CashLand Loans is a lending company that has been operating for over 15 years in the United States. They first began operations in Ohio, but it wasn’t for giving loans. Instead, they focused on being a quick check cashing company. After that, they were able to expand their business due to their loyal customers and positive reviews. CashLand focuses on providing instant credit lines for people in need. They are not a payday loan company but instead provide credit loans.
We’ve checked their company and looked at all the positives and negatives. To get a better understanding if CashLand is suitable for you, we’ll give you a review. Here’s what we’ve found about the company;
Credit Loan Lines
Instead of providing instant payday loans, they focus on giving you a line of credit. You can use the credit line for anything you desire. There are no limits to what you can purchase. It works similarly to a credit card.
At the end of the month, you will be billed a minimum payment. There’s no set limit for customers. This is good for people lacking credit or doesn’t have a steady income. Although, you may not be approved for an extensive credit line if you can’t provide stable income.
What’s It Like Borrowing Funds From Cashland Loans?
Borrowing money from CashLand Loans is a bit different from other types of loan companies. Instead of getting funds deposited into your account, you can withdraw money from a credit line.
As long as you pay off the balance, you can continue using the credit line. You won’t have to reapply for a new credit loan. So, in a way, it works similarly to a credit card.
To apply, head to the CashLand Loans website and input your personal information. Once your application is approved, you will be sent a contract and then given a credit line account. Payments are due monthly, but you can pay off the credit line whenever you like.
Is There a Maximum and Minimum Amount You Can Borrow at Cashland?
The credit line doesn’t have a set maximum or minimum. Instead, the balance will decrease or increase based on the funds borrowed or repaid. You can get approved for higher funds if you keep using the account and pay on time each month.
Are There Any Associated Rates or Fees with Cashland?
CashLand Loans is a loan company, so expect them to have extra fees and rates. For every transaction, there will be a 20% transaction fee with a 9% APR. Compared to payday loans, you’re getting a good deal on the credit line.
Nonpayment and Late-Payment Consequences at Cashland
CashLoan works similarly to a credit card company. If you don’t pay your minimum payments, your account will be reported as delinquent. Additional fees will be added to your credit line, informing you of the credit bureau.
Is CashLand Loans A Legit Company?
Yes, CashLand is a legitimate loan company. They have a storefront located in Ohio. Plus, further research has shown us that companies such as the Better Business Bureau have no complaints about the company.
How to Apply Step-By-Step for a Cashland Loan
Before you can even apply to a loan, you must live in an eligible state. Aside from that, Cashland Loans may have other criteria that you need to meet; otherwise, your application will get rejected. We’ve highlighted those requirements in the next section.
Here are the next steps you need to take to apply for a loan from Cashland Loans;
- Head to the Cashland Loans website and click on their “apply for a loan now!” button.
- From there, you’ll have to create an account and provide some minor personal details.
- From there, you will have to wait for a Cashland Loan representative to contact you.
- Once you hear from them, they will go over the proposed terms and details with you. This is when you can request the type of loan and loan amount.
- After that, you will need to wait up until three business days for the credit line to be up and upon. Sometimes the line may be qualified for the same-day. However, this requires that you pass all their minimum requirements and criteria.
- Once the funds are deposited into your account, your repayment schedule will begin. Keep up with payments and contact the company any time you think you may miss a payment.