Pre Approved Installment Loans | Fast Decision Guaranteed Today


Individuals may find themselves in a tough financial situation without warning, which may leave them scrambling for extra funds to meet their expenses. If you find yourself in a similar situation, you’re not alone, as millions of American citizens are also searching for alternative sources of credit. Besides the traditional methods of accessing credit, various other options have started emerging which provide individuals a way out. One of the most popular forms of non-traditional credit is pre-approved installment loans.

Pre Approved Installment Loans – With Very High Approval

Best Pre Approved Installment Loans – Quick-Pick

The growth of internet connectivity has spurred loan providers to offer simple yet reliable online platforms through which applicants can contact them. Additionally, various brokers have emerged which work with a network of lenders to provide their clients with the best loan terms according to their requested specifications. To save you the hassle of researching and the hours of searching that you have to do on the net, we’ve compiled a list of 5 of the most reliable bad credit loan providers that you can apply with.

  • Viva Payday Loans – Best for high acceptance pre approved installment loans
  • Credit Clock – Best for low APR installment loans
  • Money Lender Squad – Best for loans for all credit types
  • Very Merry Loans – Best for higher loan amounts
  • Heart Paydays – Best for quick decisions

How to get Pre Approved Installment Loans

The application process for guaranteed installment loans is similar and pretty straightforward no matter which broker or lender you choose. The websites have to be designed in an easily navigable way with all the details regarding the loans readily accessible. To explain the application process, let’s take the example of Viva Payday Loans as our broker.

1. Visit the Viva Payday Loans website – Go ahead and visit the home page where you’ll find an easily understandable layout. Click on the “Apply Now” button which is located on the top right side.

2. Completing the application form – After this, you will be redirected to an online form that is designed to record your information. At this stage, you have to enter the desired loan amount and a valid email address to continue. The online application form will also require your name and personal details, bank details, a summary of monthly expenses and any employment or income information.

3. Get your decision – Viva Payday makes sure that your loan application gets processed within 2 minutes and you will get to know whether you are qualified or not. The broker will notify you of the eventual decision on the spot within a couple of minutes, so don’t step away from your screen.

4. Receive your loan – Viva Payday loans will inform you if your application is verified, with a lender from their network providing you with a loan agreement. You must carefully review the terms and conditions of the lenders before you proceed to sign the agreement.  Once submitted, the lender sends the loan amount directly to your specified bank account.

Didn’t get the loan approved? Don’t worry, there are plenty of other brokers and lenders such as Credit Clock, Heart Paydays, and others on the list mentioned above. They are mostly free to use, do not conduct credit checks, and thus do not hurt your credit score.

What Are Pre Approved Installment Loans?

Pre-approved installment loans that are guaranteed are specially designed financial products which are to be paid off quickly, typically within 7 to 30 days. Some lenders of course can extend these loan periods to several months depending on the size of the loan. The nature of these loans is temporary and short-term.  Because they temporarily provide financial relief, lenders often impose limitations on the amount you can get as a preapproved installment loan.

These types of loans are usually meant for individuals struggling financially, with low credit scores and bad credit histories. They are also legal only in 32 U.S. states as the rest have outlawed them completely have some sort of limitation.

You can use a preapproved installment loan for getting out of sticky financial situations when all other options have failed. Most banks and traditional financial institutions impose strict criteria when it comes to loan eligibility which requires higher credit scores. Luckily, these preapproved loans are specifically designed for such situations. You can use the amount for whatever reason you like as the lender won’t enquire about the purpose.

That being said, some of the common expenses that are paid using preapproved installment loans include paying for past due utility bills, grocery bills, broker appliance replacement, unexpected expenditures, bills for veterinary and medical emergencies, new furniture, vacations, gifts and sudden vehicle repairs.

Best Pre Approved Installment Loans – Full Reviews

We’ve decided to elaborate on the list of the most reliable preapproved loan providers available, by reviewing each one of them individually.

  1. Viva Payday Loans

If you’re looking for high acceptance rates and quick cash paid within 15 minutes, Viva payday Loans is the right place for you. As an all-round bad credit installment loan provider, Viva Payday Loans provides loans of varying amounts and terms ranging from $200 to $5000 and 2 to 24 months respectively. They provide a quick online application that can be completed in mere minutes, with the final decision being notified almost instantly.

