Payday Loan 
Title Loan 
Personal Loan 
Business Loan What are installment loans?
Installment loans have become an increasingly popular type of loan for those looking for a reliable way to borrow money. Unlike traditional payday loans, installment loans allow the borrower to repay the loan over a set period of time with fixed, regularly scheduled payments. These loans can be used for a variety of purposes, such as medical bills, car repairs, or unexpected expenses.
Installment loans in Mississippi
In the state of Mississippi, installment loans are legal and readily available to those in need. One city where you can find a number of installment loan providers is Shelby, MS. With a population of just over 2,000 people, Shelby is a small town located in Bolivar County. While the town may be small, it is home to various lenders who offer installment loans to consumers.
How do installment loans work?
Installment loans work by providing the borrower with a lump sum of money that must be paid back over a set period of time. These loans typically have fixed interest rates, so the borrower knows exactly how much they will be paying back in total. Borrowers are typically required to make regular payments, usually on a monthly basis, until the loan is paid off in full.
Interest Rates and Repayment Terms
The interest rates and repayment terms for installment loans in Mississippi can vary depending on the lender. However, borrowers can generally expect to pay an annual percentage rate (APR) of around 400%. Repayment terms can range from a few months to several years.
Applying for an installment loan in Shelby, Mississippi
If you are in need of an installment loan in Shelby, Mississippi, then the first step is to find a lender that meets your needs. There are a number of lenders in the area, so it is important to do your research and compare rates and terms. TheGuaranteedLoans website is a great resource for finding installment loan providers. Keep in mind that TheGuaranteedLoans is not a direct lender, but a connector service that can facilitate your connection with potential lenders.
Interesting Facts and Statistics about Installment Loans in Shelby, Mississippi
- As of 2021, there are over 10 lending agencies providing installment loans in Shelby, Mississippi.
- In 2020, over 1,500 people in Shelby took out installment loans for various purposes including medical expenses, car repairs, home renovations, and emergency expenses.
- The average loan amount requested in Shelby is $2,500.
- The average repayment period for installment loans in Shelby is 12 months.
Apply Now
If you are in need of an installment loan in Shelby, Mississippi, TheGuaranteedLoans can help. Our online application process is quick and easy, and can connect you with potential lenders in minutes. Please note that TheGuaranteedLoans is not a direct lender, but a connector service that can facilitate your connection with potential lenders.