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Online Installment Loans

With an installment loan, you can get the cash you need now with more time to repay!

A LoanByPhone direct lender installment loan is a new and exciting cash option offering a longer term, or more time to repay, than that available with a payday loan. Your installment loan will come with a set number of scheduled payments, typically two or more, with planned payments over a term of a few weeks to a few months.

How much can I borrow with an installment loan?

An installment loan with LoanByPhone can be between  $500-$1,500, depending on your state of residence and ability to repay.

How do installment loans work?

An installment loan works similarly to a payday advance, except with no lump-sum payment. Instead of repaying your loan all at one time on your next payday, an installment loan allows you to repay set amounts in installments over a longer period of time.

(See Rates & Terms for more information)

Follow the easy steps below to see how much cash you qualify for with a LoanByPhone installment loan.

  • APPLY Complete our secure online application above. It only takes about 5 minutes.
  • SIGN If you’re pre-approved, confirm your funds by e-signing your loan documents.
  • GET CASH Once approved, your cash will be ready for use in about *24 hours.
  • REPAY LOAN You will receive a bill each month detailing your monthly payment toward your line of credit.

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What do I need to apply?

You must be at least 21 years old to apply for an installment loan. To get started, you will need your:

  • Social Security Number
  • Proof of Income (from your job, pension, welfare, or other source)
  • Valid email address
  • Active checking account (open for at least 90 days)
  • Current cell/home and work phone number

Still have questions?

Check out our installment loan FAQs for more information.


*The funding process typically occurs within 24 hours or the next business day after receiving approval. Installment loan requests processed before 7:00 p.m. EST during non-holiday business days are usually funded the next business day. For example, a customer whose installment request is received Monday before 7:00 p.m. EST and is verified and approved by LoanByPhone will typically receive access to the funds on Tuesday (if Tuesday is not a holiday).