An installment loan is a loan in which there are a fix number of scheduled payments in due course. Many special types of loans are installment loans, including auto loans and mortgages. An installment loan can last for many months and payments are evenly spread out over the period of the loan. So! If an emergency expense just popped up, or you're short on money to covering your bills this month, don’t stress - an installment loan from Installmentloansontario.Ca may be for you.