FAQs

Both a payday loan and an installment loan are short-term loans designed to help you out with an emergency expense. A payday loan requires the borrower to pay the amount of the loan plus a fee in full at the end of the term, which is usually only one pay cycle. An installment loan offers greater flexibility by spreading the payments out over a longer period. Minute Loan Center installment loans offer both the flexibility of more time to repay the loan and the fact that there’s no penalty for paying the loan off early.

Not at the Minute Loan Center. FICO® credit scores do not have an impact on getting a Minute Loan Center installment loan.

No problem. Minute Loan Center installment loans are based on simple interest. That means your loan only accrues interest on the days you have the loan. If you pay your loan off early, the total cost of the loan is less than if you pay it off over the entire term.

We always recommend that someone only borrow the amount required to handle their short-term need. Every individual is different, and the amount one can borrow varies from state to state. When you apply for a loan with Minute Loan Center, we use your personal information to determine a loan amount that will work with your unique situation.

Your ability to borrow can increase with successful loan performance. Did you complete the loan term? Great! Were you on time every time? Even better! When you choose to take out a loan with Minute Loan Center, you build your credit with every on-time payment.

We do not hold a check for your loan.

Interest rates vary by product, state, and individual. Please refer to the product pages in the state you reside in for details on installment loan amounts and terms available where you live.

We are very sorry, but we do not offer loans to the Military at this time.

Yes, Minute Loan Center offers short-term loan products that are regulated at the state level and the federal level. We comply with state regulations and the CFPB (Consumer Financial Protection Bureau) on the federal level, as well as many federal regulations, including the Federal Truth in Lending Act (TILA), Fair Debt Collection Practices Act (FDCPA), Wall Street Reform and Consumer Protection Act, the Gramm-Leach Bliley Act (GLBA), and the John Warner National Defense Authorization Act. We work very hard to ensure that compliance is part of our culture and invest significant time, resources, and capital in making sure that our products, services, and experience meet or exceed what is required.

Just log into your account on the Minute Loan Center App or at www.minuteloancenter.com and click on “My Account,” then select “Bank Details.” There, you will find an option to update/add bank information.

Beware of personal loan offers that:

• Request that you send money to the lender in ‘good faith’ or to ‘secure’ your loan with a wire transfer or a prepaid card. Real lenders are in the business of lending money to people with an emergency need, not asking for money upfront from people in their time of need.
• Beware of companies asking for personal financial information if you did not initiate the transaction. Always be sure you are speaking with a legitimate lender. If you did not initiate the call, hang up or ask the reason for the call. You can call them back using legitimate sources, such as contact numbers found on the company website.