What Is an Installment Loan?
Each year thousands of Americans struggle with their finances and spend time searching for solutions. As you probably know the solutions can be confusing and sometimes seem endless. Here at cashloans.loan we want to make it easy for you to find the right option for your specific situation. One popular resource for individuals who are worried about how they are going to make it through to the next paycheck is an installment loan.
What are Installment Loans?
Installment loans are loans that are paid back over time in a certain number of installments. The amount of the loan and the number of installments are determined by several variables. First, installment loan online lenders will want to know if you qualify, and lucky for you the qualifications for approval are simple. They are:
Age – Qualified applicants for online installment loans must be 25 years or older.
Banking Account – To receive payday installment loans the borrower must have a valid bank account that can receive direct deposits.
Minimum Income – Because installment loans are paid back over the course of several months, the lender typically wants the borrower to have a monthly income of at least $1300 per month.
Employment – In most cases proof of employment is required to receive an installment loan.
If you meet these minimum qualifications and want to learn more about how to start the process of receiving an installment loan then simply fill out our online application or call our toll free number at cashloans.loan today!
Installment Loans For Bad Credit
One thing that you may have noticed above is that the qualifications for online installment loans do not require a credit check! That means that even with bad credit, or even no credit, you won’t have to worry about that being a hindrance to you being approved for an installment loan. That’s not the only benefit of choosing to apply for online installment loans.
They are also fast, easy, and hassle free. You can complete the entire installment loan application online at cashloans.loan and never have to worry about standing in line or hoping that a store is open. Once your loan paperwork is signed and approved you could see the funds hit your account in just a couple of business days. To start this simple process just fill out the online application here at cashloans.loan or call our toll free number to speak with a representatvei who would be more than happy to answer your questions.
Process of Receiving Online Installment Loans
So now that you’ve decided that an installment loan is right for you – how exactly do you get one? You’ve come to the right place. At cashloans.loan you can start the process from the comfort of your own home or anywhere with an internet connection. First, you’ll need to fill out the simple online application.
The application is a safeguard to make sure you qualify so it will include questions regarding your age, banking information, income, and employment. These are all items that you shouldn’t have to search too hard to find, because again, cashloans.loan wants to make obtaining installment payday loans as easy as possible for you.
Next, your application will be reviewed and someone will contact you to discuss your options. Once this takes place you will receive electronic copies of loan paperwork for you to spend some time reviewing to ensure that you understand everything about the future of your installment loan.
The documentation will include items such as your loan amount, the number of installments, the length of time you will have to pay back the loan, and the amount of penalty and interest you could accrue if for some reason the loan is not paid back on time.
At this point your installment loan lender will most likely encourage you to review the paperwork to make sure you don’t have any questions or concerns about the process. After you are satisfied with the terms of the installment loan documentation you will sign it, send it back to the lender, and wait a couple of business days for the funds to hit your account. It’s as easy as that!
Ready to Apply for an Installment Loan?
If you are ready to apply for an online installment loan today then please don’t hesitate. Just fill out the easy online application here at cashloans.loan or call our toll free number so a representative can walk you through any questions you might have. Financial help is out there, and you could see the results you need in just a few business days. Let cashloans.loan help you out today!