How Can I Apply for an Online Loan?

Online loans are more popular than ever before, and you don’t have to travel to a bank, credit union, or a lending company to get one. These loans offer a convenient way to get funds quickly, and you can apply for them in minutes from the comfort of your home.

How Do Online Loans Work?

Online loans let you borrow money from an online lender. You can fill out an application on the lender’s website and, if approved, get the funds deposited directly into your bank account. Many online loans are unsecured, meaning you don’t need to use an asset (such as your house) for collateral.

How to Apply for an Online Loan

If you’d like to apply for an online loan, follow these steps:



  1. Determine Loan Type: There are a variety of online loans available. Figure out if you’d like a payday loan, installment loan, or another type of loan.
  2. Find a Lender: Shop around the internet for a legitimate lender that offers the type of loan you’d like.
  3. Fill Out Application: Visit the lender’s website and fill out the application with your personal and financial details.
  4. Wait for Approval: Be patient and wait for the lender to evaluate your application and determine whether to approve you.
  5. Receive Funds: Upon approval, the lender will likely deposit your money directly into your bank account.

Benefits of Online Loans

There are a number of benefits that online loans offer, including:

Easily Apply Online

As long as you have internet connection, you can apply online from just about anywhere. You’ll complete a quick application form that will likely ask you for a few personal and financial details about yourself.

Receive the Funds Quickly

If you get approved for an online loan, you won’t have to wait long to receive your money. In fact, many lenders will disburse the funds into your bank account within 24 hours or a few days.

Potentially Lower Fees

Depending on the online loan you choose, you may be able to save on fees. Fortunately, some online lenders charge low or even no origination fees, late fees, and prepayment fees. If you have good credit, you can also score low interest rates.

Good Credit Isn’t Required

If you don’t have great credit, you can still get approved for an online loan. Many online lenders will consider your employment, income, and other factors instead of solely your credit. You may be able to get approved with a fair or even bad credit score.

How Online Loans Compare to Traditional Loans

With a traditional loan, you may have to wait weeks or even months to get approved. An online loan will likely come with a faster approval process of 24 hours or a few business days. In addition, online lenders tend to have more lenient requirements than banks, credit unions, and other traditional lenders. They may approve you, regardless of your credit history.

Apply for an Advance America Online Loan

Advance America offers online loans that can get you the money you need to cover your expenses. Once you choose from our wide range of loans, including payday loans, installment loans, and lines of credit, you can fill out a quick application online or in-store. You can apply with any level of credit and may receive a decision instantly. If you get approved for an Advance America loan, you can receive the funds in your bank account the same day you apply.




The Advance America advantage

Since 1997, Advance America has helped millions of hardworking people with a variety of financial solutions including Payday Loans, Online Loans, Installment Loans, Title Loans and Personal Lines of Credit.
148+ million
loans issued
900+ stores
and online loans
25+ years
providing loans