Happy girl explores Advance America's installment loan benefits

Installment Loans

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Installment Loans

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Advance America’s in-store and online Installment Loans provide the money you need today with the ability to pay it back in smaller, multiple payments over time (availability varies by state).

Whether you need the funds to cover everyday essentials or a significant unexpected expense, an Installment Loan can help you get ahead.

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What is an Installment Loan?

An Installment Loan is a type of short-term loan that allows you to borrow a lump sum of money upfront. You can use the money for anything you need and repay the loan in fixed monthly payments, otherwise known as "installments." Depending on the loan terms, your Installment Loan payments can last for several months or even years.

You can apply for an Advance America Installment Loan in just a few minutes. Here's how the process works:


Get an approval decision in minutes for your Installment Loan application.


Receive money same day.* Pay it back in multiple payments over time.

*Online approvals before 10:30 AM ET (M-F) are typically funded to your bank account by 5 PM ET same-day. Approvals after 10:30 AM ET are typically funded in the morning the next business day.

How to apply for an Installment Loan

Applying for an Installment Loan is quick and easy.

First, make sure Installment Loans are offered in your state. Depending on your state’s availability, you can submit an online application or stop by your nearest Advance America to apply in person.

The documentation needed to apply online may vary by state, but in general, you’ll need to do the following:

  • Step 1: Select ‘Apply now.’
  • Step 2: Provide your personal contact information, including your email address and Social Security number.
  • Step 3: Provide your employment and income information.
  • Step 4: Provide your banking details, including your checking account number and your bank’s ABA routing number. Prepaid cards are not accepted.
  • Step 5: Review, sign, and submit your loan agreement. 

Whether you apply online or in-store, filling out an application – and receiving your instant approval decision – takes just minutes!

Requirements for an Installment Loan?

To apply for an Installment Loan, you'll need a few pieces of information to get started.

  • Government-issued ID
  • Source of income
  • Checking account
  • Social Security Number or ITIN (in store only)

Each state has its own requirements, so the documents needed may vary.

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Benefits of Installment Loans

Here are some benefits of getting an Installment Loan from Advance America:

Easy application

Our Installment Loan application is convenient and hassle-free. Complete it in minutes online or in person at an Advance America near you.

Fast funding

Thanks to our instant approval decisions, you can receive the money you need quickly. Funds are typically deposited into your bank account the next business day, and sometimes even the same day you apply!

Fixed monthly payments

Different from a Payday Loan, a personal Installment Loan doesn’t have to be repaid all at once. Instead, you pay it back over time in regular installments ranging from a few months to a few years.

You don’t need good credit

At Advance America, we understand that your credit score may not always reflect your ability to repay. That's why we consider other factors, such as your income and employment history, when making our approval decision.

No hidden fees

We’re a state-licensed company, which means we follow all applicable state and federal laws. Installment Loan rates, terms, and fees are clearly outlined in your loan agreement, so you never have to worry about unexpected charges.

Installment Loan FAQs

Can I get an Installment Loan online?

Yes. Like our in-store loans, online Installment Loans are available in certain states.

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

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

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

Depending on whether you complete an application online or in-store, there are different ways you can receive your money.

In-store Installment Loans are paid via cash or check on the spot as soon as you complete your loan paperwork. If you apply online, your money will be deposited directly into your bank account – sometimes as soon as the same day.*

How much can I borrow with an Installment Loan?

Due to state regulations, the minimum and maximum amount you can borrow with an Installment Loan depends on where you live.

Does an Installment Loan require any collateral?

We don’t require any collateral for our Installment Loans.

Depending on your state’s requirements, we typically only need your government-issued ID, proof of income, checking account information, and Social Security number to process your application.

How do I repay my Installment Loans?

Installment Loan payments will be automatically withdrawn from your bank account on the due date. Cash payments are also accepted in person at any Advance America location.

Depending on your state and loan terms, your repayments can range from 3 to 36 months.

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.

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

Past-due payments may impact your ability to take out future loans with Advance America or other lenders. We’re committed to the fair and lawful collection of past-due accounts and can work with you to establish payment arrangements.

If you anticipate being unable to repay your Installment Loan on time, please get in touch with your local store or call us at (844) 562-6480.

Rates & terms

The rates and terms for our Installment Loans are based on state regulations. Finance charges also vary by state and loan term length.

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