Installment Loan:

Definition:

An installment loan is a loan that is made with or without collateral where the borrower makes consistent payment amounts throughout the term of the loan. The amount borrowed plus costs are divided by a number of equal payments making the payments a fraction of the amount owed but paying the complete amount owed by the last scheduled payment.

The Loan Factory can make an installment loan approval in as little as 15 minutes. But just because you can get your cash signature loan fast doesn’t mean that you need to pay it back fast. Unlike a payday or title loan, your installment loan will not have to be paid back until up to 12 months from the time you get your money.

We specialize in making installment loans. We will offer you a signature loan with installment payments that are at a fixed rate for your secured loan or unsecured loan. The majority of signature loans at The Loan Factory are installment loans that allow you to pay your loan off in 7 to 12 months. When looking for a signature loan that can be approved fast, many people look to a payday or title loan. These loans will have a payback term of 31 days or less. If you need a loan today, it will help you more if you don’t have to pay it back right away. This is why we give you up to a year to pay your loan back. The more you borrow, the longer you get to pay it back. If you want to pay the loan off early, you can. If you decide to pay the loan off early, you may be entitled to a refund of part of the finance charge. The great thing about our signature loan is that it’s up to you.

In addition to giving you more time on your installment loan term, The Loan Factory will structure your payment frequency to coincide with your pay schedule for convenience; usually bi-weekly, semi-monthly, or monthly. No need to write a post-dated check, no need to give us access to your bank account for automatic payments.

So, as you can see, The Loan Factory can approve your installment loan in as little as 15 minutes, giving you the cash you need today, and offers affordable payment terms. What’s next? Put The Loan Factory to work for you! Contact us today and we will set up an installment loan that offers payments in a timespan that you can afford. When you need cash fast, The Loan Factory can help, and all it takes is a phone call to one of our loan specialists.