|Loan Site||Loan Amount||Term||Lender Details||More Details|
|$200 - $2,600||1-18 Months||A state licensed lender with more than 180,000 customers. You may qualify for their loan even if you have bad or no credit.||Visit Site|
|$1,500 - $25,000||4 - 48 Months||Same day payments are available & you can expect phone support during the application process. Also have many retail locations.||Visit Site|
|$2,000 - $35,000||24 - 60 Months||In business since 2012 with over 3 billion loans originated through the Avant platform. Loans may fund by the next business day.||Visit Site|
|$2,500 - $5,000||4-8 months||Large direct lender that's been funding personal loans since 1994. They currently provide online installment loans in 10 states.||Visit Site|
|$2,500 - $10,000||6-48 months||On time payments are reported to the credit bureaus. They offer loans in approx. 23 states and you can get qualified in about one hour.||Visit Site|
|$1,000 - $40,000||1-60 months||Online marketplace that connects loan applicants with investors. Claim to be largest marketplace with $20 billion funded to date.||Visit Site|
|$1,000 - $50,000||36-60 months||Check your prospective rate in less than 2 minutes and get next day funds if you qualify. 40,000 personal loans funded to date.||Visit Site|
|$1,500 - $25,000||4-60 months||Offering installment loans in nearly every state for well over 3 decades. They claim to have a 90% consumer satisfaction rate.||Visit Site|
|$1,000 - $35,000||1-60 months||Peer to peer lender with generally low interest rate that is an option for people in Texas that are in need of an online loan.||Visit Site|
|$2,500 - $3,400||1-18 months||Funding direct installment loans in over 30 states. They have over 2 million customers and a 95% client satisfaction rate.||Visit Site|
|$2,500 - $5,000||4-8 months||Over 1000 retaillocations throughout the country. They also fund direct installment loans online with next day funding.||Visit Site|
Installment loans don't need to be expensive. If you know how to shop around you can find a decent rate.Read More
You borrow money with Installment loans and Payday loans. Besides that they're very different types of loans.Read More
It shouldn't take hours to find a direct installment lender. Learn our tips to quickly select a installment loan.Read More
Installment loans are paid off over time and your lender will typically give you a set amount of months to pay off the loan. A payday loan is often viewed as a short term loan where the consumer pays back the loan all at once. Payday loans are typically paid back in a matter of weeks while installment loans are paid back over months or even years.
Each lender will have different requirements of consumers that apply for direct installment loans. Some companies will require that you have an active checking account that has direct deposit. Nearly all lenders will need you to be currently employed and making at least $1,000. Keep in mind, the more money you’re looking to borrow the higher the amount will be that you need to make. Also, nearly every lender will need you to be at least 18 years old with no recent bankruptcies. Those are the main requirements. Be sure to check with your lender on their individual requirements.
Each lender has a different process in place for qualifying applicants. However, most direct lenders will try to contact you over the phone to verify specific information. They may also need to contact your employer to verify employment. Another requirement may be that you need to verify your bank information or direct deposit information. Once all the pertinent information has been verified they will underwrite the loan and hopefully approve you within that same business day. Assuming you’re approved, it will typically take 24 hours for you to get the cash you need.
Yes, most companies that fund direct lender installment loans are regulated by the state they provide loans in. That’s why you some direct lenders only fund loans in specific states. All states have different regulations that cover installment lenders and these regulations can be extremely harsh. You should always check with your lender and make sure they’re licensed in the state you reside in. That way you have the protection of your state if things don’t go as planned.
Having bad credit won’t necessarily preclude you from getting an installment loan. Unlike traditional bank loans, you won’t be automatically denied if you have recent marks on your credit report. Installment loans come with high interest rates, with that most lenders know that people who apply for loans at these rates aren’t going to have too many options. You can generally expect a higher interest rate and lower loan amount if you have bad credit and your loan options will trend downwards the worse your credit score gets.