Have actually you ever sent applications for auto loan or home loan? Both these loans would be the forms of Installment Loans. You all the money at the same time, and asks you to pay back the amount in the over the time following the schedule, you are applying for an Installment Loan if you are applying for a loan and lender offers!
What exactly is an Installment Loan?
An installment loan differs from the others from the Lines of Credit and Merchant cash loan, personal lines of credit offer revolving credit – your bank account recharges after you have compensated your debt with interest. Having said that, Merchant Cash Advance gives you the funds and, then your loan provider takes funds from your day-to-day bank card product sales. Read more