What Our Loan Agency Does
For over 50 years, The Banner Finance / Commerce Finance Family of Companies has provided families with quick, easy, reliable, and secure loan solutions. From paying rent to other expenses, we’ve got you covered! We can help give you the financial boost you need with a Traditional Installment Loan (TIL).
What is an Installment Loan?
A traditional installment loan is a specific dollar amount that a borrower receives from a lender and agrees to pay back in equal monthly payments or, “installments,” for a certain length of time. Monthly installments consist of the principal and the interest, which means there are no balloon payments or prepayment penalties.
Depending on applicable state and federal laws, we can offer TILs in amounts of $150 to $4,000 ranging from 6 months to 15 months.
How to Get an Installment Loan
We make getting the money you need easy:
- You provide some personal information;
- We verify your information and identity;
- We prepare a simple budget;
- Check that you make payments with others;
- We quickly contact you with the results;
- If approved, you sign the loan papers and get your money!
Why Get an Installment Loan
Whether it’s catching up on bills, paying for groceries, or buying important household items, a TIL can help you get your financials in order and get you what your family needs.
Traditional installment loans are a type of small-dollar loan that has been around for over 100 years. They can sometimes be confused with payday loans; however, TILs are radically different in the way they are structured and priced, making them a more affordable credit option than payday loans. Payday loans generally are not reported to the three major national credit reporting companies, so they are unlikely to impact your credit score; however, in certain situations, TILs can actually help increase your credit. TILs are also a safer option because they are affiliated with and thoroughly regulated by state and federal consumer protection agencies.
Learn more about the difference between installment loans and payday loans here.
Trusted Installment Loan Agency
We operate with complete transparency so there are no surprises. We also pride ourselves on our fast, friendly service — if you submit your application during regular business hours, you should get a response from us in less than an hour! Our professional loan specialists are experienced and always ready to answer any questions you may have. Find out how The Banner Finance / Commerce Finance Family of Companies can help you!
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