Advance America offers a variety of loans for in-store and online applicants
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.
What kinds of loans does Advance America offer?
- Payday Loans. Advance America offers payday loans at their storefronts and online. The amount you can borrow depends on your state of residence and your current financial situation. Advance America offers a convenient chart that allows 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 secure 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.
What are the features of a payday loan from Advance America?
When comparing loan options, keep in mind the excellent features offered by Advance America.
- Easy application process. Applying for a loan takes no more than a few minutes, whether you apply online or in-store.
- Use the money for any purpose. There are no restrictions on how you can use your loan money.
- 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.
- Good customer reviews. Advance America boast high ratings with its customers.
How do Advance America loans compare to other loans?
What are the costs of borrowing through Advance America?
Depending 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, result in you losing your vehicle.
Is Advance America a safe 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.
How do I apply for an Advance America payday loan?
Whether applying online or in-store, you will need to meet the following eligibility criteria:.
- Be at least 18 years old (varies by state)
- Be a citizen or permanent resident of the US
- Have a valid government-issued ID
- Have a steady source of income
- Not involved in bankruptcy
You will need to provide the following information during the application:
- Your complete name, Social Security number and date of birth
- Your checking account and routing number
- Your income and employment details
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.
Frequently asked questions
What is the difference between an in-store and online payday loan from Advance America?
With an in-store loan, you get access to the funds immediately upon approval. With an online loan, you can expect the funds to be deposited into your bank account as soon as the next business day.
How quickly can I get another payday loan after repaying the first completely?
This depends on specific state laws because certain states require a gap between two payday loans.
Does Advance America check my credit score before approving a loan?
No, but it could evaluate your eligibility by making use of an Experian custom rating model.
What is the maximum amount I can borrow?
The maximum amount you can borrow through this payday loan depends on where you live. Advance America provides an online tool to help you determine your state’s regulations on payday loans.
Can I pay the loan off ahead of time?
Yes you can, and in some states you can even look forward to a partial refund of loan fees.