what is a signature installment loan

What Is A Signature Installment Loan?

A signature installment loan is a type of good faith loan that doesn't require collateral. Instead, you simply provide your personal information and promise to repay the loan as per the agreed payment plan. That’s why this type of loan includes the word signature in it, since your signature functions as a promise of repayment. While the installment part means that these loans are paid back over several payments, allowing you to easily slot them into your budget. 

In the subsequent sections, you'll discover more about what a signature installment loan is and how it works to help you decide whether it's the right option for your situation. 

What's A Signature Installment Loan?

A signature installment loan is a type of loan that allows you to make regular monthly payments over its term until you pay it off. With signature installment loans from Utah Title Loans, Inc., you can borrow up to $1,500.

One of their most attractive characteristics is that you don't need to supply collateral. Collateral is an asset (like a vehicle, for example) or property you promise to a lender to get a loan. But with installment loans, you don’t need to worry about whether you have such an asset to put up as collateral.

what can you use installment loans for

What Can You Use Signature Installment Loans For?

Signature installment loans are best when used to pay for unexpected expenses or emergencies. They aren't for long-term financial issues. Instead, they're designed for short-term cash flow problems arising from situations, such as:

  • Unexpected medical bills.
  • Unforeseen urgent travel costs.
  • Bills that were higher than normal or completely unanticipated.
  • Major, necessary home or auto repairs.

Of course, other circumstances may justify acquiring a signature installment loan. As a general rule, a signature installment loan could be an option for you if:

  • Your situation will worsen if left unaddressed.
  • You don't have time to find money elsewhere.

What Do You Need To Get A Signature Installment Loan?

Unlike traditional bank loans, you don't need to meet a long list of requirements to be eligible for signature installment loans in Utah. Instead, you just need to supply the following three documents:

  • State-issued photo identification — Usually, our customers bring their driver's license.
  • Proof of income — Typically, you need to supply your most recent pay stub. 
  • Checking account statement — The account must be open in your name and active at the time of receiving the loan.

How To Get A Signature Installment Loan

Getting a signature loan tends to be relatively easy and faster than other types. While our loan representatives at Utah Title Loans, Inc. may check your credit health, you don't need to supply a never-ending number of documents. All you need to do is follow our simple, six-step process:

  1. Complete the online installment loan form. It sends your information directly to your nearest Utah Title Loans, Inc. store.
  2. Sit back and wait for one of our loan representatives to give you a call. They'll discuss the process, talk about the required items, and answer any questions. 
  3. After the conversation, head to your closest Utah Title Loans, Inc. storefront with your ID, proof of income, and a checking account statement in your name.
  4. Wait while our loan associate verifies your items.
  5. Once verified, you'll complete the rest of the process alongside the loan associate. It involves filling in some simple forms and signing documents.
  6. If you are approved, you will receive the money you qualify for on the same day or the following business day.

The in-person process won't take up much of your day — it usually lasts for just 30 minutes, making it a quick loan option.

finding the nearest installment loan

Where Is Your Nearest Utah Title Loans, Inc. Store?

During the process, you will need to visit one of our stores so our loan representative can verify your documents and confirm your identity. So, it's only natural to consider where your closest Utah Title Loans, Inc. is located.

Luckily, we have Utah Title Loans, Inc. locations across the state for you to pick from. Simply use our store locator to find your nearest storefront. 

Submit Your Signature Installment Loan Inquiry Today!

Getting a signature installment loan is an option when you're struggling to meet an unexpected payment or getting the funds needed for an emergency. Our process is straightforward and lets you acquire the money you need as soon as possible. 

Start the process now but completing our short inquiry form or by giving your local Utah Title Loans, Inc. store a call at 800-514-2274. One of our expert team members will be on hand to help you throughout the process.


Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Emma Frost

Emma Frost is a lifestyle and finance blogger with a talent for communication and a passion for financial literacy. She uses her writing talents to explore topics that help her readers gain financial stability and growth.