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Installment Loans with Guaranteed Approval: Borrow from Direct Lenders in California

Most people associate a direct loan with a bank, the first direct lender. However, following the 2008 financial crisis, banks reduced their direct lending activity. You can still receive an installment loan from a bank but expect a complicated application procedure, stringent underwriting standards, and a lengthy wait for personal loan approval. You may have heard of other installment loan direct lenders, but keep reading to discover more about Ipass.

Many desperate consumers in financial distress turn to payday lenders for rapid approval loans. They frequently come to regret it in the end.

The temporary relief fades as they realize they must repay the full amount within weeks. After such a short period, many borrowers find themselves back in the same scenario. According to the Consumer Financial Protection Bureau, four of every five payday loans are rolled over or renewed. Each renewal includes a new set of fees in addition to the original sum and hefty interest rates. Borrowers receive rapid approval loans with extremely unfavorable lending terms.

Ipass is a direct lender and can be a financial lifeline, offering personal installment loans with flexible repayment terms.

What Are Direct Installment Loans?

A direct lender may be able to provide you with an installment loan. When you take out this kind of loan, you borrow a certain sum, which you must then pay back with interest over a certain amount.

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Since installment loans are paid back over a longer period, the monthly payments don’t often put too much strain on a person’s financial resources. Borrowers can go directly to a lender rather than through a broker to receive an interest rate that is even lower and has better terms.

How do I apply for Installment Loans from direct lenders? makes the process incredibly simple. Just fill out the application for the loan that’s available online.

  • Please fill out the simple application.
  • Approval takes minutes.
  • Your bank account will be credited with the money as quickly as the same day (business day*).
  • Pay it back in installments over time.

Can I Get an Installment Loan With Bad Credit?

Some prospective borrowers are worried that their credit histories may prevent them from qualifying for a sizable loan with favorable interest rates. This is not completely accurate. Even applicants with a previous bankruptcy and credit history that is less than perfect may be eligible for online installment loans. Simply give the requirements and circumstances that your lender requires, submit your application, and wait for approval. This is all that is required of you.

The Risks

Set you up with a payment schedule in advance. Some borrowers just do not want to deal with a long payment schedule and would rather be debt-free as soon as possible.

They would probably wish to make the repayment as quickly as they can. In most cases, taking out a short-term loan with monthly payments is not the best option in a circumstance like this one. You won’t be penalized by most lenders, including Ipass if you repay an installment loan early. However, if you are approved for and choose to use an installment loan. You will save much more on interest if you pay off your loan before it’s due.

Your credit score may deteriorate if you are delinquent or make late payments. If your payments are far behind schedule or delinquent, the lender may delegate debt collection to a third-party collection agency.

This will result in additional annoying collecting letters and phone calls and may also lower your credit score. To improve and maintain a high credit score, you should make it a goal to pay off all your loans and other debt on time.

Why You Should Get an Installment Loan

Installment loans make the loan application procedure easier. There is no use of industry jargon or fine print to conceal information. Everything is on display for your scrutiny. You can borrow a certain amount of money at a certain interest rate, and you must make certain payments over a certain duration. You can get an installment loan to enhance your credit, set up automated payments, and have your loan paid off with no effort. Everything is possible because you can.

As previously said, being authorized for one is simple because these loans are unsecured. Even if you have previously experienced credit problems, you may be eligible for one of our practical installment loans.

Aside from that, interest rates continue to fall as loanable amounts expand. If you desperately need money, there is no reason not to apply for a loan.

What Do You Need to Get an Installment Loan in CA?

You must fulfill the following standards before being considered for an installment loan. You will need the following things to apply for a loan with installments before you can even contemplate doing so:

  • Proof that you have a source of income can come in the form of a paystub, a bank statement, or any other document demonstrating that you have such a source. Attaching a bank checking account with visibility will allow you to accomplish this goal.
  • An account at a financial institution — To make deposits and payments on your loan, you will need an account with a financial institution. Some creditors will, although most won’t take prepaid cards or online bank accounts.
  • Lending institutions require documentation proving your identity and presence in the state, such as a driver’s license or ID card issued by the state or federal government. This guarantees that they comply with the state’s strict regulations for lending.

