Why Installment Loans are Better

We’ve said it before and we’ll say it again… Just say NO to payday loans! Here’s why…


Risks of Payday Loans

As consumers move their financial activities online, cash-strapped individuals are turning to online payday loans; but you could be setting yourself up for a financial catastrophe.


What is a payday loan? Simply put, a payday loan is a cash advance given to an individual with the understanding that they will be paying it off with the next paycheck they receive. The ultimate danger of payday loans is that you can easily become trapped in an endless cycle of taking out loan after loan. Even though the pay period only lasts until your next paycheck, the interest rates that apply to a payday loan are so high that it can become extremely difficult for an individual to pay back the loan with only the money in their next paycheck. In fact, a typical two-week payday loan with a $15 per $100 fee equates to an annual percentage rate (APR) of between 400% and 5,000%!

Installment Loan Basics

An installment loan is a form of consumer debt that is repaid over time in regularly scheduled intervals.  As with payday loans, there is no “typical” borrower with an installment loan; but generally a personal installment loan can be used for a variety of purposes, including debt consolidation, building credit, or funding everyday expenses.


Personal loans are easier to obtain for poor credit or low-income consumers because they can be unsecured, which means that repayment is guaranteed only by your promise to repay, and not by a physical asset like a house or car.

Give Your Finances some TLC

Cracking down on expensive and predatory lending is not only desirable, it’s imperative.


Total Loan Company, LLC is a highly rated lender and the TLC team has a long history of working in the consumer finance industry. By comparison, an unsecured personal loan from Total Loan Company’s interest rates are 200% to 4,800% lower than payday lenders and are highly competitive with other installment lenders. Most of all we understand the challenges facing our customers and their families. We know there are times where you may need an installment loan to get you through a tough financial time. TLC is here to help!


At Total Loan Company, LLC the loans we make are as individual as the people who apply for them! We make borrowing easy, convenient, and affordable with fast loan solutions. If you need a personal loan, we can help! Apply here today and get your money tomorrow.


Questions? Contact us here! Our customer support team is always ready to assist you.