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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Advance America


About Advance America

Advance America is one of the US leading payday companies, offering full-service operations both in-person and online. The company was founded and started conducting its business in 1997. According to their official website, they are growing in line with the changing industry.

Its offers include payday loans, installment loans, online loans, personal lines of credit, and title loans. The main focus of the lender is short-term, small loans, taken to cover unpredicted expenses or to get extra money until the next paycheck.

Pros and Cons of Advance America


  • Loans are accessible to borrowers with poor credit.

  • Quick access to cash.

  • Small loan amounts are available.


  • The website may be temporarily unavailable.

  • Interest rates are rather high. Maximum annual percentage rates of up to 664%.

  • Payday loans do not aid in the development of credit.

  • Payday loans are prohibited in some states. Advance America may not operate in your area because of local laws.

  • If you use your vehicle as collateral for a loan, it may be confiscated.

  • Lack of adjustable payment terms.

Such micro-loans are just a good option if you take them for the first time. Companies appreciate new customers and provide discounted "test" loans. In all other circumstances, Advance America may not be a good option unless you have no others and a clear strategy in place to repay the loan and your obligations on schedule.

Terms and Conditions of Advance America

Interest rates and fees vary from one state to another. When you apply for an installment loan from Advance America, you'll be asked for your zip code before you can see what offers are available. Once you know what rates are available in your area, compare them to the fixed interest rates on personal loans from other lenders.

Advance America's interest rates might be rather expensive. Rates vary by loan type and state but are frequently in the triple digits. Payday loans in California, for example, include costs that amount to an annual percentage rate, or APR, of roughly 460%. Installment loans feature lower interest rates, but some have APRs that exceed 200%. For example, in South Carolina, an installment loan of $650 with a six-month term has an APR of 348.0%. You would have to pay back that $650 loan from South Carolina with $1,341.12. Check the Advance America website for the latest rates.

If you wish to get a loan from Advance America, you can fill out an application online. It will give you an idea of the rates and upfront fees based on your state, loan amount, and how long you have to pay it back.

Funding a Loan

If you get a payday loan in person, you might walk out with cash in your hand. On weekdays, if you fill out an online application by 10:30 a.m. EST, the money could be transferred to your bank account the same day. Advance America says that decisions about whether to approve are made in minutes.


Is Advance America a legit loan company?

The company is legal and offers payday loans, title loans, and installment loans in various locations around the country. However, scammers posing as employees of this financial company have already attacked unsuspecting clients in the past. To stop this fraud, the company works closely with authorities. Please inform Advance America and the laws if you notice any suspicious activity.

What happens if you don't pay back Advance America?

It depends on the sort of loan you have. For instance, if you have a car title loan, Advance America may repossess your vehicle. For auto title loans or any other debts, the company can also engage a debt collector to pursue you or take you to court.

What is the most you can borrow from Advance America?

Payday loan can start at as little as $100, although the minimum and maximum loan amounts vary by state.

Company documents

Privacy & Terms

At Advance America, we believe that our customers are more than a transaction, and we know that with a little bit of help, they can keep going today and look forward to tomorrow.

© Advance America

Calculate loan payments in Advance America

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What to focus on before applying for a loan with Advance America

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Advance America and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Advance America’s reviews by June 2022
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