Usually the defining terms here are what the customer can repay and the schedule you, the lender, will accept.
To be clear, when you say installment note, you mean payments? Some lenders I have heard refer to "installment" as in "consumer", vs. commercial or real estate.
As noted, check your state laws and your internal policy.
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell