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If you find yourself short on cash while facing a financial emergency, one of the best options that can come through for you is installment loans. This type of loan comes with the most convenient and especially advantageous terms since it allows you to repay it over a certain period, usually between two weeks and 72 months.
For many reasons, online loan lending services are a better option than banks, and one of them is the speedy and reliable funds transfer. So, if you cannot wait for your next paycheck, applying for a loan from an online lender is the best option.
We have found the best five companies where you can apply for a loan instantly and receive various offers so you can choose one that you will find most suitable for your financial condition. Thus, let’s discover more about how we choose the best platforms and their features!
Best Loan Companies For Installment Loans 2022
- MoneyMutual– Overall best online installment loans instant approval, Editor’s pick
- BadCreditLoans– Direct lenders offering online installment loans for bad credit
- RadCred– Get unsecured installment loans with no credit check
- CashUSA– Popular instant funding installment loans with fast cash
- PersonalLoans– Trusted personal installment loans platform with easy loan approval
#1. MoneyMutual– Overall best online installment loans instant approval, Editor’s pick
MoneyMutual is a leading loan lending marketplace based in Las Vegas with the main purpose of helping individuals get fast access to funds with the most advantageous terms. Their loan selection is designed for various expenses, from covering bills to purchasing large assets and financing big ventures.
The business has had an impressive reputation in the loan lending market for over a decade, and millions of satisfied customers successfully escaped financial trouble. MoneyMutual acts as a mediation, offering a safe and trustworthy environment for potential borrowers to find suitable loan offers from professional and legal lenders.
MoneyMutual is mainly a short-term loan lending platform where you can access installment types of loans with a repayment period between two and four weeks. These loans are excellent for settling unforeseen expenses and having immediate cash until your next paycheck.
The company enjoys an impressive reputation by the BBB (Better Business Bureau) and has earned an A+ score for its efficient way of work, considered one of the best places to go for installment and personal loans.
Legal and certified network of lenders
The main aspect of the business’s impeccable reputation is largely due to its collaboration with certified lenders across the country. The organization mostly focuses on supporting clients with bad credit to find solutions for their debts and resolve their bad financial decisions.
Besides providing all kinds of personal loans, the lenders also offer services for debt consolidation, credit building and retirement, secured loans, and co-signer options for applications with below-average credit scores.
Straightforward and comprehensive loan lending process
Every aspect of the loan lending process is detailed and explained so every client, even those that haven’t used these services before, can easily find their way around. The application is simple and fast, demanding only the applicants’ personal information, including their employment and monthly income.
In some cases, the lenders will ask for additional documents if the applicants have some more specific loan requirements.
To make it even easier for you, the company has a special section dedicated to the basics of how their loans work, where you can find answers to all questions in which you might be interested.
Additionally, their customer specialists offer help via email and phone and will gladly assist you on your way.
Transparent loan information
Being the leader in the money lending industry is largely due to its transparent and especially approachable working system. Before agreeing on any loan, you will be presented with detailed information about the entire loan cost and all the important terms and conditions.
You can also compare the loan offers of various lenders to find the one that suits you the meat. Most importantly, the lenders are highly flexible and open to negotiation, so you can choose to alternate the terms to be more convenient for you.
Fast and reliable funds transfer
After reaching an agreement with the lender, they will immediately proceed to transfer the funds to your checking account. This happens via secured and encrypted protocol, so no one other than the lender can access your personal information and bank transactions.
For loan amounts up to $5,000, you will be able to get access in just a few hours. The platform doesn’t charge any fees before accepting any loan offer, and you can cancel the application at any time if the offer doesn’t satisfy your needs.
=> Click here to visit the official website of MoneyMutual
- The service is free to use
- Fast and simple application
- Easy to navigate website
- Fast funds transfer in just 24 hours
- Almost immediate application approval
- Ideal for those that look for small loan amounts
- Flexible repayment terms
- Low-interest rates
- No hidden costs and scam
- Good rating by the BBB
- Attentive customer service
- No larger loan amounts than $5,000
#2. BadCreditLoans– Direct lenders offering online installment loans for bad credit
BadCreditLoans is a loan business platform offering various services related to bad credit, including debt settlement and consolidation, paying taxes, credit restoration, covering emergency expenses, and much more.
This company gives a chance to all individuals to get a short-term installment loan even if their credit score is low. With their specialized program requirement for making on-time repayments, you can improve and rebuild your payment history and regain your financial stability.
