Digital is where it’s at, and that includes loans! Financial technology companies that provide online personal loans opened 49.4% of unsecured loans in March 2019.<a href="#one"><sup></sup></a> The convenience and speed of [online loans](https://www.aviocredit.com/online-loans/) are big draws to the process. But, what does that process entail and how do you get a loan online? Read on to learn more about Avío Credit online loans.
## What is an online loan?
In basic terms, an online loan is any type of loan completed online through a personal computer, laptop or mobile device. From application to funding, you don’t even have to leave your couch to borrow funds.
Online loan perks include:
* Simple and convenient.
* Fast application process, lending decisions and funding.
* There aren’t as many restrictions as borrowing from a traditional financial institution.
## Types of online loans with Avío Credit
Here are our loans you can apply for online. Make sure to read carefully and figure out which best suits your needs.
### Installment Loans
Apply for your Installment Loan and get a quick lending decision. Installment Loans are typically a larger amount than a Payday Loan. If approved, you can choose the amount you’d like to receive up to your limit. Then, repay in installments or in full to save on interest.
### Lines of Credit
Apply for your Line of Credit with ease. A Line of Credit is a revolving credit account, much like a credit card. If approved, you can choose the amount you’d like to receive up to your limit. And you don’t have to take all the approved funds at once. You’ll only be charged interest for the money you use. Then, repay in installments or all at once. With Avío Credit, your Line of Credit will stay open until you close it or if it’s dormant for one year, we’ll close it for you.
### Unsecured loans
The above loans are unsecured loans which means you don’t have collateral to secure your loan. This kind of loan usually comes with a higher interest rate, but the upside is you receive your funds quickly to head off your financial hurdle.<a href="#two"><sup></sup></a> And we offer friendly, helpful service.
## How do online loans work?
Online lending is designed to be as quick and uncomplicated as possible. It's all about convenience for the Customer. With traditional lending practices, your loan process could take longer.<a href="#three"><sup></sup></a>But with Avío Credit, you’ll receive a fast decision.
Here’s how Avío Credit online loans work:
1. Go to our [Avío Credit](https://secure.aviocredit.com/LoanApplication/Account) website.
1. Complete our online application.
1. Get a fast lending decision.
1. If you’re approved, choose your loan amount up to your approved credit limit.
1. Receive your funds.
1. Make timely payments.
## How to apply for loans online
Now that you have some insight on how these loans work, let’s get into more detail! To apply for an online loan, you’ll of course need a mobile device or computer. Make it easier on yourself and gather info (below) you’ll need to reference.
Avío Credit’s Customer Service team is ready and willing to answer questions or if you need additional help. When you apply for an [Installment Loan](https://www.aviocredit.com/installment-loans/) online or [Line of Credit](https://www.aviocredit.com/line-of-credit/) online with us, you’ll need this info:
* Be at least 18 years old
* Email address
* Checking account
* Valid ID
## Online loan uses
So, what can you use your online loan funds for? Just about anything! Basically, if you need fast cash to pay for something, an online loan could help you cover the cost. The beauty of an Avío Credit loan is that there’s less hassle than applying for a loan with a traditional bank. And you get your funds quickly.
Loan use ideas:
* If your car needs repair.
* A pipe bursts in your home (this happened to me!).
* Your kid’s sports fees sneaked up on you.
## How much can I borrow?
Many factors come into play regarding how much money you may borrow. For certain types of loans, there is a maximum amount. We offer up to $5,000 for our Installment Loans and Lines of Credit, each. But that doesn’t necessarily mean that you’ll be approved for that amount. After you submit your application, we look at the following items. Though, this is not an all-inclusive list:
* Credit rating
* Bank account
* Current pay stub
* Social Security number
* Home address
## Things to consider before getting an online loan with Avio Credit
When considering an online loan, there are several questions to ask yourself before you apply. Here are some ideas you may want to think about, so you’re prepared for your credit journey:
* How much do I need?
* How quickly do I need the funds?
* Can I pay it back?
* How long will it take to pay off?
* What is the interest rate?
* How do I make payments on my loan?
* Do I have other choices than a loan?
## Is an online loan in your future?
Taking on a loan can be achieved with ease by applying online, but that doesn’t mean it’s a decision to take lightly. An online loan could help you with financial surprises and quickly supply funds when you’re in a bind. When you apply for a loan with Avío Credit you’ll receive transparent information, and our Customer Service team will be happy to help.
<div id="one"><sup></sup> Staff. (2019, September 24). *Experian study finds fintechs more than doubled personal loan market-share in four years.* Retrieved from: <a href="https://www.experianplc.com/media/latest-news/2019/fintechs-more-than-doubled-personal-loan-market-share-in-four-years/">https://www.experianplc.com/media/latest-news/2019/fintechs-more-than-doubled-personal-loan-market-share-in-four-years/</a></div>
<div id="two"><sup></sup> Sato, G. (2020, October 15). *Secured vs. Unsecured Loans: What You Need to Know.* Retrieved from: <a href="https://www.experian.com/blogs/ask-experian/secured-vs-unsecured-loans-what-you-should-know/">https://www.experian.com/blogs/ask-experian/secured-vs-unsecured-loans-what-you-should-know/</a></div>
<div id="three"><sup></sup> DeNicola, L. (2020, July 3). *How Do Online Loans Work?* Retrieved from: <a href="https://www.experian.com/blogs/ask-experian/how-do-online-loans-work/">https://www.experian.com/blogs/ask-experian/how-do-online-loans-work/</a></div>