
A small-dollar installment loan is a type of short term loan that usually lends you money in the range of $500 to $5000, which is to be repaid in regularly scheduled monthly or bi-weekly payments. This type of loan is a great option to meet working capital needs as most banks, credit unions, and other traditional financing institutions do not lend small amounts of money. It is a great alternative to payday loans that charges you predatory interest rates, high processing fees, and needs to be repaid in a single payment on the next payday.
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