FAQ

Most Common Questions

Does it cost anything to use CashAmericaNearMe?

Submitting your information on our online marketplace is free of charge. When a lender decides to work with you, they will pay us for connecting you two together. We do not have access to any data that would allow us to compare or evaluate any offers from potential lenders. Be sure to closely review each offer you receive from a lender and ensure that it meets your needs and that you comprehend all of the terms.

How soon can I get my money?

If you accept a loan offer from a lender, your money could be deposited in your account within 24 hours*. However, if you accept the offer on a non-business day, like a weekend or holiday, it may take longer for the funds to become available. This time frame is subject to certain conditions and may vary.

How long does it take to use CashAmericaNearMe?

By completing our form today, you could have a decision from a lender within minutes after submitting your information. The process generally takes about five minutes to complete – even less if you are an existing customer. If you are offered a loan and accept it immediately, the funds may be deposited directly into your account in as little as 24 hours.*

How will I know if a lender decides to work with me?

Once your information is submitted, it will be reviewed by potential lenders to find out if they wish to work with you. You will be redirected to their website if a lender wishes to partner with you. On that page, you can review and accept the terms and conditions of the loan offer should one be made available.

What are the terms and details of my loan?

CashAmericaNearMe is not a lender, so we do not have that information. After you find a lender to work with, they will provide you with the details of your loan offer, including interest rate, repayment dates, finance charges, and more. There are various types of loans available from different lenders; it is up to you whether you want to accept the offer. If you are unhappy with the terms, you can decline and look for another lender.

Do I qualify?

Can I still qualify with bad credit?

To qualify for a short-term loan, you must generally be employed or receive a steady income, make at least $800 per month, be eighteen years of age or older, reside in the United States, and possess an active checking account. Additional requirements may also be necessary depending on the lender.

Can I still qualify if I’m on a fixed income?

The process is straightforward for those looking to qualify for a short-term loan. To be eligible, applicants must be 18 years old or older, a resident of the United States, as well as have an active checking account. Additionally, all applicants must earn at least $800 in monthly income from either employment or other regular sources. Certain lenders may have additional requirements.

Can I still qualify if I’m self-employed?

To qualify for a short-term loan, you must be employed or receiving consistent income that is at least $800 per month. You must also be 18 years or older and a U.S. resident with an active checking account. Other requirements may vary depending on the lender. When providing your employer information, including your company’s legal name and the primary business phone number.

Additional Questions

How is my information protected?

We employ AES256-bit encryption to safeguard all data, with daily scans of our site carried out by TrustedSite for potential security risks.

What can I use my loan for?

You can use your funds for various purposes, such as special occasions like weddings and holidays, unexpected expenses such as car repairs or medical bills, and virtually anything else that requires added financial support.

I have a job and also receive benefits. Which form of income should I use on my form?

Some lenders may accept social security, pension, disability, or other benefits as qualifying income if you receive a minimum of $800 each month and satisfy certain criteria. The specific conditions for loan approval will vary by lender.

Do lenders offer loans over $5,000?*

Short-term lenders typically provide loans of up to $5,000. Responsible borrowing can allow borrowers to qualify for additional loans if needed.

Do social security, pension, disability, and other benefits qualify as income?

Suppose you have an income of at least $800 per month from social security, a pension, disability benefits, or other sources and meet other requirements set by your chosen lender. In that case, you may qualify for a loan. However, please remember that each lender’s criteria vary, and additional conditions may apply.

I am still waiting to receive an email response about my loan. What do I do?

If you don’t see an email from your lender or us in your inbox, be sure to check your “Junk Email,” “Promotions,” or “Spam” folder. If it’s not there either, please contact us at [email protected], and we will get back to you as soon as possible.

If CashAmericaNearMe isn’t a lender, why should I use your website?

cashamericanearme.com is a convenient and secure resource that provides a platform for borrowers and lenders to find each other. Our website makes it quick and simple to access loan offers without waiting in line or searching through multiple websites. We provide a much faster and easier way of finding the loan you need – submit your information on CashAmericaNearMe and receive offers from lenders in no time. Forget about spending countless hours applying individually on various websites – we make the lending process simpler and quicker!

Is my information entered on CashAmericaNearMe secure?

We take your privacy and the security of your data seriously. To learn more about what we do with the information you provide us and how it is secured, please read our Privacy Policy.

What happens if I must arrive late for payment, do not pay the loan back, or default?

If you cannot make a full repayment or have a late payment, it may incur additional charges, and your lender could take collection actions. To avoid this, please get in touch with your lender immediately if there is any possibility of missing a payment. We suggest using short-term loans responsibly and only accepting the loan if you are sure you can repay it per the lender’s terms. Go to our loan fees and repayment page to learn more about late or skipped payments. Please consult your lender to find out how they manage delayed payments, non-payments, or loan defaults.

What if I need to get my employer’s phone number and address?

Lenders typically ask for your employer’s name and contact number before providing you with a loan offer. However, you can provide the business address on our website without providing the business address.

Why do you need my banking information before I find a lender?

Lenders who use cashamericanearme.com can deposit funds directly into a borrower’s bank account free of charge. This service is free for borrowers and allows them to quickly access loan offers without incurring fees. However, before accepting the offer, lenders must verify that they can send the funds via direct deposit.

Why do you need my employer’s phone number?

CashAmericaNearMe is not a lender, and we won’t contact your employer. After you connect with a lender, they may call the number you give them to confirm your employment, but they will generally not ask about your finances. Therefore, you must accurately provide your employer’s primary phone number when filling out the form.

