|Basic requirement to get the loan|
AL, AK, AZ, CA, CO, DC, DE, HI, ID, IL, KS, LA, MH, MS, MO, NV, NM, ND, OH, OK, OR, RI, SC, TN, TX, UT, VA, WA, WI, WY
|APR up to||680.7%|
|Time to money||Next business day or instantly at a store|
|Funding Method||Direct deposit, cash or funds loaded to a prepaid card|
Speedy Cash Loans: Sensible Loans for Emergencies
Speedy Cash Loans began operating in 1997, and currently, they have hundreds of physical loan stores in more than 14 states. Borrowers can take out loans by visiting any of their locations or by making applications through their website. States with both online and in-store services are 14, but the lender has plans to expand into new locations. To know if they serve your state, check out their “Find a Store Page.”
Speedy Cash Review
There are several loan options available from the lender. These include:
1) Cash advance loans
It’s estimated that 12 million Americans use this loan product every year. The standard max loan amount is $1,500 with Speedy Cash Loan, but the lending regulations in your state might not allow you to borrow this much. In Alaska, for instance, the company offers a max loan amount of $500 with an average term of 14 days.
2) Speedy Cash Installment Loans
Most loans you’ll encounter are paid back in installments, for instance, personal unsecured loans or mortgage loans. Speedy Cash services also include personal installment loans that don’t require extensive vetting of your credit history. What’s assessed is your proof of income, which requires that you earn a stable paycheck on a monthly or bi-weekly basis.
The loan structure changes from state to state. For instance, in Nevada, residents can receive loans of up to $1,500 with a repayment term of up to 90 days or three months. The Speedy Cash interest rate for installment loans is about 438.79% for Nevada.
Residents from Mississippi can also borrow up to $1,500, while those from Illinois can access up to $2,500. The amount differs since the lender is licensed at a state and sometimes city level.
3) Title Loans
Auto title loans are not part of Speedy Cash online loans. Applications are done physically at one of their stores because you’ll need to present the car and title in person. The loan amount will be a percentage of your car’s value, but you must also demonstrate that your income is enough to support the monthly payments.
4) Line of Credit
With a line of credit open with this lender, you’ll have the ability to borrow up to $5,000 in some states like Missouri. If you’re curious how this product works, the lender is simply saying, “You have $1,000 available to borrow, take out as much as you want, and get charged interest only on what you use.” It’s convenient, and you avoid borrowing more than you need.
Speedy Cash Review of Key Benefits
- Multiple Ways to Receive Funds
You can receive a Speedy cash payment in several ways. There is the direct deposit option, where the cash is deposited in your bank account electronically via ACH payments.
Secondly, Speedy Cash offers direct deposits to debit cards. You can choose this option when you sign up, and you’ll receive the cash instantly after signing the loan contract electronically. Only a handful of lenders offer this service.
Thirdly, and also a big plus for Speedy Cash, you can collect your funds by walking into their store. You’ll need to present your photo ID for identity verification. There is also no need to visit an ATM or your bank’s branch, and same-day funding is possible.
- Fast Loan Process
If time is of the essence, you’ll enjoy a simple application process with this lender. Their site is so simple to use, and you may hardly need to speak to a representative to figure your way around. Funding decisions are also made quickly, just minutes after your application is received. You can also sign up with your Facebook account.
- Experienced Lender
They have over 20 years’ worth of experience in offering credit services. They also take measures to protect the borrower’s information, by protecting their website with standard encryption and guarding it against attacks using services from Norton and McAfee. They are also an Online Lenders Alliance member.
Speedy Cash Apply Online
You can apply for installment and cash loans on the web. Visit their website and click the “Apply Now” button. Next, choose your state to see the loan options available to you. For instance, if you’re in Nevada you have both options available.
To know if they have a store near you, contact the Speedy Cash Customer Service team at 1-888-333-1360. You can also see available store locations based on your location by clicking the location icon from the main menu bar.