When approved, the broker will redirect you to direct lenders who are responsible for sending the funds to your account. If you are applicable, lenders may require some additional bits of information such as proof of income, proof of address and bank statements. After reading the terms and conditions, you can sign the loan after which you will receive the amount in your bank account. They use automatic monthly debit to take the monthly installment amount from you.

Depending on the lender that’s providing the loan from Viva’s network, the interest rate can vary. Generally, all lenders provide APRs that range from 5.99% – 35.99%. It works with lenders such as LendUp and Rise Credit.


  • Viva Payday Loans offer same day pay-outs
  • The broker offers loans ranging from $200 to $5000.
  • The approval process takes 2 minutes while the application process takes 5 minutes.


  • Viva Payday Loans do not operate in all U.S. states.

  1. is a popular bad credit lending broker which is talked about in U.S. circles. It eliminates the inconvenience posed by storefront loan applications by offering the service completely online. You can sign up, complete the application form and submit your loan request within 5 minutes. is known for completing the entire loan disbursement process in 60 minutes, with only some cases requiring 24 hours. It is known for possessing one of the highest approval rates of all the lenders mentioned in this list. You can successfully receive a loan even if you are unemployed, have bad credit, depending on government benefits, or simply need enough cash till you receive your salary.

Borrowers applying with can apply up to $5000 in a 24 month period. Their lenders provide APRs up to 35.99%. It works with lenders such as LendUp and ACE Cash.


  • You don’t need to make any phone calls or require any paperwork.
  • Disbursement is completed within 60 minutes.
  • 24 hours to pay


  • Certain loan offers with carry exceptionally high fees.


Very Merry Loans is an online installment loan provider that connects borrowers with US-based lenders. You can easily get your hands on guaranteed same-day loans which take only a few minutes to apply. It has a pay-out policy of 60 minutes. The broker presents a panel of lenders in the U.S. who match applicants and accept ones that are most likely to pay back. provides loans range from $200 to $5000 which allows anyone to pick a loan amount most suited for their requirements. APRs range from 5.99% to 35.99%. It works with lenders such as CashNet USA.

To apply for a loan from Very Merry Loans, one should be 18 years of age and be able to show income proof of at least $1000 per month, either through an alternative income stream or a traditional job. You will also require a verifiable form of identification and address proof.


  • Very Merry Loans allow unemployed and bad credit borrowers.
  • Repayment periods can be extended on request
  • Loan amounts range from $2000 to $5000


  • It charges quite a lot of interest on 30-day loans.


Money Lender Squad specializes in low APR loans with no guarantors in the U.S. market. It offers instant approval of installment loans with interest rates ranging from 36% to well over 400%.

The broker offers a simple application form that takes a few minutes. Simply fill in the form with your personal details and click on submit. The automated system then goes to work with finding an appropriate lender and comes up with results in a few minutes.

Money Lender Squad works with lenders such as Rise Credit and OppLoans.


  • Very Merry Loans allow unemployed and bad credit borrowers.
  • Repayment periods can be extended on request
  • Loan amounts range from $2000 to $5000


  • Interest rates are decided after considering your credit score. High-interest rates apply to individuals with lower credit scores.


Credit Clock is a guaranteed installment loan provider where you can go for loans ranging from $200 to $5000. It is known for its smooth application process and high approval rates. The applications are usually processed within 5 minutes with same-day pay-outs guaranteed.

Credit Clock welcomes individuals with bad credit to apply and thus has less rigid criteria. You only need to be eighteen years of age and have a monthly earning of $1000 or more.

Credit Clock loans are only applicable to permanent US citizens with APRs ranging from 5.99% to35.99% although some lenders could charge higher. It works with lenders such as GreenDay and OppLoans.


  • It welcomes bad credit borrowers.
  • Loan applications are approved within 2 minutes.
  • Same-day loans are guaranteed (24 hours).


  • You should be able to produce proof of income of at least $1000 per month.

Features of pre-approved Installment loans

As mentioned before, the process where debtors repay their commercial or personal loans in part payments (installments) at regular intervals is known as ‘Instalment loans’. The debtor reimburses a part of the capital amount along with a rate of interest for each installment. Usually, normal installment loans comprise low-interest rates and flexible clauses but one cannot rule out the risk factors and possible collateral losses. But preapproved installment loans have higher interest rates due to the risk that lenders take in.

