There are several national lenders who offer installment loans on specific items.   Many regional banks and credit unions also offer installment loan options for borrowers with good credit histories. Some states have laws that limit the terms under which an installment loan can be issued by certain financial institutions, while some states leave it up to the decision of each lender.  For example, Texas has very few limits placed on the interest rates that money lenders can charge, while in Massachusetts there are strict limits on interest rates.  Each state's legislature determines these limitations.