Need a short-term loan? This lender has multiple positive reviews and plenty of options.
Advance America is a fully accredited, nationally recognized financial organization that provides an array of financial services and products from over 2,100 locations in the US. You can apply at a storefront and online for either a payday, installment or auto title loan.
States where Advance America does not offer loans:
- District of Columbia
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- South Dakota
- West Virginia
If you live in one of these states visit our short-term loans guide to see what loans are available in your state.
What types of loans does Advance America offer?
- Payday Loans. Advance America offers payday loans online and in-store. The amount you can borrow depends on your state of residence and your current financial situation. Advance America also has convenient charts that allow you to determine the finance charge, APR and total cost of the loan before you apply.
- Installment Loans. Installment loans work much like payday loans, but instead of repaying the principle and interest in one lump sum, you can spread the payments out over months, and you can usually apply for larger amounts. Advance America doesn’t offer installment loans in every state.
- Auto Title Loans. If you own a car, you can use its title to get a loan through Advance America. The amount you can borrow depends on your car’s appraised value. Because this is a secured loan, you can expect lower interest rates than with payday or installment loans. However, keep in mind that if you default, you risk losing your vehicle.
In addition to these, Advance America also offers lines of credit, MoneyGram and prepaid debit cards.
What do borrowers like about Advance America?
- Easy application process. Applying for a loan takes no more than a few minutes, and you’ll know if you’ve been approved quickly.
- Use the money for any purpose. There are no restrictions on how you can use your loan money provided you don’t use the money for any illegal purpose.
- Early repayment. You can pay the loan off ahead of schedule with no penalties, and in certain states, you might even qualify for a partial return of your loan fee.
What to watch out for
- Best for the short-term. Payday loans, installment loans and auto title loans all have high costs and aren’t meant to be used for long-term expenses. If you’re having issues, it may be best to contact a financial advisor.
- Limited state availability. Advance America doesn’t offer loans in the every state, and not every product is available in its serviced states.
- Multiple complaints. While Advance America has an excellent rating on TrustPilot, its Better Business Bureau page doesn’t fair as well. It has only six reviews — all negative — and over 170 customer complaints.
How do Advance America loans compare to other loans?
Beware of high costsDepending on your current financial situation and your state of residence, the fees you pay along with your loan could vary widely. Advance America offers a convenient chart that allows you to browse these before you apply, and after approval, you are given a loan contract that breaks them down further. The typical fee for every $100 borrowed is around $15 for a loan lasting two weeks.
Before you accept a loan contract, be sure you can afford to repay your loan within the determined schedule. If you have late or missed payments, you run the risk of defaulting and owing even more money. This could damage your credit. And if you took out an auto title loan, it could result in you losing your vehicle.
Is Advance America a legit lender?
Advance America is a fully-accredited, nationally-recognized financial institution, and it is a founding member of the Community Financial Services Association (CFSA), a body that encourages fair lending practices with full disclosure. Advance America complies with all applicable state and federal laws and outlines its fees clearly in loan offer documents.
What does the Internet say about Advance America?
Advance America isn’t accredited by the Better Business Bureau (BBB). And while has an A rating from the BBB, there are many customer complaints filed against the company in addition to government action taken by the state of California. Reviewers commented that Advance America had poor customer service and that the loans didn’t exactly follow contract.
TrustPilot is much different. There are over 16,000 reviews, and many of them are positive. However, there aren’t many that don’t have any details at all, just praise for the company. When making your decision, take both the positive and negative reviews into account before signing on for a loan.
Am I eligible?
- Have a valid government-issued ID
- Have a steady source of income
- Not involved in bankruptcy
- Be at least 18 years old (varies by state)
- Be a citizen or permanent resident of the US
How do I apply?
Advance America’s application only takes a few minutes, and you can apply either online or in-store. And if you want to save time when visiting a store location, you can start your application online and complete it with an Advance America employee later.
- Visit the Advance America website.
- Click Apply for a Loan to start your application.
- Select Use My Current Location or enter your zip code.
- Select whether you want to apply in-store or online (option depends on state).
- Create your account.
- Enter your personal information, including your address and phone number.
- Enter your financial information, including your income and bank account.
- Read the General Disclosures and the other general agreements before submitting your application.
Advance America’s electronic underwriting system will analyze your application. If you’re approved, you may be required to submit additional information to provide proof of your identity and income.
Are cash advance loans legal in your state?
Hover over your state of residence (or click on your state if you’re using a mobile device) to find out if cash advance loans are legal in your state.
When you’re looking for a quick loan, Advance America may be a good choice to get you the money you need to cover an unexpected expense. However, because of the high cost of short-term loans and the lack of in-depth reviews, you may want to compare your options to see if you can find a better deal with another lender.