From Payday to Small Installment Loans

From Payday to Small Installment Loans

All the biggest payday loan providers now offer installment loans, which are repayable as time passes and guaranteed by use of the borrower’s checking account, as well as mainstream pay day loans being due within a swelling amount. 1 This shift toward installment lending was geographically extensive, with payday or automobile name loan providers issuing such loans or personal lines of credit in 26 associated with 39 states where they operate. 2

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