Here are some of the crucial features to consider before applying for a guaranteed pre-approved installment loan


While with a low credit score, installment loans can be a bit expensive with a low loan take-out amount. Before applying it is important to see if you can afford the loan based on your monthly budget and bear loan expenses

Defaulting Costs

One must close their repayments on time to avoid defaulting troubles. Failing to do so might result in forced payments, legal actions, and the involvement of collecting agents.


Make a real-time mapping of the expected amount and how much you should borrow without paying higher interests.

Credit Score

Traditional Moneylenders prefer debtors to have a high credit score. They look into the borrower’s monthly earnings, equities, and existing loans to assess the loan amount and terms. However, these loans do not require high credit scores to be approved, making them ideal for less credit-worthy individuals.

If one can improve on the above factors, they are most likely to get accepted for a pre-approved loan with cost-effective terms and conditions.

Advantages and Disadvantages of pre-approved installment loans

Pre-approved installment loans are:

  1. Flexible
  2. Personalized as per debtor’s need for the loan amount
  3. Tailored according to one’s ability to repay the loan within a specific time

However, in the instance of a long-term installment loan, the borrower can end up paying a higher interest rate compared to the existing market rates (as the interest rates remain fixed and do not vary with market standards).

Here are some of the main advantages and disadvantages of a pre-approved installment loan:



Because of internet connectivity, applying for a loan is now quicker than ever.  The time can vary between few hours to as few as fifteen minutes. Personal loans for a below-average credit score are easily available on the internet with an easy online application process.


One can apply for installment loans and use the amount for all purposes be it for home furnishing, buying a new car, education, personal expenses, and others as long as it meets the legal terms.

Improves your credit score

Keeping at the top of the schedule repayments will repair your credit score, form a good credit history and make you a responsible debtor.

Easily Accepted

Specialized installment loans for bad credit individuals are accepted without much of a hassle. The entire process is conducted online with little to no paperwork required. It’s in the lenders best interest that it provide favorable criteria to make sure the maximum number of people can apply for the loan.


Nevertheless, all installment loans come with minimum risks which are more of a debtor-responsibility than is a disadvantage. Here are few cons to affirm before taking out a loan.

The loan charges/terms can be expensive for someone with a bad credit score and existing mortgages. Loan-installment amounts are fixed and must be paid within a specific time (as agreed in the contract). Missing out on a single installment can damage your credit score and impair your credit history. Also, one can get tempted to borrow an amount that is higher than their capacity to repay. Such events might damage one’s reputation and lead to legal dilemmas.

Eligibility Criteria

Preapproved installment loan providers usually keep their criteria less rigid to account for bad credit individuals. They make all the necessary concessions to make sure everyone has a chance at receiving a line of credit. Some of the basic eligibility criteria include the following.

  • You must be 18 years or older to apply with these lenders.
  • You must be a permanent resident of the US with legal documents.
  • You must provide proof of source of income of at least $1000 per month.
  • You should possess an official government-issued Identification.
  • You may be required to submit supporting documents such as proof of address, pay stubs, and bank statements.
  • You must have an active bank account with a United States Bank.

Application Process

One of the major reasons why consumers are attracted to installment loans for bad credit is its convenient and easy application process. This is something all brokers and lenders in this space offer and actively encourage. Almost all the application forms are similar among payday and bad credit loan providers and we will take Viva Payday Loans as an example.

1. Go to Viva Payday Loans

Start by heading to a reputable loan-finding service

2. Choose your loan amount & term

You will start off with a form asking you to specify your preferred loan amount along with the repayment period. You can choose up to $5000 with a repayment period of up to 2 years, applying to all states.

3. Make your application

Once decided on the amount, complete the quick application form and wait for confirmation. You will get to know whether you qualify for the loan or not in a matter of minutes.

The broker guarantees that all information will remain confidential and shared only with the lender under Viva Payday Loan’s network. The entire loan application process gets completed with a couple of minutes after which the appropriate lender will send the requested amount to your bank account.


How will I know if a pre-approved installment loan is right for me?

Why do pre-approved installment loans have high APRs?

Do I require a good credit score for a pre-approved installment loan?

How to increase my chances of getting a pre-approved installment loan?

About Jayme Wium PRO INVESTOR

Jayme is a professional freelance writer specializing in personal finance, business, nutrition, botany and mental health. She has studied extensively in these fields and spends a considerable amount of her time creating content to help simplify complex concepts for the everyday person.