Installment Loans: The Best Option for Fast Cash

With so many people living paycheck to paycheck, it’s not uncommon for someone to suddenly need access to money they don’t have. Maxlend Loans offers installment loans to people who need fast cash. There are many benefits to choosing an installment loan over other loan options.

Poor Credit? No Problem!

Making one late payment can really hurt a person’s credit score. While poor credit may reduce their chances of buying a car or getting a mortgage, they may still be eligible for an installment loan. Unlike other types of loans, installment loans only require borrowers to have a current job, regular paycheck and checking account.

Simple Application

People can apply for an installment loan from the comfort of their own home. There’s no need to visit a bank or fill out a booklet of forms. In fact, the entire application process takes only a few minutes. Once their application has been submitted, they can expect a reply in less than a day.

Quick Money

Once an applicant has been approved for their loan, the money is wired into the checking account listed on their application. They should expect to see that money in their account in about one business day. Loans offered by banks usually take much longer to get funds deposited.

Use for Anything

Installment loan lenders don’t care why a person needs cash, they just want to make sure the borrower gets it quickly. Many borrowers use the money for sudden emergencies, such as medical bills or car repairs. However, others may choose to use the cash to take a vacation with their family. There are no limitations.

Convenient Payments

Installment loans are paid off over a set time frame. The borrower pays back equal installments over the course of the loan. Interest is collected by the lender on each payment. Most installment loans are paid off in about six months, although the terms are different for each loan.

Installment loans make it easy for people to get the cash they need for life events or other unexpected expenses. The flexibility of a longer repayment plan is the main reason so many people are now choosing installment loans over the once popular payday loans.