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Online Installment Loans

What Is an Online Installment Loan?

Online installment loans are one of the most common forms of credit. Power Finance Texas offers installment loans from $100 to $1,250.  Each installment loan must be repaid within a 6 month period of time.  We calculate our fees using a daily interest model.  Equal payment installments are made until the entire balance of the loan is paid back within 180 days.

Every time a payment is made, a portion of that payment is going towards principal, with the balance of your loan paid in full at the end of the 6 month period.  Of course, you can pay your loan off early at any time without any prepayment penalties of any kind.

Apply online today for one of our consumer friendly installment loans!


Power Finance Texas schedules your payments on each payday. So, if you get paid weekly, then your payments will be due every week, if you get paid bi-weekly your payments will be due every two weeks, and so on. We have created a handy chart with some examples of common loan amounts and pay periods. Exact payment amounts and finance charges will be based on your individual payment schedule and loan amount.

Click here to view our fee schedule.

How to Get an Installment Loan

As a potential borrower, you will work with a customer service specialist or apply online to provide the necessary information.

Online installment loans require a customer to have the ability to repay the loan.  We take great pride in being able to assist you with your needs.  At the same time, we want to make sure you are never in a position where you cannot make your loan payments.  The questions we ask on our online application or over the phone are designed to assist you as well as protect you.

Apply online today or contact one of our customer service specialists!

Power Finance Texas Personal Loans

Do you need a CASH LOAN fast?

Power Finance Texas arranges installment loans from $100 to $1,250 quickly.  Most loans are approved within minutes.  All it takes is a checking account, a phone number and a few other simple qualifications.  See why thousands of people choose Power Finance Texas for their fast cash needs.

Reasons for Getting an Installment Loan

We understand emergencies happen.  When you’re caught in a bind without means of getting money to cover expenses quickly, an installment loan may be for you.  Here are a few reasons why you may need an installment loan:

  • Auto Expenses
  • Emergency Cash
  • Unforeseen Travel Expenses
  • Unpaid Utility Bills
  • To Avoid Paying Overdraft Fees

What’s the difference between a payday loan and an installment loan?

Traditionally, a “Payday Loan” is a single payment loan, usually due in full on your next payday. Payday Loans may have the option to renew if you are unable to pay in full.

Installment Loans are set up to let you pay back over time. Your payments are structured to have a portion of each payment go towards your principal until it is paid off. Power Finance Texas offers Installment Loans with no prepayment penalties, this means that you can pay your loan off at any time. You can also pay more than your scheduled payment amount in order to pay your loan off faster with less fees.

Do installment loans build credit?

While we do not report directly to the three major credit bureaus, we do report your payments to sub-prime data providers.

Can I have more than one installment loan?

Based on your income and payment history, it is possible to obtain more than one Installment loan. In fact, most people do have more than one installment loan although they might think of them as car payment, student loan and mortgage instead of 3 installment loans. While you can have more than one installment loan, it is important to not overextend yourself and to only borrow what you can pay back.


You can still get fast cash by taking out same-day or instant loans. Same-day loans are installment loans that let you get the money you need on extremely short notice. You then make your payments on a fixed schedule, usually within a year.

But are there any guaranteed loans for bad credit? Guaranteed or secured loans for bad credit do exist, but they are much riskier than unsecured installment loans for bad credit. You risk losing other precious assets if you default on a secured loan, while you’ll only hurt your credit score if you miss payments on an unsecured one.

If you’re still asking yourself, “How do I get emergency money with bad credit?” That’s easy.

You can get emergency money by applying for a installment loan with us. We can approve the loan and send the cash to you shortly, no matter your credit score.

Installment Loan Versus Payday Loan

Installment loans and payday loans share some similarities, but it is important to understand the difference. While both loans get you cash quickly to solve inconvenient cash emergencies, the way you pay them back is different.

Payday loans are single payment transactions.  The amount you borrow is due in full on your next payday.  On the other hand, installment loans are paid back through a series of payments over a previously agreed upon period of time.  At Power Finance Texas, we offer installment loans that are paid back in full over a 6 month period of time.

All of our installment loans can be paid off at any time, for any reason.  There is never a prepayment penalty and because we calculate our fees based on a simple daily interest rate, you never pay fees for a day longer than you need to.

Online installment loans are more flexible, and thus more consumer friendly.

Can I pay off an installment loan early?

At Power Finance Texas, finance charges accrue at a daily rate, so if you pay off early you will only be charged for the time that you actually had the loan. There are no prepayment penalties.