Direct Lender Installment Loans

Convenient Repayment for Any Credit

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online installment loans from direct lender

ASAP Finance's goal is to make getting a loan simple and fast. We’re here to help people who suddenly need money to cover medical bills, home repairs, or other daily costs.

We find quick financing for your emergency and offer direct lender installment loans online tailored to your specific requirements. Apply now, even with a bad credit score, and enjoy same-day funding*.

Direct Lender Installment Loans - Overview

Direct lender installment loans mean borrowers don’t have to deal with third parties and additional fees. Applicants request loans straight from the source. Once approved, the lender forwards the money to the borrower's account.

Unlike payday loans, online installment loans from a direct lender offer more flexibility. You can borrow from $500 up to $5,000 or more and pay it back with interest (16% - 100% APR) over terms that vary between 2 and 24 months.

How Installment Loans Work Online & In-store?

Installment loans work the same whether you get them online or in person. The working process is as follows:

Application. You apply, giving the lender personal details, proof of income, and, depending on the loan type and lender, collateral. You can do this on the company's website or at their physical location.

Qualification. After you submit the form, the lender decides if you qualify by looking at your credit history, income, and debt-income ratio.

Agreement. If you get approved, you will receive an offer with the loan details—the amount, interest rate, when you pay it back, and any fees.

Funding. Once you agree to the terms, you get the money—either deposited in your bank account for an online loan or as cash/check if you do it in person.

Repayment. You repay the loan in regular installments over a set time. Each payment covers part of the loan amount plus interest and fees.

borrow installment loans from direct lenders

Am I Eligible for Installment Loans?

You usually need to meet some criteria to get an installment loan. These commonly include:

  • Being 18 or older. Some places require you to be 21+ or want adults who can enter contracts.
  • A steady income, such as a job, rental property, investments, etc., shows you can make monthly payments.
  • You need to provide bank statements or pay stubs to confirm your income.
  • A low debt-to-income ratio means total debt payments are no more than 43% of gross monthly income. Less debt means more spare cash to repay loans.
  • Being a US resident or citizen. You must live in the United States legally.

What Can I Spend My Installment Loan On?

An installment loan can be used for various reasons, depending on what you need and what the lender allows. For example, people might use these loans to combine multiple high-interest debts into one manageable payment or make home improvements. When unexpected expenses like medical bills, car repairs, or other unexpected costs pop up, installment loans can help bridge the gap.

Benefits of Getting an Installment Loan with ASAP Finance

Getting a loan from ASAP Finance has some excellent benefits, making it a good choice if you need money quickly and easily:

  • Quick Loan Application. Applying is quick. We try to keep the paperwork and hassle low so you can get the cash you need without a wait.
  • Flexible Installments. You also get flexibility in paying the loan back, customizing the amount and timing to fit your situation rather than some rigid payment schedule.
  • Convenient Funding. Once approved, lenders fund the loan fast, meaning the money comes through when you need it.
  • Money for Any Purpose. You can spend the loan on unexpected costs or purchases you had planned.
  • Good Credit Not Required. Unlike lenders who want you to have good credit, ASAP Finance also looks at other factors. Even if your credit could be better, you might qualify.
  • Friendly Customer Support. If you need more information about personal installment loans, you can speak with our customer support, who can help you find suitable answers to your questions 24/7.

How to Be Responsible When Borrowing Installment Loans

Borrowing money responsibly is essential for keeping your finances stable and avoiding too much debt. We have some tips that could help with being liable if you need to take out an installment loan:

  1. Assess your situation. Before getting a loan, take a good look at where you're at financially to see if you truly need it and can pay it back suitably over time.
  2. Review the terms. Go over all the fine print so you totally understand interest rates, when payments are due, any fees you might be charged, penalties for paying late or early, and everything they will or could charge you.
  3. Borrow only what you need. Getting too much can mean higher interest costs and put you under more financial pressure.
  4. Shop around. Compare different lenders and their rates and terms, too. Find someone trustworthy with clear policies.
  5. Be realistic. Think about how much you can pay back every month without straining your budget. Make sure the monthly payment is manageable along with your other expenses.
  6. Save for emergencies. If you can, start putting some cash aside for a rainy day. If something comes up, it gives you a cushion, so you don't have to borrow as much.



What is an installment loan?

Installment loans are flexible financial products that are repaid in affordable monthly payments within up to 24 months. They have higher loan amounts and lower interest rates compared to payday loans but are still available with bad credit.


When and how is my installment loan deposited?

The lender will transfer the loan to your bank account within one business day. However, same-day funding is also available if you apply in the morning.


Is ASAP Finance an installment loan direct lender?

No. We connect you with direct lenders that provide long-term installment loans, but we don’t interfere with the borrowing process or charge any application fees.


How much can I borrow with an online installment loan?

The maximum loan amount is $5,000, depending on the lender, your credit history, and income.


What happens if I can’t repay installment loans online on time?

You will be charged with late fees that just pile up. Your credit score will also be affected. If you face a problem with repaying a loan, reach out to your lender and ask for a repayment plan. This will help you avoid dealing with collection agencies.

*Note: To receive same-day funding, you must apply before 10 AM on the business day.

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Written by Gregory Allen

Published on March 26, 2024