An installment loan is a popular form of borrowing in the modern world. Borrowers can borrow the money to deal with any emergencies that they may be facing, such as medical and other expenses. You are required to repay the loan in equal installments. The number of installments will vary based on your income, interest rate and your lender’s terms and conditions. You will repay the loan gradually until you clear it. The loan is to bridge the gap between payday and dealing with the financial emergency. Life is full of surprises and it can change instantly, driving you into tough financial times. As a result, you may not have the cash to meet urgent financial needs. Often, financial emergencies usually cause stress to the person involved and you should be in a position to handle the problem quickly. Features of online installment loans include
- Quick decision
- Wide range of borrower eligibility
- Simple loan request process
- No hidden charges
- No collateral
- No application fees
- Quick transfer
- Unique approach of assessing creditworthiness
Easy Loan Request Process
When you want to request for online installment loans, it is easy to use our platform to access loans from the lenders in our network. We are ready with a professional support staff to help borrowers understand the loan and their terms and conditions. Depending on what you want to use the loan for, once you meet the requirements, you will be given an update by your lender on your qualification status. In the conventional systems, unless you have a perfect credit, you could not qualify for a loan. Once you have filled out a loan request form available on our website, the next thing to do is to send it to us and we will forward it immediately to the lender who will fund your loan.
- Many people confuse payday loans with installment loans. Payday loans are not installment loans. In most cases, your lender will require a post-dated check as a form of guarantee that you will repay the loan on time. In other cases, you can allow the lender to make an automatic electronic deduction from your account.
Online installment loans can help you deal with unexpected expenses. Here you can request for online installment loans to help you deal with them quickly and avoid further complications. Common features of online installment loans include
- Online installment loans can help you deal with a current financial emergency.
- Your loan request is processed quickly.
- You will receive the money in your account as soon as your lender approves the loan request.
- Even with a less than stellar credit history, you can qualify for a loan as long as you meet the criteria.
Why online installment loans?
Many people are looking for extra cash to deal with emergencies and they do not understand the options that are available to them. If you are in a hurry and want a loan, online installment loans are simple, quick and easy to request. As long as you have an internet connection, you can log in our website and make the loan request. We will forward the information to the lenders in our network who will fund your loan. As the name suggests, you are not required to repay the installment loans all at once.
Criteria of getting online installment loans
Requesting for an online installment loan is quite simple and you are not required to produce chunks of documents. Here are some of the criteria that you should meet.
- You must be at least 18 years of age, otherwise you will not get the loan.
- You must be a legal resident of the United States of America.
- You need to have an active checking account. This is where the money will be deposited and where your lender will deduct the loan amount if you give them access to deduct the monthly deductions.
- You must have contact details (phone number or working email address) where your lender can reach you in case of any changes or updates on the loan.
- The last and very important aspect in qualifying for online installment loans is proof of recurrent income or employment. Without a stable income, some lenders see it as a risk to grant you a loan.
Advantages of Online Installment Loans
There are various reasons why people take out installment loans. Often they need money fast to deal with upcoming emergencies and they are daunted by the conventional lending institutions because of their poor credit scores. However, online installment loans allow the user to access loan facilities. Benefits of online installment loans include
- Speed – this is the most crucial aspect for many people making loan requests. You want the process to be as fast as possible because you are dealing with an emergency. We have simplified the loan request process and will connect you to hundreds of lenders in our network who will finance your loan.
- We do not promise instant approval on any loan type. However, our network of lenders have experience in this field and they know what the clients want and they will deal with your loan request as soon as they can and send you feedback via your email address.
- The application process is simple and user-friendly. The whole process can be done online.
- Since we have many lenders in our network, you can get a range of loan options and choose one that suits your needs.
Your lender will perform a soft credit check to evaluate the information that you have given. We strive to expedite the loan process to allow borrowers to get feedback as soon as the lender verifies the information supplied.