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What is an installment loan?

An installment loan allows you to pay a loan over a longer period of time than a traditional payday loan. Installment loans at Cash Online USA allow you to repay the loan in scheduled payments that are substantially equal in amount (last payment may vary slightly). At Cash Online USA, an installment loan can be repaid early, which may save you interest and fees (where applicable).


General Requirements:

  •  You do not have to be employed but you must have a steady source of recurring income payments to ensure you will be able to repay your loan.
  •  You must reside in the state you choose for your loan application.
  •  You must be at least 18 years old.
  •  You must not currently be a debtor in a bankruptcy case or presently intend to voluntarily file for bankruptcy relief.
  •  You must not be a regular or reserve member of the Army, Navy, Marine Corps, Air Force, or Coast Guard, serving on active duty under a call or order that does not specify a period of 30 days or fewer or a dependent of a member of the Armed Forces on active duty.
  •  You must have a valid Social Security Number.
  •  You must have a checking or savings account that has been open for at least three months.
  •  You must be able to be contacted via phone if verification of application information is necessary.


When will the loan be due?

Installment loan payments will be due on consecutive pay periods. The number of payments and the term (length) of the loan will vary by pay frequency. You will be informed of the payment due dates and amounts if your loan is approved.


If I pay off my loan early, how does that affect my finance charge?

If you repay your loan in full at any time, you will only be responsible for accrued interest and fees on the outstanding principal through the date of repayment.


What if I change my mind and decide to cancel my loan?

Every loan comes with a 72-hour satisfaction guarantee. So if you change your mind about your loan, just return the principal within 72 hours and pay nothing more.


What do I need to apply for an installment loan? How do I apply for a loan?

To apply, all you need to do is fill out our simple application online. Cash Online USA paperless application process is convenient, secure and simple. Our simplified application process allows you to fill out and sign your loan documents on your computer without the need to fax unnecessary documentation.


Do I need to be employed? Can I be retired?

You do not need to be employed, but you need to have some sort of income. You may be self-employed or receive income from a source other than an employer, but we will require you to have the ability to repay the loan. You may be retired or on disability. The key is to have a source of income.


Do I need collateral to apply for a loan?

No collateral is necessary or accepted.


Is there any cost to apply for the loan?

No. You will not be charged to apply for a loan.


How will I know if I am approved? When will I receive my funds?

You will receive a decision immediately following completion of your application. If approved by 2:00 PM Central Time on Monday – Friday, you will generally receive the money the next business day. We also offer same day funding. For verification purposes, we may need to contact you by telephone before your loan is approved. Applications received on a weekend or holiday may be verified the next business day due to bank closures.