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What Is an Installment Loan?
An installment loan is a short-term personal loan that a borrower repays in scheduled payments (installments) – that are basically equal in amount – over a specified length of time. Some consumers borrow money for unexpected expenses like home repairs, car repairs, medical bills, and other emergencies.
Borrowers approved for a personal installment loan at ACE pay back the principal (amount of the loan), plus applicable interest and fees. Loan amounts vary depending on the state, a borrower’s income and ACE’s standard underwriting criteria.2 There are no prepayment penalties at ACE, so borrowers who repay early may save money versus using the entire time allotted to pay back the loan.
How Do I Apply for an Installment Loan at ACE?
Anyone may apply! The process is convenient and takes just a few minutes. All you need are a few pieces of personal and financial information to get started. Please refer to the Installment Loans Requirements page for more information.
Step 1: Fill out an application based on where you live:
Delaware – apply online
Florida, Missouri, and Texas – apply online or in-store
Louisiana, Oklahoma, Ohio, and Virginia – apply in-store
Step 2: Receive a quick decision.
Step 3: If approved, sign the loan documents and decide how to receive the loan funds.
How Do I Receive Funds from a Personal Installment Loan?
If approved for a personal loan online,2 ACE offers convenient ways to receive your funds.
Instant Funding to a Debit Card
If you are eligible, ACE’s Instant Funding to a debit card is the quickest way to receive your online loan proceeds.3
Direct Deposit
Get cash deposited directly into your bank account the next business day.4
Pick Up Cash at an ACE Store
Visit a local ACE store to get same-day cash pick-up, if eligible.2
How Much Money Could I Get if Approved for an Installment Loan?
Not all consumers will qualify for an installment loan or for the maximum loan amount. All loans are subject to approval pursuant to standard underwriting criteria. Rates and terms will vary depending upon the state where you reside.2
Why Should I Choose ACE for a Personal Loan?
Simple online application process, quick decision
It’s convenient to apply for what you need, even if you’re not sure if you're qualified. You’ll receive a quick loan decision on your application.
Come into one of our stores for great service
ACE associates are ready to assist you with your personal loan application as well as other financial service needs like check cashing, money orders, bill pay, and more.
No prepayment fee
Loans at ACE don't have prepayment penalties, so you can pay off your loan early, which may save you some interest and fees (where applicable).
Satisfaction guarantee
Loans at ACE come with a 72-hour satisfaction guarantee. If you change your mind and return the principal within 72 hours, you pay nothing more. ACE does not charge a fee to apply.
What Are Some Benefits of an Installment Loan?
If you are approved, an installment loan can be a helpful option when you need money for emergencies, but you’re worried about paying it all back on your next payday.1
Repay the loan over time, not all at once1
Predictable payments
Higher loan amounts than a payday loan2
Instant decision
Satisfaction guarantee*
*If you change your mind and return the principal within 72 hours, you pay nothing more.
Installment Loan Questions
An installment loan might be a good option when you need a personal loan with an extended repayment period. Everyone may apply.
There are not application fees for loans at ACE.
Applying for an installment loan at ACE does not affect your FICO® Score,† although it may impact your overall credit profile with non-traditional consumer reporting agencies.
Installment loan payments are typically due on consecutive pay dates. For instance, if you are paid every two weeks, your due dates will typically be every two weeks on your pay date. The number of payments and the term (length) of the loan will vary depending on your pay frequency. You’ll be informed of the payment due dates and amounts if your application is approved.
Louisiana and Oklahoma customers: Please visit your store for information about number of payments and term (length) of loans.
There are many factors ACE considers when assessing your ability to repay a personal loan. Anyone may apply.
