Are you looking for a loan company to approve quick funds? Cash America Loans is a company that’s been operating since 1983. They are owned and operated by First Cash Inc., which started off in Jersey City, NJ. The company is focused on getting fast cash to people who are in need. Their requirements are set low, which allows people who have bad credit or low income to apply. If you need to get a small or large payment, you can expect them to help you swiftly.
When it comes to finding a suitable loan for you, it’s important to stay objective. We want to ensure that the money you borrow from is legitimate, and you can pay it back. So, we’ve taken the time to review Cash America Loans.
Payday loans can help you get money quickly for a short-term solution. They often have high-interest rates, but it ensures that you can get your loan quickly approved in the case of an emergency. This could mean paying your rent or bills on time.
A payday loan is generally paid back either on your next paycheck or set at a monthly payback date. You should only borrow as much as you can afford. Remember that payday loans generally come with high-interest rates so that the amount may be a lot.
What’s the Borrowing Process Like for Cash America Loans?
Borrowing from Cash America Loans is similar to other lenders. You will need to first live in an eligible state to get a loan from them. If you do live in an available state, you can apply for a loan and specify the amount of money.
The application process only takes a few minutes to fill out if you know what you’re doing. It’s good to have personal documents on hand to help make the process go swiftly. Otherwise, it could take you up to an hour to apply online.
Once you submit your application, you’ll need to wait until Cash America approves or denies your request. If they accept your request, then you will be able to read over their terms and conditions. This will highlight the terms of the loan and repayments. Once you sign, you are legally responsible for everything stated in the loan. So, read carefully.
Now that you’ve signed, they will send over the funds within 1-2 days. Most times, it’s the same-day delivery. However, if you’re applying on the weekend then you may have to wait until their next business day.
What Are the Minimum and Maximum Fund Amounts?
The amount varies depending on what state you live in. For a general amount that you may see, it can range from the low end of $100. Or, it can be as high as $1,500.
Of course, the maximum amount doesn’t mean everyone will qualify for it. Instead, you will get proposed funds based on your monthly income. This ensures you will be able to pay the loan back with interest.
Are There Extra Fees or Added Interest Associated with Cash America Loans?
Cash America Loans does have a few associated fees. The fee is for the loan amount. It ranges from $13 to $102, depending on how big a loan you take out. This fee is per every $100 that is borrowed.
They don’t use any APR, which can cause a lot of interest on your loan. However, this does mean that you’ll have a fixed amount on how much you owe. This fee also changes from state to state, so it’s essential to see how much it will be in your area.
Nonpayment & Late Payment Penalties at Cash America
If you can’t make a payment on your loan, then CashAmerica will do their best to help establish better payment arrangements. However, they are committed to getting their money and collateral on time.
If you miss a payment, you won’t get reported to a credit bureau, but you will be put into delinquency and have additional late fees.