Since 1998, BadCreditLoans has been a safe and trustworthy place that combines traditional and peer-to-peer lenders to help individuals quickly access their desired money. Since the platform isn’t an actual lender, applications will be able to receive multiple offers so that they can find the one with the most favorable terms.
Most notably, the company welcomes clients who have faced bankruptcy, repossession, and judgment in the past, allowing them to stand on strong feet.
BadCreditLoans is accessible anytime via desktop and app, and you can apply for a loan without having to pay anything. Also, you can feel free to cancel that application at any time.
Find your ideal rate almost immediately
BadCreditLoans is one of the easiest platforms to use, taking only a couple of minutes to fill out the application form. Since the site has a matching logarithm, your information will be sent to various lenders that will match your preferences.
You can choose the loan amount and the repayment term that suits you the best; also, you have the opportunity to compare the loan offers and select one of them. The best thing is that the lenders don’t check your credit score, which means it won’t impact your credit score.
Basic eligibility requirements
The eligibility criteria at BadCreditLoans has only a few non-negotiable requirements. You must be of legal age and a U.S. citizen, and if you want to qualify for a larger loan amount, you will need to have a regular source of income and stable employment.
There are some exceptions as the lenders will also consider if you have an income from other sources like retirement, rent, disability, etc. Generally, the lenders are considerate and willing to cooperate with all clients to resolve their financial problems as efficiently as possible.
Excellent loan rates and additional advantages
BadCreditLoans offers the most advantageous rates for their installment personal loans ranging between 5.99% to 35.99%. You can expect to pay less than the other loan lending platforms.
You can manage your brown repayment and schedule them to boost your credit score so that you can apply for better deals in the future. The brand also provides extensive credit-related services like business loans, mortgages, auto loans, student loans, and home loans.
User safety on another level
BadCreditLoans holds the highest position in the domain for having the strictest and most secure privacy protection technology offering their clients safe and reliable service. The platform works with attested and certified lenders offering discreet communication through the encrypted protocol.
Also, they have implemented a scam alert to help prevent fraud and keep the data safe from being leaked to a third party.
=> Click here to visit the official website of BadCreditLoan
- Reputable loan lending marketplace with a large network of lenders
- Fast loan approval and money transfer
- The best rates and terms in the industry
- Basic eligibility criteria
- Free and comprehensive platform
- Loans amount up to $10,000
- Repayment terms from three to 36 months
- Bad credit score applicants accepted
- Loans are available at any time
- Required steady monthly income of at least $800
#3. RadCred– Get unsecured installment loans with no credit check
RadCred is the handiest network of lenders to save you from all the hassle of going through different creditors and banks looking for a loan. The company offers various competitive rates with conditional and unconditional repayment systems.
The available amount of money you can borrow will be determined by the lenders after you apply with all the necessary information. The largest loan amount you can acquire is up to $35,000 or even more if your credit score is satisfactory enough.
At RadCred, you can receive the finest deals on installment and personal loans with the opportunity to extend the repayment terms from 90 days up to 72 months.
Additionally, you can choose from several loan types besides installment, including personal bank loans, peer-to-peer loans, auto loans, payday loans, and student loans.
Being an OLA member, the company has set specific rules, so the lenders must comply, ensuring a trustworthy and reliable loan lending environment for both lenders and borrowers.
Fast and easy access to the desired funds
The most favorable aspect of RadCred’s way of work is its incredibly swift loan lending process. The application form can be completed online, so you don’t have to wait for weeks, as with traditional lenders.
Every aspect of the loan lending process is designed to end your financial problems as quickly as possible. At RadCred, you will be able to get a same-day approval and access your funds within the same day of the application.
Concise and straightforward platform
The eligibility conditions are almost the same as with the other loan lending companies; most notably, you don’t necessarily need an excellent credit score to qualify for a loan. There are no upfront charges for the loan application; even if your request is turned down, it won’t affect your credit score.
The lenders have a transparent and open way of work, so you can see the loan terms, including the entire loan cost, before you and the lender make a deal.
Suppose it happens that you are not able to find a suitable loan offer. In that case, the company will make another connection for you with a more suitable financial service by contacting their closest partner to assist you in resolving your problem.
Loan types for all applicants
The accommodating features of RadCred are astonishing. The platform offers freedom in terms of the loan term length, which is especially advantageous if you want to take much larger loans offering you the opportunity to regain your financial stability and improve your credit score.
