get Installment Loans online due to the convenience and accessibility.
Key benefits
Here are some advantages of applying for an Installment Loan through a direct lender:
Simple application
Applying for a direct lender Installment Loan is easy and may only take a few minutes. Depending on your state’s requirements, you’ll just need to provide some personal and financial details, like proof of income, your address, and a government-issued ID.
Quick funding
Once you submit an Installment Loan application, the approval process is often very quick. Many direct lenders offer near-instant approval decisions, so you may find out whether you can get the cash you need right away.
If approved for an Installment Loan, you can receive the funds in your bank account as soon as the same day you apply or on the next banking day.
You don’t need good credit
Many direct lenders have less strict credit score requirements than traditional lenders, and will consider additional factors like income and employment history when deciding whether to approve you. This means even borrowers with poor and fair credit may still get approved for an Installment Loan.
Manageable payments
Installment Loans from direct lenders typically come with fixed payments. Typically, you pay back the loan in monthly installments over a predetermined time, which is outlined in your loan agreement. This can make it easier to budget your loan payments.
How to apply online or in-store
Direct lenders like Advance America make applying for an Installment Loan easy. Here’s how the process works:
- Choose an in-store or online loan, where available.
- Fill out a quick Installment Loan application.
- Receive your approval decision, usually within minutes.
- Review and sign your loan agreement.
- Receive your funds.
- Pay back loan in multiple payments over time.
Is an Installment Loan right for you?
Whether an Installment Loan is the best option for you will depend on your needs and financial situation. Here are some factors to consider when making your decision:
How much money do you need?
Installment Loans are medium- to large-dollar loans that typically offer higher amounts than Payday Loans. Depending on the options available in your state, however, they may not allow you to borrow as much over time as a Line of Credit.
Before applying for any loan, it’s important to know how much money you need and whether an Installment Loan is your best option.
Can you repay the loan?
You should never take out a loan you can’t afford to repay. Before signing any loan agreement, be sure to review the repayment terms and conditions. If you think you’ll struggle to make the loan payments (and possibly default on the loan), it’s best to find another solution.
Are the interest rates manageable?
In addition to repaying the loan itself, it’s also important to consider fees and interest rates when signing the agreement. Fees and interest rates vary from lender to lender and can significantly increase the cost of the loan.
How soon do you need the money?
If you need money fast, an Installment Loan from a direct lender can be a good option. At Advance America, we offer same-day funding for applications approved before 10:30 AM EST.* This can be a huge advantage when you need immediate financial assistance.
Why choose Advance America?
The main benefit of using a state-licensed Installment Loan direct lender is working with a single company from application to repayment.
Visit Advance America today to learn more about our Installment Loans or start your online application now.
