How Installment Loans Work

Are you in need of a loan but worried about the repayment? Well, you don’t have to worry about that because we offer you signature installment loans. And we’ve also made it easy to understand how installment loans work here as well! We know how quickly you need your loan so you can handle your emergency expenses. We don’t want you to have to go through any complicated steps just to understand the terms of your loan.

We believe you should be able to understand the loan clearly and know just what you are getting into. This is why we’ve broken down installment loans so that you understand them clearly. So, if you want to learn about the installment loan process, keep reading this page.

What Is An Installment Loan?

Before you understand how installment loans work, you need to know the definition of installment loan. So, what is an installment loan exactly? An installment loan is a loan you can repay in installments – hence the name! This loan was designed to help you out with emergency expenses like late utility bills, rent, medical bills, or emergency home repairs.

But instead of having to pay back the loan in one lump sum, we break down the repayments in installments. This makes repaying the loan easier because you can work it into your budget. It also lessens the stress of adding another thing to repay. This loan was meant to help, not add any stress. This means we want repayment to be simple for you to get through.

How Do Installment Loans Work?

When you hear South Carolina installment loans, you might also hear people refer to them as signature installment loans. But why the different names? And what exactly does that mean when it comes to learning how installment loans work? Well, it’s called “signature” installment loans because your signature is your promise that you’ll repay the loan.

Don’t worry, it doesn’t affect your repayments at all and we still don’t ask for any personal property as collateral for this loan. All you have to do is sign some papers – if you are approved – and we will talk you through your repayment terms. Now, if you are ready to really learn about how installment loans work, here is a breakdown of our entire process so you don’t have to ask how does an installment loan work.

Step 1: Gather Your Required Items

The first step to learn how installment loans work is to get the required items ready. Once you have these items ready, you can put yourself in the right track to getting through the process with ease. The good thing is we only require you to bring in three things. Those items are:

• Driver's License or State Issued ID
• A Checking Account Statement That's Open in your Name
• Your Most Recent Pay Stub

You should also make sure to gather some good questions to ask us when you speak to us. It is important to get as much information as you can to make sure you are clear on everything. If you need any help, you can check out our installment loans FAQ page to get some question ideas.

Step 2: Fill Out The Online Form

Once you’ve gotten the required items ready, you can begin filling out the online form. This form allows the nearest store location to get your contact information so we can give you a call. Don’t worry, we keep your information completely safe. This is just so that we can help you get started. We recommend keeping your phone near because we will call within a few minutes of getting your form.

Step 3: Come To The Store For The Meeting

When we speak on the phone, you will find out more about how installment loans work and you can set up your meeting to come in. Make sure you bring in the required items when you come into the nearest store. And if you need help finding the nearest store, you can either ask us or check out the locations page to find all of our locations throughout South Carolina.

Step 4: Find Out If You Qualify For Approval

After we get a chance to assess your items and run your credit, we will let you know if you qualify for approval. If you do, we will go over the loan terms to make sure you really understand how installment loans work. This is your last chance to get your questions answered. We don’t want you leaving here still asking “how does an installment loan work?” so make sure you ask us any question you have! Once you are done with the paperwork, you can get your money either later that day or the next bank business day.

Remember That We Will Check Your Credit!

Now that we’ve answered the question “how does an installment loan work?” we need to tell you how credit plays into the process. In order for us to determine how much you could get, we have to have a full picture of your financial situation and how much you could repay. While we do look at your income and your checking account, we also have to look at your credit.

This means we will do a quick credit check before you can find out if you qualify for approval. While this doesn’t mean we will automatically disqualify you if you have poor credit, just know that we will check your credit – so you aren’t taken by surprise at all by how installment loans work. You might still qualify even if your credit isn’t perfect, but just keep the credit check in mind.

Get The Installment Loan You Need Right Now

Now that you know how installment loans work, there is nothing more getting in your way. Just fill out the online form now to get the South Carolina installment loans you need!