Cashadvanceusa.net Adds Lenders That Provide Payday Advances with Installment Payments -- LITTLE ROCK, Ark., Nov. 1, 2013 /PRNewswire-iReach/ -- Installment Payment Option for Borrowers with Poor Credit. PRNewsFoto/Cash Advance USA Ltd LITTLE ROCK, Ark., Nov. 1, 2013 /PRNewswire-iReach/ -- One of the criticisms of the payday lending industry is that it doesn't give borrower's enough time to pay back the loans. Normally, these types of loans get paid back with one payment over one payday cycle. This can be two weeks or one month depending on when the borrowers receive checks. But now, more payday lenders are offering installment payments. Photo: http://photos.prnewswire.com/prnh/20131101/MN07380 "We're excited about this trend," states CEO Mark Miller. Installments break payments up and give borrowers more time to pay back loans. By offering multiple payments instead of one-time payments with late fees, installment loans make the payday loans a more attractive option for those who need fast cash. Reluctant borrowers who shied away from cash advance due to the short repayment cycle can now take advantage of the opportunity to stretch the loan payments out over multiple paydays. "It's a win-win situation," says Miller. The lenders win since they extend more loans and the borrower wins because they don't have as much pressure to pay the loan back so quickly. Typically, the lenders who offer installment payments give two to three payments, but due to the manageable loan size this often makes a big difference. Lenders base payday advances on the borrower's paycheck. They normally charge a percentage of one paycheck. So if a borrower earns $1,000 a week and gets a $500 cash advance, he pays the $500 back with smaller payments over two or three paydays instead of one lump sum on the next payday. Installments can keep borrowers from having to roll the loans over and occur late fees or extra interest charges over the life of their loans. "We constantly seek new and innovative lenders in the payday niche," says Mr. Miller. Better loan products from our network of lenders means more satisfied users for our website http://www.cashadvanceusa.net/payday-advance.html. He continued, "the installment feature enhances the payday loan product and draws in more borrowers to our loan-finding site. We find that lenders willing to try new approaches end up drawing in more customers than ones who don't innovate. Of course, some borrowers will continue to go for the lump sum payment, but by offering multiple payments lenders can find customers that might not otherwise choose to borrow - and that benefits the borrower, the lender and caashadavanceusa.net. For more information or to find payday loans with installmentpayments, visit http://www.cashadvanceusa.net/. Media Contact: Mark Miller, Cash Advance USA Ltd, (512) 571-3828, info@cashadvanceusa.net News distributed by PR Newswire iReach: https://ireach.prnewswire.com