Can I pick up my payments? When is the first payment due?

CashAmericaNearMe is not a lender and cannot provide information regarding your loan. However, if you have been offered a loan, contacting the lender directly with any payment questions before agreeing to any terms is important. More information about fees and repayment can be found on our loan fees and repayment page.

Can I get a loan if I have a savings account? What if I get paid with a prepaid debit card?

To qualify for a loan, most lenders will require you to have a valid checking account where they can deposit the funds directly. Unfortunately, depositing the loan amount into a savings account or on a prepaid debit card is impossible.

Can I specify the length of the loan?

When a lender offers you a loan, the paperwork should include all pertinent details, such as dates for repayment. You have the right to accept or decline any offers you receive based on your judgment and need not worry if it does not suit your requirements. If this is the case, return to us and resubmit your application to see if a different loan provider can assist. Every lender has different terms and conditions, so it is essential that you read through them carefully before making any commitments.

Payday loans most common questions

What are payday loans?

A payday loan is a short-term, unsecured loan with typically high-interest rates. The term “payday” derives from the borrower giving the lender a postdated check for their salary on payday and receiving some of that money in cash upfront from the lender. These loans are typically used to cover emergency expenses, usually ranging from $100 to $1,000. Repayment is generally due on the borrower’s next payday or within 30 days of taking out the loan. Payday loans are primarily intended for those without strong credit histories or other financial options available to them. As they can be expensive, they should only be used for emergencies.

How to get a payday loan online?

To obtain a payday loan, you must fill out an application form with either an online payday lender or at a physical store. If approved, you’ll have your loan proceeds delivered to your debit card (if eligible) or directly deposited into your bank account by the next business day. If you’d rather apply in-store, all you need to do is search locally to find a store near you and receive an instant decision. If approved, you’ll be able to walk out with cash. You can locate online payday lenders by searching on Google and finding storefront payday loan locations through local business directories such as Google Maps. Each lender may have different criteria and processes for requesting and approving a loan.

What do I need and how do I qualify for a payday loan?

To qualify for a payday loan, you must typically have an active bank or credit union account, proof of income from a job or other source, valid identification and be at least 18 years old.

When can I apply for an online payday loan?

Online payday loan applications can be submitted 24/7. Although some lenders may have specific restrictions and requirements, most people who meet the minimum eligibility criteria can apply for an online payday loan. Applying is straightforward, often taking just a few minutes to apply. Before applying, it’s important to understand the terms, conditions, applicable fees, and applicable laws in your state.

How long does it take to get an online payday loan?

Getting an online payday loan is typically a very fast process. The time to get your funds can vary depending on the lender and the loan you are applying for. Most lenders will approve applications within minutes and deposit the funds into your account on the same day or within one business day.

What do I do If I keep getting denied for payday loans?

If you have difficulty getting approval for a payday loan, this may be due to several factors. These can include not meeting the lender’s minimum requirements (e.g., minimum income), lack of proof of regular or recent income, absence of an open checking account, having unpaid payday loans, too many overdrafts in your bank account, or an inability to verify the information provided on the loan application.Review the lending criteria that most payday lenders require and ensure that you meet all requirements. Make sure any information provided is accurate and up-to-date. Direct lenders will also look at your credit score, so look into ways of improving it if necessary.

What if I do not have a current checking account?

If you don’t have checking account you can apply with saving account at CashAmericaNearMe.

What happens If I do not pay back my payday loan?

The payday lender might eventually send your debt to collections. You could owe the amount of money you borrowed, plus any fees, overdraft charges, bounced check fees, potential collection fees, and possible legal costs if they or the collection agency take legal action against you.

Can you have two payday loans at once?

Payday lenders should only provide one loan at a time. It may be possible to obtain multiple payday loans or even two at once if the lender does not check, but this can make it difficult to repay, leading to costly fees. Therefore, limiting yourself to one loan at a time is important.

What are the consequences of defaulting on a payday Loan?

A failure to repay a payday loan can result in bank overdraft fees, collection calls, harm to your credit score, legal proceedings, and garnishment of wages.

Can you go to jail for not paying a payday loan?

You cannot be arrested solely for not paying back a payday loan. However, if you fail to comply with a court order that has been made due to legal action taken against you, such as being sued or receiving a judgment, a warrant may be issued for your arrest.

Can I get a payday loan with bad credit?

If you have bad credit, it’s still possible to get approved for loan products; however, this comes with a downside. Interest rates can be up to 400%, and the repayment period is usually quite short. Therefore, these loans are costly and difficult to pay off on time.

What is the average payday loan amount?

A payday loan is typically a short-term, high-cost credit option for up to $500. It is normally due on the borrower’s next payday. Depending on state laws, such loans may be available from physical storefronts or online lenders. Unfortunately, there is no universal definition of what constitutes a payday loan.

What is APR? What does it mean for a customer?

The Annual Percentage Rate (APR) is the yearly rate you will be charged if you do not pay off your credit card balance in full. This interest rate can be variable, increasing or decreasing over time. Therefore, monitoring your APR and trying to keep it as low as possible is important.

How will a payday loan affect my credit score?

Payday loans are generally not reported to the three major national credit reporting agencies, so they will not affect your credit scores. In addition, most payday lenders who operate brick-and-mortar stores do not consider traditional credit reports or credit scores when deciding whether or not to grant a loan.