How to Apply for a Loan or Line of Credit

Maybe you’d like to cover an emergency expense like a car repair or medical bill. Or perhaps you just need some extra money to pay your bills this month. Whatever your situation may be, a loan can help you pay for something when you don’t have the cash on hand.

Advance America is pleased to offer a variety of loans to make life easier for you and your family. From installment loans, payday loans, and cash advances to lines of credit and title loans, we have a loan product to help you keep moving forward.

We make it easy for you to get the funds you need quickly. Best of all, we offer instant approvals and don’t require good credit for loan approval. Keep reading to learn more about our loans and how you can apply for them.

How do loans and lines of credit work?

A loan is a lump sum of money that you can borrow from a lender and pay back over a defined time period, with interest. These types of loans can help you pay for an immediate expense or give you some extra cash before your next payday, depending on what your financial needs are.

A line of credit is a type of flexible loan that you can draw money from up to a specified limit. With lines of credit, you can get easy and flexible access to cash when you need it and will only pay interest on the amount you borrow.

For both loans and lines of credit, the amount you can borrow and repayment terms can vary, depending on the lender and type of loan you choose. Advance America offers installment loans, payday loans, lines of credit, and title loans.


How much money do you need from a loan or line of credit?

The amount of money you need to borrow will depend on the purpose of your loan. If you want to pay for a medical emergency, for example, you’d likely need more cash than you would if your goal was to cover your grocery bill. Since loan amounts depend on where you live, the type of loan you choose, and your personal information, you’ll need to apply to find out how much you may be eligible for.

What is the right type of loan for you?

Loans can be confusing — so don’t worry if you aren’t sure what loan is best for you out of the gate. We’ve created this table to help make it easier to decide which one is right for you and your finances.

Loan Type Who It’s Ideal For
Installment Loan Anyone looking for a longer-term loan with a higher loan amount and payment terms over an extended time period.
Payday Loan, Also Known As Cash Advance Anyone interested in a short-term, small amount loan that will be repaid with their next paycheck.
Line of Credit Anyone who would like the flexibility of being able to draw as much or as little money as they’d like up to a certain credit limit.
Title Loan Anyone who owns the title to their vehicle and wants to borrow money based, in part, on the value of their car.

When should you consider an installment loan?

An installment loan can be a great option if you want to borrow money to help pay for an urgent automobile repair or broken home appliance. If you apply for an installment loan and move forward with one, you’ll pay it back via fixed monthly payments or installments over a certain period of time. Since our installment loans come without prepayment penalties, you’ll be able to pay off your loan early and decrease its overall cost without any consequences.

When should you consider a payday loan or cash advance?

If you’re strapped for cash or need a bit of extra money to get by before your next paycheck, you may want to apply for a payday loan. Also known as a cash advance, a payday loan is a great way to avoid a bounced check or utility late fees. Keep in mind that this loan product is meant to be a short-term financial solution, so you shouldn’t depend on it regularly.

When should you consider a line of credit?

You may be in a situation where you need cash to lean for unforeseen medical expenses or other longer-term money needs. A line of credit works a lot like a credit card. Once you apply for a line of credit and are approved, you can withdraw money from it whenever you’d like up to your borrowing limit. You’ll pay back the amount you borrow plus interest on the amount you withdraw and fees. You do not need a great credit score to earn approval for a line of credit.

When should you consider a title loan?

If you need money right away and own the title to your vehicle, a title loan can be a good choice. You’ll give us the title in exchange for a loan and can continue to drive your car as you pay back the loan. After you bring your car into an Advance America store, we’ll inspect it and offer you a loan that’s comparable to its value. After you agree to its terms and payments, you’ll get the cash immediately. You’ll repay your title loan on your scheduled due dates.

How can I apply for a loan in-store?

Here’s a brief overview of the application process for our in-store loan products, which can often earn you cash in hand on the same day you apply.

