with quick approval have helped hundreds of borrowers in a tight spot. However, payday loans have a few restrictions. They have limits on how much you can borrow. Many states have laws that cap payday loan amounts. Payday lenders usually also have their limits. Generally speaking, it is not easy to get a payday loan for over $1,000.
Installment loans give you the opportunity to borrow a lump sum of money to cover bigger expenses. Suppose you have a major car breakdown with estimated repair costs of over $1,000. If money is tight and you don’t get paid until later in the month, an installment loan can help. Depending on your state, you can get up to $3,000.