Advance America is a loan company with over 2000 locations across the United States and Canada. As a financial services company, it offers payday loans, cash advances, check cashing, and bill payment services.
An Advance America cash advance can be a good option when cash-strapped, especially considering its status as a financial services company. You can find the Advance America storefront in over half of the US. Based on where you reside, you can get an installment loan or title loan and a line of credit and leave the store with cash in the bank.
Where can I find an Advance America store close to me?
Advance America has a map tool available on their website to assist you in finding branches that are in the area you live in. Take these steps to begin:
- Check out the Advance America website and click Stores on the top menu.
- Click “Use my current place of residence to enter your zip code.
- Select a location from the list below to locate this prominent financial services company’s address, contact number, and available services.
States in which Advance America loans are available on the internet
You may also request a payday loan and other loan options through Advance America online if you reside in one of the following states:
What is the process for getting a payday loan at Advance America?
If you want to apply for a payday loan in the Advance America store, follow these steps:
- Go to the Advance America location and speak to one of the representatives.
- Apply for a payday loan with your personal information, including details about your Social Security number and proof of income.
- It would be best if you waited for an answer from the lending institution.
The whole process of getting Advance America cash is about 15 minutes. You’ll receive your loan immediately if you get Advanced America loan approval.
How can I qualify for a loan at Advance America?
If you go to the Advance America store, be sure to bring the following information on hand:
- Photo ID issued by the government
- Proof of a checking account that is active (similar to an account statement from a bank
- Documentation of source of income like a pay stub or benefits letter, or direct deposit notice
- Social Security number
- Check the check — it varies according to the state.
If you intend to borrow title loans at America Cash Advance, make sure you are to bring along your car’s unreliability-free title along with the car itself, proof of residence as well as proof of insurance, depending on where you reside.
Types of loans you can apply at Advance America.
You can apply for online loans at Advance America, which offers a variety of options. The approval process is quick and easy, giving you access to the funds you need on time. Feel free to explore the different types of loans available and find the one that best suits your needs.
There are many types of loans available at Advance America. Some of the most common types include:
Cash Advances and Payday Loans
For payday loans and cash advances, borrowers pay a fee for each $100 borrowed. A payday advance is a quick cash advance that can help you meet your short-term financial needs. It is one of the most common loan options for people who require immediate financial assistance. You must repay payday loans in full upon your next payday.
Installment Loans
This loan is more significant than a cash advance and payday loan. You must pay in equal monthly payments over 12 months. A fee applies for each $100 borrowed up to the first $1,000; interest applies to all amounts after that point. An origination fee may apply to the total amount due at closing if approved for a loan. A returned payment fee also applies.
Credit Builder Loans
A Credit Builder Loan is a common loan that aims to help borrowers improve their credit scores. These loans are for people needing a stronger credit history or rebuilding credit. They often come with a lower interest rate and flexible repayment terms to ensure on-time payments and steady improvement of the borrower’s credit score.
This secured loan from Advance America allows you to build your credit history with an installment plan that’s right for you. The minimum loan amount is $100, and there are no charges for additional extensions through the Credit Builder program as long as the account remains in good standing. Unlike payday loans, there is no origination fee on either of these options.
Cash Loans Against Your Tax Refund
Cash loans from Advance America are available as a lump-sum advance against your federal income tax refund or installments up to 000\. Interest rates range from 45% Annual Percentage Rate (APR) to 200% APR for cash advances when borrowers choose the installment option. Even those with poor credit or no credit score can apply for this type of secured loan.
No Credit Check Loans
Advance America offers no credit check loans with flexible repayment terms for those with a poor credit history or no credit score. The minimum loan amount is $100, and borrowers can choose between a payday loan or an installment plan with varying Annual Percentage Rates depending on their financial situation.
These loans are for applicants with a bad credit score. It is an unsecured form of lending that does not require credit score verification. You are still under review by Advance America’s underwriting system to determine whether you qualify for this loan offering and what interest rate will apply. There is an origination fee of $25 on this loan.
What are the other services that Advance America offers at its stores?
In addition to the short-term loan you need, Advance America also offers several other products and services.
- Prepaid debit cards
- MoneyGram money transfer
- MoneyGram bill pay
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The Consumer Financial Protection Bureau (CFPB) does not require lenders to evaluate your loan repayment ability. It also applies to Advance America. Please carefully examine your finances and the loan’s cost to ensure it’s within your budget. It puts you at the risk of being stuck in a cycle of debt.
Before you get a loan from Advance America
Installment, payday, and auto title loans from Advance America have high-interest rates and charges that could trap you in a cycle of debt. The borrower may take out a third or fourth loan because they could not repay the first in time.
Look at other alternative options before taking Advance America short-term loans. Explore various financial solutions and compare different loan offers to avoid getting trapped in an unfavorable debt situation.
- The local resources. Non-profits, government agencies, and local charities usually provide those in need with free financial aid and utilities, food, and rent assistance.
- Payment extensions. Contact your bill service provider about a more extended payment plan or an extension of the due date if you need to pay on time.
