About Us

Americans spend as much as $7.4 billion on payday loans every year. With an average loan size around $400, that’s a lot of loans. And a lot of fees.

Payday loans are fixed loans. You have only one pay period - usually two or four weeks - to pay off your loan. If you can’t, you are charged a fee to roll over your loan.

We think payday loans are a bad deal for most people for two reasons:

1) Payday loans don't give you the time you need to pay your loan back. After all, if you had $500 to spare in two weeks, would you really need to borrow it today? Probably not.

2) Loan fees don't reduce your balance. When you make a payment to roll over your loan, it doesn't actually count against the balance you owe.

Doesn't sound like a good deal does it? That's why we created Spotloan.

Better loans. On the Spot.

Spotloans are short-term installment loans. You get the cash you need quickly and easily. You also get the time you need to pay off your loan - up to 8 months - so you're set up for success right from the start.

With a Spotloan, you also get:

Sounds better doesn't it? We think so, and thousands of customers agree with us. But, we'd like to hear from you if you think there's something that we can do better. Feel free to contact us anytime at feedback@spotloan.com.