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Fast low cost federal employee personal loan with our installment loan program. Repay over 6 to 36 months. Please note a 4% origination fee will be charged with each installment loan1.

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Receive quick cash with our short term loans. Our loans can be created for your unique needs. Low cost loans quickly.

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PayDay Loans

Have an unexpected expense? Get a low cost, fast personal loan instead of a high cost payday loan. Almost everyone qualifies!

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Our federal employee loan is a lifesaver! Get a one-time loan of up to $500 for a maximum initial fee of only $30*, repaid over 5 months.

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How It works

We offer a totally new way of borrowing. The installation loans application process is a three step process.

Step One:

Go online to www.workplacecredit.com and create a login for yourself after inputting the necessary information details ( full name, phone number, email address etc).

Please note that if you are a USPS employee or a public sector employee, no employer code is necessary to create a login.

Step Two:

Indicate the loan preference of your choice after login. Our proprietary affordability model is designed to help you borrow only the amount you can pay back.

You will receive an email regarding your potential approval for the loan program shortly after once you have completed the application process.

Step Three:

Please note that you will need to have a valid U.S. bank account to receive funds upon loan request approval.

Upon completion of the loan agreement, the funds will be deposited in your bank account within 1-2 business days.

Please note that in case of any concern or questions you can reach out to WorkPlaceCredit via email or phone anytime during your installment loans  application process. Click here to reach us via email.

Installment Loans

Please note a 4% origination fee will be charged with each WorkPlaceCredit® installment loan1.


In short, Installment loans is the process of borrowing a lump sum of money which is paid repaid over a fixed number of payments.


Installment loans typically combine the principal loan amount with a fixed interest rate.


These loan payments are usually due monthly and may require collateral of some sort.


Installment Loans


When consumers cannot pay full price for an item, such as a mortgage or automobile, they will usually seek out an installment loan.


These loans are popular because the terms are always clearly laid out for the borrower.

What is an Installment Loan & How Can Installment Loans Help?


The contract will typically include the amount borrowed, the interest rate, the length of time to repay the entire loan, monthly payment amounts, and any fees or penalties when a payment is late or missed.


Some installment loans will charge a penalty for early payoff.


For larger loans, collateral may be required to secure the loan. When installment loans are secured with the borrower’s personal property, interest rates are usually lower than a loan that is not secured.


Borrowers who have very good credit may qualify for an unsecured loan, but again, the interest rate will usually be higher.


Installment Loans with Bad Credit


Remember that each installment loan will have slightly different terms.


So, make sure to shop around for the best deal for your type of situation. This can save a borrower a lot of money through the life of the loan.


There are many banks, credit unions, and online lenders to compare.


How to Apply for Installment Loans


To apply for installment loans, lenders will require you to show:

  • Verifiable source of income
  • Valid checking account
  • One or two valid phone numbers
  • Social Security Number
  • Proof of age (over 18)
  • Other information (by different lenders)


The difference between an installment loan and a credit card, or home equity line of credit, is that the amount borrowed is fixed.


With a home equity line of credit or credit card, the borrower can choose to take on more debt, and they decide how long to pay the debt off.


Depending on the amount of the loan, there are certain qualifications that have to be met.


Most lenders will run a credit score to determine initial eligibility. Larger loans will also require extensive background checks.


Installment Loans for Home Repair


For instance, an automobile loan may require a short work history while a home loan will typically require a much longer work history, as well as financial information, bank statements, and information about owned assets.


Student loans may require data from the University, as well as parental financial information.


Installment Loans History


Installment loans have been given for well over 150 years.


Many believe that the Singer sewing machine company came up with the idea in the 1850’s. Back then, sewing machines were in great demand, and carried a price that many could not afford.


So, Singer offered financing for their machines for one dollar a week.


Many believe this to be the origination of the installment loan concept.



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  1. Here is an example of the specific rates and fees that would apply to your loan with WorkPlaceCredit®: If you are requesting a loan of $3000, an origination fee of $120 (4%) will be added to your loan amount. The total amount of your loan would be $3120 which is financed at an interest rate of 20.99% and 25.18% APR. Should your chosen time frame for repayment be two years, your payments of $73.71 would be scheduled over 52 bi-weekly installments over the next 2 years.
  2. A $500 Emergency loan of $500 at 22.55% APR, you will make 11 bi-weekly payments over 5 months of $48.18. Your actual payment will vary based on the payment frequency and term of your loan offer.

Payroll deduction is not a condition for approving the loan.

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