Since bad credit applicants find it the most challenging to get qualified for a loan, at RadCred, you won’t face this kind of problem. However, if you are willing to compromise with higher interest rates, taking out an installment loan from a RadCred lender will be a good option.
Privacy and security protection
When you trust RadCred, you can rest assured that your private information will be kept with utmost care. The platform uses one of the most trustworthy and reliable protection systems scanning the platforms daily for potential threats or third parties.
Additionally, the customer service is highly approachable and friendly, and you can contact them for whatever issue you might face using their service.
⇒ Visit the Official Website of RadCred
- Generous loan amounts of up to $35,000
- Helpful tools for improving credit score
- Educational resources on the loan application
- The fast and easy application process
- Swift loan transfer
- Trustworthy and secured platform
- Competitive loan rates
- Customer service is available via phone and email
- Clients with poor credit scores have limited access to loan options
#4. CashUSA– Popular instant funding installment loans with fast cash
CashUSA provides the most convenient and swiftly working loan lending services in the U.S., where you can look for various types of financial assistance like debt consolidation, cash advances, and personal loans for making necessary purchases and covering essential expenses.
The company was established in 2015, and since then, it has been one of the most trusted online companies for all individuals, regardless of their credit score. This means that if your credit score is as low as 300, you still might be able to qualify for a loan as long as you satisfy the other eligibility requirements.
The main attributes of CashUSA are their incomparable accountability and convenience in terms of speed. It is hassle-free and straightforward, so you can make an application whenever you need it without paying anything upfront.
To offer their clients the best possible alternatives in case they don’t find a suitable loan offer, the platform has teamed up with numerous certified creditors specializing in various financial services like depth settlement, secured loans, credit score repayment, etc.
Here you can acquire loans of up to $10,000 without stating why you need them. Also, their loans in installments have repayment terms from 90 days up to 72 months.
Attested and fully confidential platform
With CashUSA, you will be presented with every lender’s way of work, and you can consult with them about the entire loan process and all the related costs. You will be able to contact them via the application or phone so that they will give you more details on the terms and conditions.
This is an admirable aspect since applications will be able to make a more educated decision and approach with more trust. Once you and the lender reach a mutual agreement, you will be transferred to their site, where you must provide your e-signature so the lender will proceed with transferring the loan amount onto your checking account.
Industry-standard interest rates
CashUSA collaborates with over 60 lenders, and everyone has their terms and conditions. Generally, all the lenders follow the rule incorporated by the loan industry that demands the interest rates to be between 5.99% to 35.99%.
The service is free of cost, and no prepayments are required before you agree to any loan offers. On the other hand, the loan APR is determined by every lender.
Attentive customer support team
If you face any inconvenience throughout the loan process, you can reach out to their customer care team, who will give you assistance-related queries.
Additionally, you can access their FAQs section, where they have highlighted some of the problems clients usually face and how to resolve them.
You can either contact them via email or phone. CashUSA is also available on social media, so you can find them on Twitter and Facebook.
Superior safeguard system
CashUSA is one of the most well-known platforms in terms of security and confidentiality. The platform has thousands of satisfied customers who have successfully resolved their financial issues and look forward to collaborating with their service again.
⇒ Visit the Official Website of CashUSA
- Loan lending services operating in all 50 states
- Reputable and confidential business
- Legitimate lenders specializing in various loan services
- Bad credit and low-income loans are available
- Fast application process and funding
- Informative website with educational resources
- Superior data security protection
- The customer team is available via phone, email, and social media
- Only small loan amounts
- Requires more information throughout the loan process
#5. PersonalLoans– Trusted personal installment loans platform with easy loan approval
While getting a personal loan from traditional lending platforms can be challenging and even impossible, PersonalLoans provides an opportunity to make this happen even if your credit score is below average.
This is one of the leading loan lending companies that work with the most reputable lenders across the U.S. to assist individuals in resolving their financial issues by offering various loans, including auto loans, installment types of loans, and mortgage loans.
The company enjoys an excellent reputation thanks to its incredibly functional way of work, offering an easy and manageable application process.
Additionally, their website boasts an extensive collection of educational articles on credit scores and how to manage your finances more responsibly.
As a respectable member of the OLA alliance, the company is highly committed to building a safe borrowing environment. As a result, they have implemented strict regulations so that the client’s rights will be protected throughout their mutual collaboration.
