Installment Loan Lenders

Updated February 02, 2019

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2019 Installment Loan Lender Rankings

Installment loan lenders offer quick, simple loans that do not require good credit and can put up to $10K into your bank overnight. These loan are expensive only make sense for short-term, emergency funding. We only review direct lenders so you know your lender before you apply, their reputation (Sniff Test), and their history.

Company Name Description Costs* Sniff Rating
Ace Cash Express
Large online established lender. A+ BBB Score.
Multiple loan options. Physical store fronts too.
Governing Law: TX
APR: 398%
Amount: $200-$2K
Payments: 1-5
Freq: bi-weekly
Cost: $31 - $1K
Large, publicly traded online lender.
Use promo code: NEWCASH25 to save 25%
Governing Law: State Lic.
APR: 388.93%
Amount: $300-$2,000
Payments: 7-15
Freq: monthly
Cost: $492 - $7.9K
Net Credit
Rates based on amount and eligibility. All credit types.
Build credit with timely payments. $1k-$10K.
Governing Law: State Lic.
APR: 35% - 210%
Amount: $1k - $10K
Payments: 36 - 130
Freq: bi-weekly
Cost: $300 - $11K
Cash Central
Discounts for repeat customers. Live chat.
B BBB rating. All credit types.
Governing Law: State Lic.
APR: 150% - 240%
Amount: $1K-$5K
Payments: 39-52
Freq: bi-weekly
Cost: $3K - $11K
Competitive rates based on amount and eligibility.
Loans from $1K-$10K. All Credit Types.
Governing Law: State Lic.
APR: 59% - 199%
Amount: $1K-$10K
Payments: 9-36
Freq: bi-weekly
Cost: $4,742-$10,237
Military members not eligible.
Money back guarantee.
Governing Law: State Lic.
APR: 125% - 364%
Amount: $100 - $5K
Payments: 8 - 50
Freq: bi-weekly
Cost: $72 - $13.2k
Charges upfront admin fee.
Reports to credit bureaus.
Governing Law: State Lic.
APR: varies
Amount: varies
Payments: varies
Freq: monthly
Cost: varies by state
New lender with experienced team.
Loans up to $2,600. All credit types.
Governing Law: State Lic.
APR: 165%-349%
Amount: $500-$3K
Payments: 16-60
Freq: bi-weekly
Cost: $736-$8,684
Check 'n Go
State licensed lender.
A+ BBB rating. Has physical storefronts.
Governing Law: State Lic.
Speedy Cash
State licensed lender. Pricing shown is based on TX rates.
Pricing appears high. They have store fronts
Governing Law: State Lic.
APR: 610%
Amount: $750
Payments: 12
Freq: bi-weekly
Cost: $1,539
Cash Store
State Lic lender only. Pricing shown is based on TX rates.
Must go to store to complete application.
Governing Law: State Lic.
APR: 583%
Amount: $1,000
Payments: 12
Freq: bi-weekly
Cost: $1,946
Blue Trust Loans
Offers loans up to $2,000 in 39 states.
All credit types. Minimum Income Required: $850/mth.
Governing Law: Tribal
APR: 782%
Amount: $1K
Payments: 1
Freq: bi-weekly
Cost: $290.50
Offers loans up to $2,000. F BBB rating.
All credit types. Minimum Income Required: $850/mth.
Governing Law: Tribal
APR: 782%
Amount: $1000
Payments: 1
Freq: 14
Cost: $290.50
Cash Advance Now
Tribal lender. Upfront disclosures and pricing.
Purchased name and domain in Sept 2012.
Governing Law: Tribe
APR: 695%
Amount: $300
Payments: 34
Freq: bi-weekly
Cost: $1,842
Just Military Loans
Specialize in Military Loans. Pricing not listed.
15 day cancellation policy. Full refund of fees.
Governing Law: Delaware
APR: 0.00
Amount: 0.00
Payments: 0.0
Freq: 0.0
Cost: 0.00
Tribal Lender. Line of credit product
Rates similar to payday loans
Governing Law: Tribe
APR: 279%
Amount: $500
Payments: 20
Freq: 14
Cost: $730
American Web Loan
Tribal Lender based in Oklahoma.
Very little information provided on their site
Governing Law: Tribal
APR: ?
Amount: ?
Payments: ?
Freq: ?
Cost: ?

