Spotloan can deliver short-term installment loans up to $800 for first-time borrowers and is an excellent alternative to payday loans when cash is needed quickly to deal with a financial emergency, or just to make it to your next paycheck.¹ With Spotloans, loans are tailored to fit your budget and situation, paid back over terms as long as 10 months instead of one lump-sum payment. Applying is super-easy, all online, taking only a few minutes and borrowers may be funded as soon as the same or next business day, if approved.⁵
Pros and Cons of Spotloan for Installment Loans
Spotloan can be an alternative option to payday loans for those needing quick and flexible financial solutions through installment loans.⁵
- Spotloan fully considers applicants with bad credit for installment loans
- Prequalifying does not impact credit
- Pay back loan in terms up to 10 months
- If approved, funds may be deposited as soon as the same or by the next business day⁵
- Interest rates may run as high as 490%
- Not available nationwide
- Borrowers are required to have active checking accounts
- Although loan terms may be longer, it may potentially incur more interest being paid
How Spotloan for Installment Loans Compares
to Other Options
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| Max Cash's Rating | |||
| Repayment Terms | Up to 10 Months | Typically 24-48 months | N/A |
| Funding Timeline | Receive funds on the same day or by the next business day | Receive funds on the same day or by the next business day | Receive funds on the same day or by the next business day |
| Bottom Line | Spotloan can deliver installment loans up to $800 for consumers needing emergency funding but without payday loan inconvenience.¹ Apply online and potentially be approved in minutes, but in select states only. |
LoanCenter can help borrowers online or in-store to receive up to $50,000 based on the equity in their vehicle.¹ With a quick approval process, funds may be received as soon as the next business day.⁵ |
An alternative to payday loans, Credit Fair-E is a direct online lender offering affordable and transparent installment loans with fast approval and funding as soon as the next day.⁵ Borrowers’ credit history can also be improved by their reporting payments to TransUnion. |
Frequently Asked Questions about
Spotloan for Installment Loans
Call (888) 681-6811 to speak to a knowledgeable and friendly Spotloan agent.
Spotloan is currently not accredited by the Better Business Bureau (BBB).