The site’s professionalism is on another level, so, even if you fail to find a suitable loan offer, you can still take advantage of the other financial services and resources to resolve your situation.
=> Click here to visit the official website of Personal Loans
- No up-front fees, and the service is free of cost
- Large network of lenders for any kind of financial necessity
- Bad credit loans are available
- Working in all 50 states
- Safe and trustworthy loan lending platform
- Additional services for bad credit
- Fast funds transfer
- Respectable OLA member
- The largest loan amount available is $10,000
How We Made the List For The Best Installment Loans And Personal Loans?
Respectable companies with good ethic
The most crucial factor of our research across the money lending domain was finding the most reputable companies with good working ethics.
We immediately noticed which is legitimate and which is not based on the overall transparency of how they operate, the number of clients, and their satisfaction with using their services.
We looked for various articles on the companies and whether they had any bad cases in the past. Nowadays, it is prevalent for individuals looking for a loan to be victims of fraud and unable to do anything about it.
Loan terms and interest rates
When evaluating the loan lending services, we mostly paid attention to the business’s loan terms. Some providers charged interest rates based on the loan amount, while others were based on the credit score. Generally, we looked for the business that followed the industry standard percentage, which is non-changeable.
We understand that our readers are looking for a dependable company they can collaborate with in the long term since the installment loan type has the longest repayment period.
This is why we only considered the companies that have set conditions with charges that won’t rise throughout any fluctuations in the market.
Efficiency and speediness
Fast funding is something that every client looks forward to when a financial necessity arises. All the five loan lending companies we have reviewed excel in efficiency, offering fast funding that doesn’t take more than one business day.
Any of these platforms you choose to collaborate with, you can rest assured that you will find an available loan offer any time you need, even on weekends.
Also, we have checked their customer service responsiveness so that the customers will be appropriately attended to throughout the loan process if any inconvenience arises. Most importantly, the customer care team takes responsibility for the client’s safety and privacy.
Installment Loans With Instant Cash Advance -FAQs
Q1. How do installment types of loans function?
Loans labeled as installment type are a type of financial assisting tool with fixed interest rates that’d need to be repaid within a certain period.
They can be either secured by collateral or unsecured. They are the most advantageous form of loan mainly because they can be divided into multiple installments, so the borrowers will repay them easily. This loan type is also commonly used instead of credit cards.
Installment loans are mostly used for emergencies since they only demand basic eligibility requirements and usually are approved, wishing just a couple of hours.
Q2. What are the most commonly borrowed types of installment loans?
This is the most commonly used installment loan type because it can be used for various expenses like home renovations, debt consolidation, paying medical bills, rent, financing vacation, etc.
Personal loans usually come without restrictions when it comes to the way they can be used. However, some lenders put restrictions so they cannot be used for funding business ventures or investments.
Auto loans are specified types of loans for financing vehicles. They are secured, with the purchased vehicle being the collateral for the loan. The repayment period for this type of loan can be extended between 12 to 96 months and usually have favorable interest rates.
University Education’s expenses continue to rise, increasing the popularity of student loans. This type of loan is modified with low-interest rates and generous repayment terms to help the students stand on their feet financially to repay the loan.
Mortgages are specialized loan types for purchasing homes and property. They have fixed or variable interest rates and come with the longest repayment term of ten to 30 years.
Q3. How much do I have to pay on interest rates for an installment loan?
Every lender determines the loan interest rates individually based on the borrower’s current financial stance, including their credit score, the loan amount they want to take, and the repayment period. Usually, the interest rates start at 3.99% and can go up to 35.99%.
Most of the time, borrowers are charged with the lowest interest rate if they have a good credit score, and they get the ability to choose the shortest repayment period.
According to the statistics, the average APR for a 24-month installment loan is 9.39%. This is a fairly advantageous option since it is below the average credit card APR.
Conclusion: Apply for installment loans online now!
Every individual finds themselves in an undesirable financial stance at least once in their lifetime. Luckily there are specialized companies for financial emergencies where you can turn to whenever you get rejected by a bank or a traditional creditor.
These loan companies don’t exist to take advantage of the application’s bad financial position; on the contrary, they even give them the benefit of improving their bad credit and acquiring better rates in the future.
Whenever you need fast cash, you can rest assured that you will find the right assistance at any platform offering installment loans mentioned above. Even if the approval isn’t always certain, you can still try since they are free and don’t negatively impact your credit portfolio.