You can apply for a Speedy Cash loan online, over the phone, or at one of its storefront locations across the country. Speedy Cash offers payday loans, title loans, lines of credit, and installment loans. In this review, we’ll focus on its personal loans, which Speedy Cash refers to as installment loans. how borrow Money From Speedy Cash?
High-interest rates
High interest rates are common for personal installment loans, but Speedy Cash’s rates are higher than average. If you have to borrow money quickly and can’t get approved through a credit card or another lender, it might be your only option.
Speedy Cash offers to finance for all kinds of scenarios. You can finance anything from vacations to Christmas gifts to home repairs or medical bills. When you apply, simply indicate what the money will be used for, how much you want to borrow, and when you need it to ensure the timely processing of your loan application. You should expect that the amount offered may be more than enough for that one-time expense or purchase due to additional fees associated with each type of loan.
May have an origination fee
Speedy Cash charges an origination fee for each personal loan, which is generally somewhere between $20 and $45. If you borrow $200, for instance, there might be a $25 fee in addition to the finance charge on your monthly statement.
If you are applying online or over the phone for a Speedy Cash loan, you will need to provide general contact information such as name and address; income; employment history; social security number; date of birth; any other loans you currently have outstanding; and banking information (account numbers and routing numbers).
Potentially fast funding
Speedy Cash is federally regulated and therefore must abide by the guidelines of the Federal Deposit Insurance Corporation (FDIC). Speedy Cash guarantees that upon receipt of your loan application, it will conduct a preliminary assessment to determine if you qualify for one of its loans. If approved, funding can be made available in as little as 24 hours.
Limited availability
Speedy Cash does not accept applications from all states; it only services borrowers in the states of Arkansas, Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Michigan, Missouri, Nebraska (Omaha), Nevada , New Mexico (Las Cruces and Albuquerque), Ohio (Cincinnati and Dayton; Columbus; Norwood and Akron) Oklahoma (Oklahoma City and Tulsa), Oregon (Portland and Eugene), Texas (Dallas Fort Worth and Houston).
Terms are inconsistent with Speed Cash
Speedy Cash offers varying terms for its personal loan products, ranging from 12 months to 60 months. However, if you are approved for one of Speedy Cash’s installment loans, you can expect to receive an offer with a term anywhere between six and 24 months.
It is important to note that you will be required to pay interest on any outstanding balance until the entire loan has been repaid in full. If your finance charge exceeds $1 on your statement date, Speedy Cash may carry over your balance and apply it to the next month’s billing statement.
Who is a Speedy Cash loan good for?
Speedy Cash offers its customers several borrowing options. If you need to borrow money quickly and have bad credit, Speedy Cash may be the lender for you. To apply online or by phone, just fill out Speedy Cash’s short application. You can receive an estimate of your loan amount within minutes.
How to apply with Speedy Cash
The application process for a Speedy Cash loan is fairly straightforward. Here’s the personal information you’ll need when you apply.
- Your full name and birthdate
- Valid ID
- Home address
- Steady source of income
- Open bank account
Speedy Cash will perform a credit check once you apply — which could negatively affect your credit scores by a few points.
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