Advance America Becomes First To Offer Installment Loans Under New Florida Law
ORLANDO, Florida, October 25, 2019 / PRNewswire / – Advancing America, the country’s leading consumer lender, recently started offering Installment loan services to its customers in Florida – the first supplier to do so under a new law adopted by the Florida legislature in 2018. Florida consumers can now borrow regulated installment loans up to $ 1,000 in Advance America’s Florida store and online locations. Loans are repaid in installments, with repayment terms of 60 to 90 days.
“We are delighted to offer installment loans to Floridians,” said Mike Rhodes, vice president of operations for Advance America. “Our clients regularly tell us that they would benefit from having a choice between short and long term loan options to manage their financial obligations, and now we can help meet that need.”
In more than 20 years in business, Advance America has issued 124 million low-value loans in stores across the country and online, providing consumers with a range of innovative and regulated credit options for a range of amounts and of conditions in principal. In Florida, the company already offers two-week low-amount loans.
“There is no one-size-fits-all credit solution; consumers benefit most when they have access to a wide variety of options, ”said Jamie Fulmer, Senior Vice President of Public Affairs at Advance America. “By deciding to extend the credit market to installment loans, Florida Policymakers have listened to consumers’ calls for longer term solutions and more choices, providing a model for other states. “
Advance America has already received positive feedback from Florida clients on the new installment loan offer, via an independent client opinion platform Trustpilot, comprising:
“I particularly like the new practices initiated by Advance America, including a new [installment] loan product as well as online services. “- Carol
“I went to Advance America to get help on the new [installment] loans they offer. The agent was polite, professional and very understanding of my needs. “- Maizey W.
For more information on Advance America’s offerings, including the loan process and rates or to apply online, visit www.advanceamerica.net. To find stores in Florida, see https://www.advanceamerica.net/store-locations/florida.
About Advance America:
Founded in 1997, Advance America is the nation’s leading state-approved consumer lender, with 1,900 stores in communities across 28 states and online, and 5,000 employees. Advance America seeks to help every client achieve their version of financial stability now and in the future through a variety of innovative, regulated and transparent credit options. The Company is a founding member of the Community Financial Services Association of America (CFSA), whose mission is to promote laws that provide substantial consumer protection and encourage responsible industrial practices. Please visit www.AdvanceAmerica.net for more information.
SOURCE Advancing America