Speedy Cash loans are for when you need a loan fast. Speedy Cash has fast loans for when you need cash. But you must consider the details of Speedy Cash loans before you apply.

Pros and Cons

Pros

1. No Prepayment Penalty. You can pay off your Speedy Cash loan early without any extra charge. You can save on interest if you can pay off the loan early.

2. Fast Funding. Speedy Cash is known for fast funding. If you need cash fast, Speedy Cash is a good option. Qualified borrowers can get funds the same day they apply which is great during emergencies.

3. Multiple Ways to Apply. Speedy Cash has multiple ways to apply, online, in-store and over the phone. This gives you options and convenience, so you can choose what works best for you.

Cons

1. High Interest Rates. One of the downsides of Speedy Cash loans is the high interest rates. These rates will make the loan more expensive than other options especially if you have bad credit.

2. May Charge an Origination Fee. Some Speedy Cash loans have an origination fee which is a charge added to the loan amount. This fee will increase the overall cost of the loan and reduce the amount you will receive.

3. Limited Availability. Speedy Cash loans are not available in all areas which can be a limitation if you need a quick loan and you don’t live in an area where they operate.

How to Apply for a Speedy Cash Loan?

1. Choose Your Application Method. Apply online or in-store whichever is convenient for you.

2. Fill Out The Application. Fill out the application form and provide all required personal and financial information.

3. Have Documents Ready. Make sure you have the following documents government-Issued ID, proof of income and bank account information.

4. Submit Application. After filling out the application and providing all required documents, submit.

5. Wait For Approval. Review process is fast and you will be notified soon.

Conditions and Requirements

Conditions

1. Minimum and Maximum Loan Amounts. You can borrow as low as $50 from Speedy Cash which is good for small, immediate expenses. The maximum amount you can borrow is $3,000 which is good for bigger financial emergencies or unexpected expenses.

2. APR (Annual Percentage Rate). The APR for Speedy Cash loans is 132% to 680.7%. This high APR is the cost of borrowing which can be expensive especially if you have bad credit.

3. Loan Term. Speedy Cash loans have terms from 1 month to 18 months. This gives you flexibility to choose a term that fits your situation but the high APR means the cost will escalate fast if you choose longer terms.

Requirements

1. Age. You must be 18 or 19 years old to apply.

2. Residency. You must be a resident of the state where you are applying for the loan.

3. Government-Issued ID. Valid ID such as driver’s license or passport to verify your identity.

4. Proof Of Income. Pay stubs or bank statements to prove your income.

5. Active Checking Account. You must have an active checking account where the loan funds will be deposited and from where payments will be withdrawn.

How to Choose a Lender

1. Confirm Licensing. Make sure the lender is licensed in your state. Verify this information with your state regulator or attorney general. This is important to avoid illegal lenders and to protect your consumer rights.

2. Check Membership In Reputable Associations. Look for lenders that are members of reputable associations such as Community Financial Services Association of America. Membership in these organizations means they are reliable and follow industry standards.

3. Review Terms And Conditions. Review all the terms and conditions of the loan contract. Read the fine print to understand the lender’s policies, fees and your obligations as a borrower.

4. Examine Interest Rates And Total Loan Cost. Examine the interest rates on the loan and make sure your contract has a detailed breakdown of the total cost of the loan. This will help you understand the full financial impact of borrowing and compare offers from different lenders.

5. Understand Your Right Of Rescission. Take advantage of your right of rescission which is usually 3 days after signing the agreement. Or use the “cooling-off” period to review the contract thoroughly and make an informed decision before committing to the loan.

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