Installment Loans from direct lenders are cash advances of the amount from $1000 to $5000 repaid in scheduled equal installments. Direct lenders provide really fast and easy loans, available even for bad credit borrowers. Follow all the process from choosing a lender to getting and paying back the money with all the details in the article below.

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Table of contents:

Guaranteed Installment Loans from direct lenders

How Installment Loans from direct lenders work?

Direct lenders offering installment loans for bad credit

No credit check Installment Loans approved by direct lenders

No teletrack Installment Loans from direct lenders

Easy approval Installment Loans from direct lenders

Monthly Installment Loans from direct lenders

Long term Installment Loans form direct lenders

Instant Installment Loans from direct lenders online

Tribal Installment Loans from direct lenders

Guaranteed Installment Loans from direct lenders

99% of direct lenders advertise guaranteed approval for Installment Loans. But every borrower should understand the sense of this offer – it doesn’t mean that anyone who applies for an Installment cash advance get 100% approval. Every direct lender has their own requirements, terms and conditions. Besides, they must operate under the state’s laws which also vary and set certain regulations on the lending industry.

Hardly is there a direct lender ready to approve you if you are unemployed, or under the age of 18, or have no bank account. At least, you should meet the basic eligibility criteria:

  • a steady source of recurring income;
  • residence in the state you choose for your loan application;
  • being at least 18 years of age;
  • absence of debts or bankruptcy;
  • not being a regular or reserve member of the Army, Navy, Marine Corps, Air Force, or Coast Guard, serving on active duty under a call or order that does not specify a period of 30 days or fewer or a dependent of a member of the Armed Forces on active duty.
  • for online application you need a valid Social Security Number or Individual Taxpayer Identification Number;
  • a checking or savings account that has been open for at least one month;
  • a valid phone number;
  • for in-store application you need a valid government issued photo ID;
  • proof of income and proof of a bank checking account.

These eligibility criteria aren’t hard – and in case you meet them you have great chances to get approved for an Installment Loan. We don’t guarantee anything, but we can assure you that if you fill out our online application form we’ll do our best to find the lender with most chances of getting you approved for the necessary amount.

Read more: Guaranteed Installment Loans from direct lenders

How Installment Loans from direct lenders work?

Before applying for an Installment Loan form a direct lender take into account the following points:

  • Don’t borrow more than you can repay on time.
  • Check the direct lender, read the reviews, compare the offers before signing an agreement.
  • Read the terms and conditions carefully before making any decision.
  • Check if there’re any hidden fees and fines.

As you’ve done some research on possible direct lenders, compared the offers and chosen the suitable one, go online and fill out a simple application form. It usually contains easy personal information, which will be safe and secure, and won’t be delivered to any third parties. You are not required to send any fax or email documents when you apply for an Installment Loan from direct lenders. The application process is completely paperless and is available 24/7.

As soon as you submit the application, it will be automatically processed by the lender. You are guaranteed an instant decision. If you are approved you may expect to get the funds within 1 – 2 business days. The money will be deposited directly into your banking account. Or if you prefer, drop to the nearest store at your location and get the loan in cash.

Direct lenders offering installment loans for bad credit

Any time you decide to apply for a loan you should take into account your credit score. In case of banks and credit unions it may be hard to get approved for any credit if your score is poor. But don’t get in despair. We know how to help you – more than 300 direct lenders we partner with approve borrowers even with bad credit score and provide them with $1000 - $5000 Installment Loans as well as higher amounts Personal Loans up to $35000.

Most online direct lenders focus on your ability to repay the loan rather than your credit score rating. And Installment Loans let you pay the money back over several months or even years in scheduled fixed payments which make this kind of cash advance really affordable and convenient.

If you can’t boast of a perfect credit history, take advantage of bad credit Installment Loans from direct lenders. If you’re not sure, try to prequalify online at first. To get approved it will be enough to have a steady income and a valid bank account.

Don’t be surprised, that direct lenders may charge higher rates for bad credit Installment Loans that traditional loans. This way they make up for the risk of lending money to bad credit borrowers. Moreover, if you pay it back on time, the total cost of the loan won’t be expensive.

Read more: Bad Credit Installment Loans.

No credit check Installment Loans approved by direct lenders

Another advantage of installment loans from direct lenders is that they don't do a hard credit check. It may not be that important for good credit borrowers, but those with a less perfect credit history would gladly avoid a hard inquiry. Most direct lenders don’t place any minimal credit score requirements, and are ready to risk and provide Installment Loans even to bad credit borrowers. Naturally, they make up for this risk by charging higher interest rates.

On the other hand, if you are sure that you can pay the loan back on time, it’s a good way to improve your credit.

Read more: No credit check Installment Loans.

No Teletrack Installment Loans from direct lenders

Alongside with credit check there are other ways to check the credit reputation and credit worthiness of a potential borrower. Nationwide Teletrack is used. Direct lenders subscribe to the Teletrack system provider which helps them to avoid dishonest customers. Teletrack lets the lenders estimate borrowers’ financial transactions, credit reputation, and profiles before approving them for a loan.

If you have a debt or loan delinquency these data are automatically registered in a unified Teletrack database. It can affect the lender’s decision of approving you or not.

Loans, processed via Teletrack, are beneficial for the borrowers as well as they help to make sure that a borrower deals with fully-licensed verified direct lenders.

In case you have not a perfect credit history or need cash really quick consider No Teletrack Installment Loans from direct lenders. There are still many direct lenders that do not use Teletrack to manage risks. Consequently, they charge higher interests for their services.

No Teletrack installment loans not only give you instant cash but they also provide you with a great opportunity to improve your loan history.

Easy approval Installment Loans from direct lenders

Though it’s hard to guarantee 100% approval for an Installment Loan form direct lenders, it’s definitely possible to promise an easy application, verification and approval processes.

  1. It’s very fast and easy to get your hands on the money when you take out an online installment loan. Applying online is free and secure, takes only a few minutes and doesn’t affect your credit score;
  2. The direct lender processes the information and provides you with an instant decision;
  3. In case of approval, the money is transferred into your banking account within 1 or 2 working days.

The best part of it all is that direct lenders don’t require any faxing, paperwork, hard credit check, which makes their Installment Loans really appealing and easy to get.

Not only Installment Loans are simple to qualify for but also to repay. Repayment represents a scheduled plan of fixed equal installments, usually monthly or as agreed with the lender.

Monthly Installment Loans from direct lenders

Monthly loans are those with regular scheduled repayments every month. If that’s what you’ve been looking for – Installment Loans are just for you. The name of cash advance itself says about repayment terms of fixed installments. In your plan you have a set date due to which each payment should be done. There are a lot of direct lenders that provide good interest rates and monthly repayments. Moreover, it is also possible to find lenders who can provide monthly Installment loans with instant approval.

Paying monthly is a good idea as you know when every paymnt is due. You can plan your budget and evaluate your opportunities.

Long term Installment Loans form direct lenders

The average Installment Loan repayment terms vary from 3 months to several years. Long terms Installment Loans are considered thhose which are paid back within at least a few years, up to 30 years in some cases. 

Direct lenders typically offer much lower interest rates on long-term Installment Loans than what you might get with a short-term business loan.

Instant Installment Loans from direct lenders online

Borrowing an Installment Loan from direct lenders online has plenty of benefits:

  • It’s quick – 1 or 2 working days.
  • It’s suitable for any personal needs, there’re no limits of the loan purpose.
  • Affordable repayment terms of 3 - 18 months.
  • Flexible repayment.
  • No hard credit checks.
  • Available for bad credit.
  • 24 / 7 service.

To find a reliable direct lender online follow the advice below:

  • Do a thorough search of lenders online.
  • Check all the details concerning the lender and loan.
  • Read the verified customer reviews.
  • Ask for experienced borrowers’ references.
  • Use comparing services.
  • Before applying find out if you prequalify for a loan, it will reduce the risk of being refused.

If you do as it’s recommended, borrow responsibly, you’ll be able to apply in minutes and get the money within a few days.

Read more: Installment Loans online.

Tribal Installment Loans from direct lenders

Tribal direct lenders are one more alternative to get an Installment Loan in the USA. It suits especially those who can’t get the necessary funds from traditional financial institutions, or have bad credit and look for no credit check loan.

The main difference of a tribal lender from a typical online direct lender is that tribal companies offer their services on sovereign land and are run by the Native American tribe. That’s why they don’t have to follow the state’s rules and regulations.

To qualify for an Installment Loan from tribal direct lenders you need:

  • ID or driver’s license;
  • Permanent employment;
  • Proof of monthly/yearly income;
  • An active checking account.

Choosing a tribal lender you face the following pros & cons:

Pros
  • Fast funding.
  • Availability for poor credit history borrowers.
  • 100% online process.
  • Convenient repayment terms.
Cons
  • You should carefully choose an online tribal lender as there’s a huge chance of coming across a scam. Check the SSL Certificate of the lender to make sure your information will be safe. Consider reviews from customers. 
  • Tribal direct lenders may offer quite expensive finance charges for their Installment Loans. For example, the APR for these loans varies from 200% to 400%.