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 day or by the 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 of up to 10 months
- If approved, funds may be deposited as soon as the same day 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 | Up to 6 Months Depending on the Loan Product⁴ | 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. |
New Mexico Title Loans, Inc. provides title loans and installment loans up to $10,000 with funding the same day, if approved.5 No store visits are required for title loans, but for New Mexico residents only. |
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).
