How Do I Qualify for an Installment Loan?
Qualifying for an installment loan may provide a short-term solution to cover emergency expenses or budget shortfalls, depending on your credit score and overall financial situation. Unlike Speedy Cash payday loans, which are typically due to be paid in full on your next pay day, Speedy Cash installment loans typically offer a longer repayment period, and sometimes you may be able to qualify for a larger loan amount than a payday loan.
So how do you qualify for an installment loan? Great question. At minimum, you will need the following to qualify:
- Steady source of income
- valid checking account
- Working telephone number
- Valid ID showing you meet the minimum age requirements
If you choose to apply for an installment loan, then Speedy Cash will process your application with an internal scoring system that assigns a numerical value to the various items of information that we consider in installment loan applications. This system considers your monthly income, credit score, and the maximum amount available in your state. Based on the numerical value assigned to your application, we will provide you with an instant lending decision.