Qualifying for an Installment Loan - Good or Bad Credit Loans

In order to qualify for a loan from The Loan Factory you'll need:

• A source of income to support your current obligations, as well as the new loan you'll receive from The Loan Factory
• A personal phone
• A South Dakota identification card or driver's license (If you do not live in South Dakota click here)

Advantages of installment loans:

• You don't need a car title or checking account
• You can take up to a year to pay back your loan
• You don't need perfect credit

Why should you apply for an installment loan?

Start or Rebuild Your Credit
While a credit score doesn't define the person- life tends to be a bit easier with a better score.  For young people who don't have much in the means of credit, installment loans are a good place to start.  By making these regular payments, you'll build credit, enabling you to receive larger loans, a mortgage for example, later in life.

Just like someone trying to establish credit, those who need to rebuild damaged credit scores can do so through installment loans.  By making these regular payments, you'll be showing your good intentions, helping to rebuild faith in future lenders.

Get Rid of "Payday Loans"
For the most part, payday loans are a short-term solution.  You get the money you need. Then you scramble to repay that money within 14-30 days.  Installment loans, on the other hand, allow you to get back on your feet.  You can take up to a year to repay your loan, which will help keep your credit in good standing.  If you're just sneaking by on payday loans, let us see if we can consolidate them, giving you one small, easy-to-manage monthly payment.

Get your Loan Fast
Even if you have fantastic credit, receiving the money for a bank loan can be a tiring process.  We keep things simple at The Loan Factory and once we have your information, it takes as little as 15 minutes for the process to be complete.  No longer will you have to wait days for a banker or online credit company to get back to you. You know as soon as we know.

People apply for installment loans for a number of reasons. Sometimes it's to build or start credit, sometimes it's to consolidate payday loans and sometimes it's to get your cash in a timely manner. Whatever your reason may be, our employees will do everything in their power to make sure you qualify for a loan.

At The Loan Factory, we hire individuals who possess a strong financial background as well as a genuine desire to help others.  Unlike other lenders, we encourage you to come into our store and sit down with us face-to-face.  We know how important it is to look someone in the eye when discussing your finances.  We're here to help you.

If you're enduring financial difficulties, give us a call on a toll free number (855-228-5626) or stop in for a free consultation.