- Emergency cash options. Explore various emergency cash options such as borrowing from friends or family, using a credit card cash advance, or utilizing short-term lending services.
Here are some statistics about Advance America Loans:
| Statistic | Value |
|---|---|
| Number of Advance America locations | 2,400+ |
| States with Advance America locations | 35 |
| Average loan amount for Advance America loans | $500 |
| Average interest rate for Advance America loans | 391% |
| Average repayment period for Advance America loans | 14 days |
Advance America Loans Alternative
- Mobiloans
Mobiloans is an alternative to Advance America loans. It’s a smart and easy option for those who need cash fast without the hassle of a traditional loan. Mobiloans offer convenient loans and a higher chance of loan approval than traditional lenders.
Mobiloans Reviews provides revolving credit up to $1,250, with very reasonable APR, low payments, and flexible terms. The loans also have an added convenience factor since Mobiloans deposit the money into their bank account within one hour!
The application process is short, simple, and secure. Just provide some basic information about yourself, and you’ll quickly get approval for a loan amount that suits your needs. You can borrow what you need anytime, without penalty for early repayment or additional fees. It makes it much easier to pay off the loan when you have extra cash available. And if something comes up suddenly and you can’t afford to pay back the loan when it’s due, Mobiloans has options for extensions. The quick approval decisions allow you to get the extra cash promptly.
Lone Star Title Loan could be a great option if you want an alternative to Advance America Loans. It’s an online lender specializing in title loans — small-dollar, short-term loans secured by your vehicle’s title.
One advantage of taking out a title loan from Lone Star Title Loan is that you have more ability to customize your loan than with other alternatives, such as payday loans. For example, you can make payments every two weeks instead of a traditional monthly payment. You also have the option for emergency cash to pay off some or all of the loan early and get reduced interest rates if you do so.
Another advantage is that Lone Star Title Loan requires no credit check, and the application process can take less than one hour. It makes it one of the fastest funding options available compared to its competitors, like Advance America Loans, which can take up to 24 hours or more before approval. Moreover, they offer maximum loan amounts higher than most Payday lenders, making it a better option for those needing a larger sum.
The only downside is that since your vehicle’s title secures loans, defaulting on payments could result in a repossession. Overall, Lone Star Title Loan is a great Advance America loan alternative for those who need quick cash but want the customizable options this lender provides.
- Advance Financial
Advance Financial 24/7 Review is a great alternative to Advance America loans. They offer payday and installment loans with competitive rates and flexible repayment plans. And, unlike Advance America, they don’t require a hard credit check. They also promise to complete the transactions within a business day.
So why choose Advance Financial? Advance Financial is a trusted Licensed Lender that connects borrowers with lenders. Their lender network enjoys the trust of hundreds of thousands of Americans who rely on them for fast cash when emergencies happen. They offer some of the most competitive loan terms, including online payments, direct deposit payroll deductions if desired, account bonuses, and more.
- Cashnet USA
Cashnet USA Reviews specializes in short-term installment loans, allowing borrowers to borrow between $100 and $3,000, depending on state limits. They also offer secured and unsecured loan options, so you can find something that fits your needs. With a quick turnaround, you can get funds from a trusty Licensed Lender within a business day.
Cashnet USA also has features intended to help customers manage their financial lives better, such as easy payment plan scheduling and tracking expenses to help pay their bills on time. And unlike Advance America Loans, Cashnet USA will work with a broader range of credit scores. That means that even if your credit isn’t perfect, you could still qualify for a loan with them! Additionally, they provide access to bank statements and money solutions that meet your needs and collaborate with your applicable lender to ensure smooth loan transactions.
Bottom line
Advance America covers its bases by providing the three most popular types of short-term loans across 28 states. However, before you embark on the journey, please read our review of Advance America and learn how to use online payday loans to ensure you know the impact of borrowing on your financial situation.
Frequently Asked Questions
What types of loans does Advance America offer?
Advance America offers payday loans, installment loans, line of credit loans, title loans, and prepaid debit cards. They provide a variety of short-term lending options for customers in need of fast cash.
How do the interest rates and fees of Advance America Loans compare to other lenders?
Advance America’s rates and fees are comparable to other payday lenders, often ranging from 200% to over 700% APR when annualized. This is much higher than rates from traditional lenders and cards.
Are there any specific requirements or qualifications to apply for an Advance America Loan?
Basic requirements include government ID, proof of income, open checking account, telephone number, and being at least 18 years old. Criteria vary by loan type but credit checks are not part of their lending decisions.
What is the typical repayment process for Advance America Loans?
Repayment involves authorizing Advance America to withdraw the loan amount plus fees from your checking account on the due date, generally your next payday for payday loans. Installment and line of credit loans have longer terms.
Can you explain the advantages and disadvantages of getting a loan from Advance America?
Advantages include fast approvals and funding even with bad credit. Disadvantages are very high rates and fees, short repayment terms that encourage rollovers, and potential for falling into debt traps.
