Borrow more than a payday loan allows and pay it back in equal monthly payments you can plan around. Approved on income with a soft credit check, funded the same day, and you can pay it off early any time with no penalty.
Every installment loan is fully amortized: each payment covers that month's interest plus part of the principal, so the balance falls every month and there is never a balloon payment. Example at 89% APR, the most common rate on a 12-month Florida loan.
| Month | Payment | Interest | Principal | Balance after |
|---|---|---|---|---|
| 1 | $257.42 | $148.33 | $109.09 | $1,890.91 |
| 2 | $257.42 | $140.24 | $117.18 | $1,773.73 |
| 3 | $257.42 | $131.55 | $125.87 | $1,647.86 |
| 6 | $257.42 | $101.83 | $155.59 | $1,217.36 |
| 9 | $257.42 | $66.99 | $190.43 | $712.83 |
| 12 | $257.42 | $18.78 | $238.64 | $0.00 |
Paying early is always allowed and always saves money: you owe only the interest accrued to that day. Use the calculator below for your own numbers.
Installment loan rates range from 89% to 149% APR by state and term. There is no origination fee, no application fee and no penalty for paying early — the APR is the whole cost.
| Borrow | Monthly | Total | Interest |
|---|---|---|---|
| $500 | $64.36 | $772.32 | $272.32 |
| $1,000 | $128.71 | $1,544.52 | $544.52 |
| $2,000 | $257.42 | $3,089.10 | $1,089.10 |
| $5,000 | $643.55 | $7,722.60 | $2,722.60 |
Installment loans are available in all three states we serve, online and in store. Terms and maximums vary slightly by state.
| Term | APR range | $1,000 / mo | Total |
|---|---|---|---|
| 3 mo | 89% | $385.52 | $1,156.56 |
| 6 mo | 89% | $210.70 | $1,264.20 |
| 12 mo | 89% | $128.71 | $1,544.52 |
| 24 mo | 89–119% | $83.10 | $1,994.40 |
Maximum $5,000. No origination fee. Soft inquiry only. Same-day deposit before 3 PM ET.
| Term | APR range | $1,000 / mo | Total |
|---|---|---|---|
| 3 mo | 89% | $385.52 | $1,156.56 |
| 6 mo | 89% | $210.70 | $1,264.20 |
| 12 mo | 89–99% | $128.71 | $1,544.52 |
| 24 mo | 99–129% | $88.20 | $2,116.80 |
Maximum $5,000. Georgia's most-used Bears Lending product because payday loans aren't permitted.
| Term | APR range | $1,000 / mo | Total |
|---|---|---|---|
| 3 mo | 99% | $390.58 | $1,171.74 |
| 6 mo | 99% | $215.30 | $1,291.80 |
| 12 mo | 99–129% | $133.70 | $1,604.40 |
| 24 mo | 129–149% | $101.80 | $2,443.20 |
Maximum $5,000. Borrowers must be 19+. Repayment plan available on request.
APR ranges shown are the current bands by term; your exact APR depends on state, term and history. No prepayment penalty in any state. Loans subject to approval, state law and your written agreement.
The break-even is about one pay cycle: for two weeks a payday loan is cheaper; for anything longer an installment loan wins, and the gap grows every month.
Move the sliders to see your monthly payment, total interest and full cost of an installment or personal loan. Nothing is saved and no credit check runs.
Typical Bears Lending APRs: personal loans 17.99%–35.99%, bad credit loans 59%–99%, installment loans 89%–149% depending on state and term.
We use a soft credit inquiry to confirm identity and check for open bankruptcies. It is visible only to you on your credit report and has no effect on your score. Approval is based on income and ability to repay, not the number.
Both are repaid monthly. The difference is who qualifies and what it costs.
| Feature | Installment loan | Personal loan |
|---|---|---|
| Amount | $500 – $5,000 | $1,000 – $5,000 |
| Term | 3 – 24 months | 6 – 36 months |
| APR | 89% – 149% | 17.99% – 35.99% |
| Credit check | Soft only | Soft → Hard |
| Who qualifies | Any credit, income-based | Fair credit or better |
| Funding | Same day | 1 business day |
| Cost of $2,000 / 12 mo | $1,089 interest | $401 interest |
If you think you might qualify for a personal loan, apply for that first — the soft check tells you in minutes with no impact. Personal loan details →
Applied online at 9 am for a $3,000 installment loan, same-day deposit hit by 2 pm. The rate is high but clearly stated, and I paid it off in month 7 — they charged only the interest to that day, exactly like they said.
Needed $1,500 for a roof patch. The Statesboro store showed me the full 12-month schedule before I signed — every payment, every balance. No surprises once. That's all I wanted.
$500 to $5,000 in all three states. The amount is based on your income and existing obligations, not your credit score.
A soft inquiry only, which never affects your score. We do not run a hard inquiry on installment loans.
Online applications approved before 3 PM Eastern are deposited the same business day. In store, you can leave with cash or a same-day deposit.
Yes, any time, with no penalty. You pay only the interest accrued to the payoff date, so early payoff always saves money.
Call before the due date and we can move it or set up a repayment plan. Late fees are limited by state law and are listed on your agreement. What happens if you don't pay →
Yes. On-time payments are reported monthly, which can help rebuild credit over the life of the loan.
For two weeks, payday is cheaper. For a month or more, installment is cheaper — usually by a lot. Full comparison →
Soft credit check, fixed monthly payments, funded the same day online or in store. Pay it off early any time.
Photo ID · SSN · proof of income · active checking account. Age 18+ (FL, GA) or 19+ (AL).
Store hours
Bears Lending