|Basic requirement to get the loan|
|18 or older Verifiable and steady source of income An active checking account US citizen or permanent resident|
|APR up to||474.51%|
|Time to money||Same day if done before 10:30am CT|
|Funding Method||Bank account|
CashNet USA: Access Payday, Installment & Line of Credit
Need cash to get out of a tight spot? Don’t have time to apply for a bank loan and endure long wait times? Getting a personal loan for your temporary hitch is easy thanks to CashNet USA. They don’t operate in all states at the moment. Non-operational states as of October 2019 are 23.
What you need to know about Cashnet USA
First off, they have been offering loans for over 15 years now from 2004. Secondly, the brand is owned by Enova International, INC. The company is publicly traded with numerous brands under its wing, including Headway Capital, Net Credit, Quick Quid, and more. What’s more, they have served over 5 million customers in their years of operation.
CashNet USA Review of Loan Products
CashNet offers 3 products:
1) Payday Loans
These small-dollar cash loans allow you to access small sums and repay them in one lump sum payment after 8 to 35 days. CashNet doesn’t offer payday loans in all states.
In fact, various restrictions on cash loans in each state makes the max loan amount and APRs different. For instance, in Minnesota, the max loan amount is $300. The finance charge is $15 for an amount between $75 — $250 and increases to $25 for amounts above $250.
In Nevada, the max loan amount is $850 with a $5 verification fee, and a $10 finance charge for every $100 borrowed.
CashNetUSA offers cash loans in:
- California, up to $225;
- Maine, up to $300;
- Oregon, up to $300 or 25% of net monthly income (whichever is lesser);
- Alaska, Alabama, Florida, Hawaii, Oklahoma & North Dakota, up to $500;
- Michigan, up to $600;
- Rhode Island, Nevada, & Wyoming up to $1500 or 25% of the borrower’s gross monthly income.
Note that these rates are subject to change. Also, first-time borrowers may not get the max amount. It’s advisable to inquire or apply to see your actual terms. Coverage may also change.
2) Line of Credit
It works like a credit card. You have an available balance and can take out funds until you exhaust your credit line. CashNetUSA offers this product in Idaho, Kansas, Louisiana, South Carolina, Utah, Virginia, Wisconsin, and Alabama.
3) Installment Loans
Installment loans put more money in your hands than cash loans. The repayment is over many months, with CashNetUSA offering max terms of 2 years (24 months).
The loan’s terms and loan amounts also differ from state to state. In California, the loan amount is between $2600 to $3500. The APR ranges from 129% to 191% with a loan term of 18 to 24 months. Returning customers can get discounted APR rates. There are also no penalties for prepayments.
CashNetUSA offers installment-type loans in the following states:
- Delaware, max $3500;
- New Mexico, max $3500;
- Illinois, max $2500;
- Mississippi, max $2100;
- Wisconsin, max $1000.
In Texas, CashNetUSA doesn’t act as a direct lender but connects borrowers to third-party lenders. Their CAB installment loan offers up to $2400. Tennessee residents can access flex loans from the company.
CashNetUSA Review Key Takeaways
- Experienced lender;
- Clear terms and fees;
- Same business day funding available;
- No penalties for early payments.