* Costs vary by state. Cost shown are based on pricing for Delaware residents when available. Check each lender's website for updated information. Some lenders will not provide pricing data until an application is completed.

Who Are Installment Loan Lenders

Installment loan lenders offer quick, simple, unsecured loans that do not require good credit. The fees for these loans are often very high. The advantage of these loans is lenders are willing to make loans to individuals with poor credit.

Installment loan lenders make actual loans. They differ from other companies who provide matching services. These companies actually underwrite and lend money. Sites that provide matching services pass your information on to direct lenders who then make loans. One can distinguish direct lenders from matching services by looking at the fine print of most websites. Matching services will say something like, "the operator of this website is NOT A LENDER." Direct lenders will not include this disclaimer.

These loans are also referred to as online installment loan direct lenders, direct installment loan lenders, and direct lenders for installment loans.

Direct Lenders Versus Matching Service

The advantage of a matching service is that only one application is required to apply to multiple lenders. This can save time but the downside is you are unable to pick the lenders to whom you are applying. This often means the lenders with whom you are matched include unlicensed lenders as well as licensed lenders. The Payday Hound generally sees nothing wrong with a matching service as it can be more convenient but we do strongly prefer licensed lenders to unlicensed lenders. This means if you use a matching service, once you are offered a loan, make sure to evaluate your lender to decide if they are licensed or not. For more information see Direct Lenders or Matching Services

Licensed Versus Unlicensed Installment Lenders

Installment loan lenders can be regulated by both federal and state laws. Federal regulations are generally less stringent and less enforced than state regulations. Lenders licensed in your state are regulated and monitored by your state so are more closely regulated. To become state licensed lenders generally must apply, register, and remain compliant in every state in which they are licensed. Each state has a separate process so the licensing process can be expensive and time consuming. As a result state licensed installment loan lenders are generally not fly-by-night entities. Instead, they are usually larger more permanent companies.

Unlicensed installment loan lenders operate in states under the assumption they can export laws from their state or tribe into other states. Tribes refers to formally recognized American Indian Tribes that are generally treated as separate federal entities and operate under their own laws. Tribal lenders were becoming very common with tribes partnering with financing partners. The tribes contribute their legal status and the financing partner provide the capital and operations. Recently, the position that tribes or states could export their laws into other states has been challenged. The result has been a slow down in the growth of tribal based installment loan lenders. The Payday Hound believes this change is good for the industry as we believe licensed lenders are a safer choice for borrowers. For more information see Payday Loan Laws

What Are Installment Loans

These are loans that paid back over multiple periods with a set payment amount. Lenders calculate the payment amount based on the interest rate, payment periods, and loan amount. The borrower then makes this set payment at every period. Each payment consists of interest and principal. Once the borrower has completed all payments the entire loan is paid off.

Lenders generally make two types of installment loans: secured and unsecured. Secured loans have collateral which can be seized if loans go unpaid. Secured loans are generally cheaper than unsecured loans. Unsecured loans are loans that have no collateral. Installment loan lenders offer unsecured loans based on your pay date and the amount of your pay check. Credit history is generally not an issue meaning if an individual has bad credit they can still qualify for a loan from these lenders. In order to get a loan based on your paycheck most installment loan lenders require access to the account where you receive your paycheck so they can deduct your loan payments as soon as you are paid.

Installment loan lenders have made these loans very attractive. They are quick, simple, do not require good credit, and have lower payments than traditional payday loans. Yet, users must approach these loans with caution as the fees make them an expensive option when compared to bank loans, credit cards, or friends and family. Borrowers can often find better rates from other lenders if those option exists. Installment loans are designed for short-term, emergency funding and are best used for this purpose.

To learn more about installment loans visit Installment Loans.

Find Loan Lenders by State

Installment loan lenders are state regulated so not all lenders make loans in all states. Select your state below to find lenders available in your state.