Alternative Loans for Paycheck Advance

Paydays can come as frequently as once a week and as inconveniently as once a month. For those stuck on a monthly schedule, budgeting can be difficult. When there is a shortage in the budget or an emergency financial expense pops up, a loan might be needed to help fill the monetary gap. Perhaps you’ve just started a new job where your employer plans to hold your check for the first pay period, or you need to fill the monetary gap between the end of one employment position and the beginning of another. Installment loans can act as a pay advance for workers who need the assistance.

How It Works

Traditional installment loans are loans that are paid back in installments. Because the repayment of these types of loans are more flexible than loans that must be repaid in one lump sum, they can be helpful in a time when a borrower might need a pay advance. When entering into an installment loan agreement, the lender determines the amount, interest, and repayment strategy for the loan. After an agreement has been reached, the borrower receives the loan amount in full and repays the lender in a series of fixed installments. The duration and amount of each installment depends on how large the loan amount is.

Application Requirements

Western Shamrock offers secured and unsecured traditional installment loans for a variety of reasons, including pay advance. Credit history, income, and available collateral can impact loan approval decisions and terms. Applicant exclusions include individuals under 18, those serving in the military and their dependents.

While not the same as a pay advance from your employer, installment loans serve a similar purpose in filling the monetary gap during times of transition or shortage. It is also important to note that every loan varies in the duration of repayment from one borrower to another based upon the total amount of the loan. For example, a small installment loan could be repaid in under six months while a larger loan might require a lengthier repayment period.

Why Choose Us?

Borrowers choose Western Shamrock because of our exceptional customer service and non-traditional eligibility assessment strategy. We don’t rely on a single credit score to determine eligibility; we take an applicant’s debt-to-income ratio into consideration. In addition to phone and online service, you can speak to representatives at any of our local branches. Not only is our team readily accessible, but we are also committed to providing quick service. Applicants can expect a follow up call from one of our representatives as soon as half an hour after beginning their application. Whether it is by phone or in person, contact us today to find out how our loans can help you!