You should also be ready to submit personal information so the financial institution can verify your identity and proceed with the loan. You are going to be questioned about your credit history, as well as your address and social security number.

To prevent your private information from getting into the wrong hands, you should ensure that the financial institution from which you seek a loan has a good reputation.

How are Installment Loans in California Different?

The laws governing installment loans differ greatly from one state to the next. Borrowers should be aware that the terms and circumstances they will face when applying for an installment loan in California will be very different from those they would face if they applied with a lender in Texas.

Borrowers in Texas would face more restrictive restrictions and terms. When compared to other states, California’s lending regulations and restrictions are significantly stricter. This is done mostly to safeguard borrowers from predatory lending and unfair loan terms.

Despite this, there is little distinction between the cities that comprise the state of California. The restrictions on acquiring an installment loan in Los Angeles will be similar to those in San Diego. Most California installment loan restrictions also apply to consumer loans on a smaller scale. The Fair Access to Credit Act, signed by California Governor Gavin Newsom, is one of the more significant new pieces of legislation.

Under the requirements of this statute, a lender may not charge an annual percentage rate (APR) greater than 36% for loans ranging from $2,500 to $10,000. Furthermore, lenders are not permitted to charge additional fees on these loans if doing so would result in an interest rate greater than 36%. (Administrative service fees may still be assessed.) The restrictions imposed by this Act on various areas of loan terms must also be considered. The maximum loan duration for consumer loans with a balance of more than $3,000 is 65 months and 15 days.

Another provision of the California Constitution states that “non-exempt lenders may charge no more than 10% interest per year (.8333% per month) on money, goods, or things primarily used for personal, family, or household purposes.” Due to faults in the system, many lenders, particularly those that issue credit cards, can circumvent these requirements.

How To Get an Installment in California

Because of the evolution of modern banking and lending operations, it is no longer necessary to visit a physical store in the state of California to obtain an installment loan. Various online lenders and institutions offer online installment loans, including banks, credit unions, and other online lenders.

If you want, you can still visit a real store but apply for a loan online from the comfort of your own home. However, you will be required to verify that you are a California resident. Let’s examine your two options for obtaining an installment loan in California.


Customers can apply for an online installment loan using their mobile device or desktop computer from almost anywhere in the world. With some firms, such as Ipass, you can find out whether or not your loan has been granted and the amount of the loan within a few business days or even the next business day.

Look for an internet lender, bank, or credit union that offers online loans to secure a loan. You will be asked to provide the same basic personal information as you would for any other loan on your online application. Your loan application will also require you to provide proof of California residency. (The necessity to provide this information varies depending on the loan institution.)

The online lender will most likely evaluate your credit report and FICO score after your application submission. If you have any questions, please contact them. The monies will be transferred directly to your bank account if your application is approved. Your loan payments will also be handled online, usually through automatic withdrawals from your bank account.

For example, loan amounts obtained through internet lenders are frequently lower than those obtained from banks. Although the maximum loan amount varies by lender, it is typically much lower than what you could borrow from a traditional financial institution such as a bank or credit union.

A fantastic financial choice for today’s borrowers is an online loan, which offers the benefits of customization and ease.


Personal loans, which are issued directly to the borrower, are the most common type of credit loan. Before the internet and online banking, the only way to get a loan was in person. Because most banks, credit unions, and other lenders require you to attend in person, this may be your only option, especially for larger loans.

In-person loans are often more time-consuming to process than online loans, but in-person lenders are typically more respectable than some online lenders.


Installment loans are an excellent option for borrowing money for a personal loan or to finance a large purchase such as a home or automobile.

The lower interest rates and predictable payment schedule of these loans make budgeting for monthly installments easier.

However, failing to make payments on an installment loan may result in a poorer credit score and the loss of your car or home. Read the loan term choices carefully.

If you need to borrow money, installment loans are an excellent option. Just make sure you have enough money to pay your expenses on time.

minervaMinerva Hazel Boris Loans Writer at Ipass

As an Ipass expert on personal finance, Minerva Hazel Boris has covered topics such as personal loans, student loans, and much more. She was an editor and editorial assistant for the personal finance industry for the past three years. Minerva was a student of English in the department of English at Dixie State University, with a specialization in Creative Writing. She edited and contributed to the school newspaper, and also produced and directed student films.

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