Installment loans are a short-term solution to overcoming unexpected financial situations. Installment loans may not require good credit, and getting approved is quick and easy. If you want to apply for an installment loan, make sure you meet the installment loan requirements listed below. Cash Factory USA is happy to help if you have any questions along the way.
If you’ve already taken out an installment loan with Cash Factory USA before, you’ve already met the requirements and can save time with our reloan application.
Installment Loan Requirements
Before you apply for an installment loan, you should check to make sure you meet Cash Factory USA requirements.
- You must be a US citizen and be at least 18 years of age.
- You must be currently employed and have a verified income from a job or other source.
- You must have an open and active checking account from an active bank, credit union, or prepaid card account.
Once you’ve determined that you meet the above installment loan requirements, you can apply for a loan. Cash Factory USA has an easy to use application that only takes a few minutes and keeps all your information safe. When you apply for an installment loan, we will ask for the following information:
- Personal Information: name, date of birth, and social security number
- Employment Information: employer, income, payment frequency, and next pay dates
- Bank Account Information: routing number, account number, and bank
Because installment loans are regulated differently in each state, make sure you check to see the maximum loan amount in your state. It typically varies from $100 to $1000. If approved, your loan amount is based on your application details, including your current income.
Payday Loans at Cash Factory USA
These installment loan requirements may apply to our other products. Installment loans allow you to pay off your loan over multiple scheduled payments. If you are able to pay off the loan with your next paycheck, you may want to consider a payday loan. Cash Factory USA offers both types of loans and the application process is similar for both.
Get started with your installment loan application and you could have cash in hand as soon as the same business day. With installment loans, you can pay off your loan early and without any pre-payment penalty or fee. Cash Factory USA works closely with those who meet the installment loan requirements to find the loan that’s best for each situation.