In life, there comes a time when you will need to access a fast and quick installment loan in the USA. So almost everybody in the USA and the entire world usually has that moment when they’ll need fast cash funding.
In most cases, especially during the pandemic, people struggle to make ends meet when there has been an economic crash. In addition, some even lack some basic needs like food.
However, the challenge begins where to get genuine lenders who can help you in that critical moment. And that’s whereby you may get yourself looking for an installment loan in the USA.
However, before you can take an installment loan in the USA, you need to know the following
- Ensure that you can repay the loan on the agreed time
- Take a loan that you can manage according to your needs
- Ensure you don’t enter into a debt trap
- Compare interest rates and go with the cheapest
- Choose a suitable payment plan that you can adhere to
How to get a fast and quick installment loan in the USA
Heart Paydays is an online lending platform in the USA. You can get a fast installment loan into your checking account in less than 30 minutes—hence the name quick loans.
The platform can give you loan limits ranging from $250 to $10,000. And that’s a reasonable limit that can help you accomplish some if not all of your financial goals.
You can repay the loan you take on the Quick loan platform either as a single repayment or by using monthly installments. In addition, if you want to repay in installments, you can spread it from one month to 3 years period for you to completely repay the loan.
The platform charges you no application or establishment fees while applying for an installment loan in the USA. Furthermore, the company doesn’t request you to get guarantors while applying for the loan.
2. Cash flex
Cash flex is yet another place you can get fast and quick loans in the USA. The platform will link you to potential lenders willing to give you fast and quick loans in the USA. The limits of the loans start at $100 up to $5000, and you can repay for a period of 3 to 36 months. In addition, you can get an APR of 49.9% on the loan that you apply for on the platform.
You will get a decision from the lender within 40 seconds, making it more suitable for solving emergency needs.
In addition, you will conduct every application online. So you don’t need to keep walking from one lender to the other looking for a fast cash loan.
3. Response Funding
This platform can help you get a fast and quick payday loan in the USA. The site will link you to lenders who will fulfill your need. To get a loan on this particular platform, you need to have a job and be a current resident of the USA.
You can get a loan with a 0.8 % monthly fee plus a fixed annual interest rate of 292% on the platform.
A bad credit score should not keep you off from applying because you have a chance to get a fast and quick loan on the platform. In addition, it’s easy to apply for a loan on Response Funding since you will do everything with a smartphone, tablet, or laptop.
You can repay loans on the platform in installments, either weekly or monthly.
4. Money boat
Money boat is a lending platform based in the USA. When you are a new applicant, you can borrow a loan ranging from $200 up to $800 and repay over a minimum of two installments. The maximum length you can repay the loan is up to 6 months.
However, MoneyBoat’s existing customers can get payday loans of up to $1500 after developing some good credit reports with them.
The platform charges a 0.7% interest rate per day, meaning the earlier you repaid the loan, the better.
5. QuidMarket loans
This platform is another place where you can get fast and quick payday loans in the USA. As a new applicant, once the QuidMarket check your loan affordability, you can get fast cash from $ 300 to $600.
Frequent borrowers will get up to $1500. Either a new or an existing customer, you can repay the loan from 3 to 6 months.
All you need is a permanent source of income to access a loan on the platform. In addition, you don’t need a guarantor or collateral while applying for a loan.
In FastLoanUSA, you can get a loan within 15 minutes, and you apply online, no need to walk around looking for a payday loan in the USA. The loan limit on the platform starts from $300 to $2000.
The APR for the loans in FastLoanUSA is 766.18%, and you can spread payments for 16 weeks(four months).
All loan costs are always transparent; hence you can trust the lender. In addition, having a bad credit history should not limit you because they will always have something for you.
Remember that late payments can cause additional charges to your loan, which will, in turn, cause you to stay in a debt cycle. Therefore, I would advise you only to take small amounts of loans that you can comfortably pay.
Do not take a loan because the lender offers you a bigger loan limit. For instance, you could be having a limit of $ 2000, but you only need $ 500. So kindly take that $500 to avoid misusing the money.
In addition, it will be a good idea to take loans for only emergency purposes. Then, you can consider creating more income streams to cover your other needs for anything else that you may need.