About Advance America

With over 2,100 locations offering financial services, Advance America is a leading company in the payday and short-term loan business. It is a subsidiary of Elektra, one of the largest consumer lenders in the World. Although payday loans are its primary product, Advance America also offers installment loans in some states.

How Does Advance America Work?

Advance America's installment loans are little more than souped-up payday loans with shorter terms and smaller maximum loan amounts than those provided by most lenders. Advance America offers online applications in some states, but in other states, borrowers can start the application online but need to visit their closest loan shop to complete the transaction.

What Are Advance America's Rates and Fees?

Rates vary greatly depending on what state you live in and what type of loan you're applying for, ranging from 143.29% APR to 688.28% APR.

How Much Money Can I Borrow from Advance America?

It varies from state to state and depending on the type of loan, ranging from $100 to $5,000.

Which States Does Advance America Operate In?

Advance America offers loans online and in Alabama, California, Colorado, Delaware, Florida, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Missouri, Mississippi, Nebraska, Nevada, Ohio, Oklahoma, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.

What Is Advance America's Application Process Like?

The application process is fast and straightforward. You will need to provide two forms of ID, recent proof of a source of income and a means to verify your Social Security Number.

How Is Advance America Better Than Other Lenders?

Advance America's main selling point is speed. If you go to one of their brick-and-mortar stores, you can get cash on the spot. The rates are very high, but they will approve pretty much anybody with a job, a bank account, and ID. Also, there are no prepayment penalty fees to worry about, so you can pay the loan off early without paying extra fees. However, payments must be made every two weeks for some loans and the longest term available is twelve months.

  • Institution Type
    Direct Lender
  • Bank Account Required?
  • Credit Score Range
    300 - 640
  • Immigration Status Considered
    U.S. Permanent Resident
  • Joint Loan Applications Accepted
    Only Individual Applications
  • Military Status
    • Non-Military
    • Veterans
  • Minimum Age
  • Verification Documents Required?
    • Proof of Income
    • Driver License (or other photo ID)
    • Proof of citizenship/residence
  • No Prepayment Fee
  • Approval Speed (Hours)
  • Funding Time Range (in days)
    1 - 3
  • Payment Options
    Automatic Payments
  • Loan Amount
    $100 - $5000
  • APR
    143.29% - 688.28%
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