Reviewed by Latoria Williams Want to get a loan from Speedy Cash but don’t know anything about this service? 1F Cash Advance decided to provide you with the needed information to help you make an informed decision.
Speedy Cash is a direct lender that provides its customers with various financial services, including online payday loans. Curo Financial Technologies owns it and has been in business for almost 20 years, beginning with a single store in Riverside, California. Currently, you can find Speedy Cash locations in over 28 states. While payday loans are the company’s principal product, it offers installment loans, title loans, cash advances, and prepaid debit cards.
Pros:
- There is no prepayment penalty.
- You can get rapid cash within one business day.
- Possibility to set automatic payments.
- Perfect for emergency expenses.
Cons:
- Expect high interest rates.
- An origination fee may be charged.
- There is a limited state availability.
Things to Know about a Speedy Cash Loan
You can apply for a Speedy Cash loan online, by phone, or in person at one of the company’s locations nationwide. Here are other features that you should consider:
Get Quick Funding
If you apply in person and your request is approved, the loan funds may be put straight into your bank account on the same business day. It could be helpful if you have an unexpected bill, such as medical expenses or car repair.
High-Interest Rates
As Speedy Cash offers payday loans, their interest rates might have triple digits. As a result, you should only accept a Speedy Cash loan if you have no other options and it is a severe emergency.
Several States Availability
The loan products from Speedy Cash are only available in some states. For example, you can’t get a payday cash advance in a state where these loan products aren’t legal. However, if you’re from those 23 states (including California, Wisconsin, and Texas), you can get these short-term loans.
Origination Fee Possibility
Some states have an origination fee, a one-time charge for processing your loan application. Contact Speedy Cash for more information regarding origination fees for personal loans.
Different Repayment Terms
The terms and conditions of Speedy Cash loans may vary by state and loan products. For example, an installment loan is repaid with fixed monthly payments, while payday loans are covered with one lump sum.
Who Are Speedy Cash Loans Good For?
Given its limited availability, a Speedy Cash loan may be a helpful option only if you want to borrow a small sum, but remember that your state might have loan amount restrictions. Also, if you live in one of the states where payday and installment loans are available, you might use this service.
How Much Does a Speedy Cash Loan Cost?
The annual percentage rates of Speedy Cash vary depending on the loan type, the repayment term you choose, and the state you live in. For example, the APR for a $200 payday loan in California is around 460% for a 14-day loan duration. If you pay off the loan on a set repayment schedule, you will pay $35.30 in finance costs, which is considered a fixed interest rate.
Requirements to Apply with Speedy Cash
Here is what you must provide while filling out the loan request form:
- Your complete name and date of birth;
- Valid identification card;
- Your physical address;
- Source of steady income;
- Bank account with direct deposit option.
Speedy Cash Alternatives
Payday loans are not ideal for everyone because they come with various risks you cannot afford. Here are more choices to consider if you can’t solve your financial problems and need to borrow money.
Payday Alternative Loans (PALs)
Federal credit unions offer payday alternative loans to their members, and these fee-capped emergency cash options are available to them. They may be eligible because of their longer payback schedules and more relaxed credit score criteria.
Spotloan
Spotloan is a different way to get emergency cash without dealing with poor customer service. It’s a cash advance service that allows you to borrow money against your next paycheck with low fees and interest rates. Payday loans can be obtained in as little as one business day if you apply online using your smartphone or laptop.
Advance America
Advance America has been a lender of payday loans, installment loans, title loans, and personal lines of credit since 1997. They built over 870 locations in 23 states for consumers who need financial help for unexpected expenses.
Speedy Cash Reviews – Conclusion
While Speedy Cash looks like a perfect solution for you, take your time to consider other options before committing. Its high-interest rates should make you think twice about applying for a payday loan from Speedy Cash. We suggest you read the customer reviews and make an informed decision before submitting the loan application form.
Asking for money from friends or family might ease your financial issues. Sometimes, shopping around for better terms and conditions from other online lenders can change your mind when you need extra cash as soon as possible. If you need help with finding such companies, let us know!
FAQs
Is Speedy Cash a legitimate company?
Speedy Cash is a legitimate lender that helps consumers get suitable financial products. You can check their reviews on Trustpilot or their website. Curo Financial Technologies owns the company.
How do Speedy Cash loans work?
You apply for a loan on the Speedy Cash website and await approval. If your loan request was approved, you’ll receive your loan on the next business day in your bank account.
Does applying with Speedy Cash affect my credit?
Applying won’t affect your credit score, but if you default on a Speedy Cash loan, your credit score may suffer because the company will report your late payments to the major credit bureaus.
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