Frequently asked questions

Installment Loans

What’s an Installment Loan?

An Installment Loan gets you the money you need today, with the ability to repay over time. Installment Loans are longer-term personal loans with terms from 2 to 24 months, depending on your state. We offer Installment Loans in both in-store and online in most states.

How much money can I get?

Installment Loan amounts vary by state. When applying for a loan, we use your personal information to determine a loan amount that works for you.

Do you check my credit when I apply for an installment loan?

For Installment Loans or extended term loans, we will review third party data sources to verify credit.

What do I need to apply?

To apply for an Installment Loan, you will need the following:

  • Government issued ID,

  • An active bank account,

  • Recent proof of income,

  • Valid Social Security number,

  • Active email address for Online Loans.

How do I get an In-Store or Online Installment Loan?

In-Store and Online Installment Loans are offered in select states. To see if Installment Loans are available in your state, view your options by entering your zip code here.

What is the difference between a Payday Loan and an Installment Loan?

Understanding the differences between Payday Loans and Installment Loans can help you decide the best fit for you. A Payday Loan or Cash Advance is a short-term personal loan where you pay a one-time fee based on the amount borrowed. Payday Loans are ideal as short-term solutions to money needs in between paychecks, or to handle emergency expenses.

In-Store or Online Installment Loans are typically larger loans that are paid back over time. These types of loans can give you more money at one time, and allow you to repay the money over a longer period of time. These are ideal for customers who prefer to pay back in increments as time goes on.

When are my payments due?

Typically, your loan payments are aligned with your pay dates. During the loan process, we will review the specific due dates and amounts associated with your loan to ensure you understand the terms of the agreement before finalizing.

Can I pay off my Installment Loan early?

Yes. There is no penalty for paying off your loan early and doing so may decrease the overall cost of your loan.

What is the difference between a Payday Loan and an Installment Loan?

Understanding the differences between Payday Loans and Installment Loans can help you decide the best fit for you. A Payday Loan or Cash Advance is a short-term personal loan where you pay a one-time fee based on the amount borrowed. Payday Loans are ideal as short-term solutions to money needs in between paychecks, or to handle emergency expenses.

In-Store or Online Installment Loans are typically larger loans that are paid back over time. These types of loans can give you more money at one time, and allow you to repay the money over a longer period of time. These are ideal for customers who prefer to pay back in increments as time goes on.

What’s an Installment Loan?

An Installment Loan allows you to get money right away, plus pay back the loan over time in several smaller payments. Compared to Payday Loans, Installment Loans offer longer personal loans, ranging from 3 to 24 months, and are available both in store and online, depending on your state.

Why get Installment Loans from Advance America?

Installment Loans allow you to pay back your loan the way that fits your needs, with longer-term repayment options. This means you have the ability to repay with multiple payments over time.

We're a state licensed company, which means we follow all applicable state and federal laws.

All Installment Loan rates, terms, and fees are explicitly outlined in the agreement with no unexpected charges or hidden costs when borrowing.

How do I get an In-Store or Online Installment Loan?

In Store and Online Installment Loans are available only in certain states. Visit this page to see if Installment Loans are offered in your state.

How do I apply for an Installment Loan?

The application process for this loan is quick and easy. Simply choose an in store or online loan, where applicable, fill out a quick application, get approved in minutes, and get money as soon as the same day*!

Be sure to review the “What You'll Need To Apply” section and click on “Learn More” for more details on what you'll need to receive an Installment Loan in your state.

What are the benefits of getting an Installment Loan?

This loan gets you the money you need today with the ability to make scheduled payments over time based on your pay cycle. Plus, the application process is quick and easy, with the option (depending on your state) to apply both in store and online. To find out what types of Installment Loans are available in your area, click here.

When and how is the cash from my Installment Loan deposited?

There are several options for how you may receive your money, depending on whether you complete your application in-store or online. For an in store Installment Loan, you can receive cash or a check as soon as you're approved and sign your loan paperwork. Should you choose to apply for your Installment Loan online, your money can be directly deposited into your bank account as soon as the same day.* Select your state above, or to see if Installment Loans are available near you, click here.

What is the minimum/maximum amount of money available with an Installment Loan?

The minimum and maximum amounts available to you with an Installment Loan vary by state. To learn details about the amounts available in your state, visit our state page.

What are the requirements to apply for an Installment Loan?

In order to apply for an Installment Loan, you'll need to provide a government issued ID, proof of income, checking account, and verification of social security number. Requirements vary by state. For specific information, click here to visit your state page.

Do I need perfect credit to apply for an Installment Loan?

Advance America considers customers with all types of credit. For Installment Loans, we will review third party data sources to verify credit.

Does an Installment Loan require any collateral?

Collateral is not required for an Installment Loan. All we need from you is your government issued ID, proof of income, checking account, and verification of social security number in order to complete your application. To learn more about which documents are necessary to process your application, please click here.

How do I repay my Installment Loans?

Repayment of your Installment Loan will take place on each installment due date, which typically follows your pay dates, via auto withdrawal from your bank account or cash payment at your location. Depending on your state, repayment will take place anywhere from 3 to 36 months and generally coincide with your pay date.

When are my payments due for an Installment Loan?

Typically, your loan payments are aligned with your pay dates. During the loan process, we will review the specific due dates and amounts associated with your loan to ensure you understand the terms of the agreement before finalizing.

What if I cannot pay or will be late repaying my Installment Loan?

Please contact us at your local store or call (844)562–6480 if you are unable to make your Installment Loan payment on time. Advance America will work with you to establish payment arrangements for your Installment Loan. And we're committed to collecting past due accounts in a professional, fair and lawful manner. Past due payments may impact your ability to transact with Advance America and other lenders.

Still have questions?

We’re here to help. Connect by chat, phone, email, and more.

Contact Us