Payday loan, cash advance, installment loan, or line of credit

To apply for a payday loan, cash advance, installment loan, or line of credit in person, simply visit an Advance America location that offers your preferred loan product. Be sure to bring in the following items:

  • Government issued photo ID
  • Proof of active checking account
  • Most recent proof of income, such as a recent paystub
  • Social security number
  • Personal check (requirement varies by state)

A friendly, knowledgeable Advance America team member will review with you the loan options available in that store. The team member will then quickly and thoroughly guide you through the simple store location application form, answering all questions along the way. Once the application has been submitted, you will receive an instant approval decision. If approved, you can walk out with the money you need.

Title loan

Wondering how to apply for a title loan? It’s easy! Find an Advance America location that offers car title loans and make sure you have your vehicle so it can undergo the inspection process. When applying in one of our locations, be sure to bring these documents so we can immediately process your application:

  • Vehicle title
  • Proof of residence (utility bill)
  • Government issued ID
  • Proof of income
  • Proof of registration and insurance (required in some states)
  • Your vehicle for inspection only

It’s important to note that your car must be registered in your name and paid off in full. The amount of money you receive will depend on the value of your car. Your gross monthly income may also play a role, depending on where you live.

How can I apply for a loan online?

If you lead a busy life and just don’t have time to go into an Advance America location, you may be asking yourself, “Can I apply for a loan online instead?” The answer is yes! Some Advance America loan types are available online in select states. From the comfort of your home, using your mobile phone, computer or tablet, you can apply online for the money you need. Let’s take a closer look at what you can expect if you choose to apply for a loan online.

Cash advance, payday loan, installment loan, or line of credit

To apply for an online cash advance, payday loan, installment loan, or line of credit from the comfort of your own home, you’ll need go to the top of the Advance America website and click on the “Apply” button. You’ll need the following information in order to complete the online loan application:

  • Valid Social Security number
  • Active email address
  • Active checking account
  • Source of income

The loan application will ask you to go through these four simple steps.

  1. Provide your personal contact information including your name, address, phone, email address, date of birth and SSN
  2. Provide your income information including your income before taxes are removed, how often you are paid and if the income is directly deposited.
  3. Provide banking details to let us know where you’d like your funds deposited if approved for the online loan. You’ll need both your checking number and ABA routing number. We do not accept prepaid debit cards.
  4. Submit your online loan application.

Within seconds, you should receive instant feedback on the application approval decision. If approved, follow the quick instructions to choose your loan amount and provide your e-signature. Your money will be deposited into your bank account. Online applications or draws processed before 10:30 AM ET (Monday-Friday) may be eligible for same-day funding to your bank account. Online loan applications processed between 10:30 AM ET and 8:00 PM ET are typically funded the next banking day, but exceptions may apply. In some states, picking up cash at your closest store is an option to consider.

What to do before you apply for a loan or line of credit

Here are some steps you can take before applying for a loan or line of credit:

Check your credit

Many lenders consider your credit history and credit score when considering your loan application. Reviewing your credit history can help you figure out which lenders may approve you and what loan may be right for you. At Advance America, you don’t need good credit to get approved for a loan, and you may qualify with poor or fair credit.

Choose the right option for you

Compare loan options and consider your financial needs to find the best loan for you. You may want an installment loan if you would like a flexible amount of money to draw from when needed or a payday loan if you need a small amount of funds to cover expenses before your next paycheck.

Compare lenders

Do some online research to choose a safe and legitimate lender that offers the loan you need. Advance America is a safe lender that holds an A+ Business Bureau Rating and 5-star TrustPilot rating for your peace of mind.

How loan repayment works

The repayment process will depend on the particular loan you took out and the terms you agreed to. You can repay your loan in-person at a nearby Advance America store via cash, money order, or cashier’s check. Depending on your loan type and location, you may also be able to make your payments with a debit card.

You can also repay your loan via phone. Simply call our customer service line at 877-505-0701. Additionally, we accept online payments that you can schedule in advance by logging on to your account portal.

While you can’t skip or defer a payment, we may be able to extend your payment due date or enroll you into a repayment plan if you’re struggling financially.