Yes, we do. E Loan Finance offers the following type of loans:

• Online installment loans
• Bad credit loans
• Same-day loans
• Quick cash loans
• Emergency loans

You apply for an installment loan and the lender offers you terms. Terms include how much you can borrow, how long you can borrow it for, and the interest rate you will pay. These terms vary depending on factors such as your credit history, income and current debt load as well as the type of loan you’re applying for.

Once you accept a loan, the money is transferred to you or used to make a purchase, such as with an auto loan. You then begin to pay the loan back as agreed. Installment loans may be broken into monthly, biweekly or weekly payments.

Typically, you’ll want to make sure that you have the following items handy when applying for an installment loan:

• Some form of government-issued ID
• Your most recent bank statement
• A personal check and/or debit card
• Verifiable income
• A checking account owned by the applicant
• Direct deposit

However, E Loan Finance doesn’t generally require this information for our online application process, but we may ask for further verification if we notice anything suspicious.

You can get an installment loan online via any number of lenders and banks. However, it’s important to ensure you’re applying for a loan with a responsible lender. Consider applying for a loan with E Loan Finance today.

There’s no rule about how many installment loans someone can have, though many lenders will only give you one loan at a time to minimize their own risks. Typically, how much you can borrow or how many loans you can have are determined by factors such as your credit history, income and current debt. Most lenders won’t loan you money you likely don’t have the income to pay back, so if you’re already carrying a lot of debt, you may be less likely to get a loan.

How you repay your installment loan depends on the terms of the loan. Common methods include making a payment from your bank account via an online portal, mailing in a check or having payments automatically deducted from your checking or savings account.

You can almost always pay an installment loan off early. In some cases, you may experience interest cost savings from doing so, though that depends on how the loan is structured.

Perhaps the most commonly-held type of installment loan is a car loan. While (with car loans) the money borrowed tends to go directly to the seller, it’s still a set amount borrowed all at once and payed back in (usually equal and monthly) installments.

Yes, it is possible to get an installment loan if you have bad or no credit. E Loan Finance doesn’t require good credit to approve someone for loan products, for example. Your credit score may impact what loans are available to you and how much interest you pay for those loans, depending on the lenders you work with.

If the lender reports to the credit bureaus, installment loans can impact your credit score positively or negatively depending on other factors. Primarily, the long-term impact comes from whether or not you pay your installment loan as agreed. Paying your bills on time is a positive for your credit score. Missing payments, paying late or defaulting on an installment loan are all major negative hits for your credit score.

Installment loans can help you rebuild your credit score if the lender reports to the credit bureaus and you make all payments on time. That creates some positive reporting for your credit, which can help boost your score. These types of loans can also improve your credit mix, especially if all you have otherwise is revolving credit accounts such as credit cards. A good credit mix can be a positive factor for your credit score.