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Installement Loans

90 Day Loans

An installment loan is a loan product that is repaid over time with a set number of scheduled payments. The term of loan may be as little as a few months and as long as 30 years. A mortgage, for example, may be considered a type of installment loan.

The term is most strongly associated with traditional consumer loans, originated and serviced locally, and repaid over time by regular payments of principal and interest. These installment loans are generally considered to be safe and affordable alternatives to payday and title loans, and to open ended credit such as credit cards. Recently lenders in the cash advance industry have been developing these type of loan products for consumers.

There is a large demand for installment loan products for consumers. The longer payback period and lower interest rates enable consumers to payback the loan on time. Installment loans or credit loans offer more flexibility without the rise of a default or failure to pay based upon insufficient funds when a typical short term loan *14-30 days in most cases.

A Credit loan is the provision of resources such as granting a loan by one party to another party where that second party does not reimburse the first party immediately, thereby generating a debt, and instead arranges either to repay or return those resources or materials of equal value or larger value at a later date in time. Credit is in turn dependent on the reputation or creditworthiness of the entity which takes responsibility for the funds borrowed.


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