Understanding
Payday Lenders

It's important to know what you're getting into before applying for a payday loan. When you begin researching payday lenders, it's important to know that there are different types of lenders out there that offer different types of products, different application steps, and different rates and terms. While all payday loan companies are meant to offer you cash when you need it, some might be better suited to meet your current need than others.

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Direct Lenders

FAQs

Speedy Cash - Your Direct Payday Lender

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QUICK LENDING DECISION

After submitting your online payday loan application and your information is confirmed, you will receive a lending decision.

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DIRECT LENDER*

Speedy Cash processes your application & funds your payday loan. Why work with a loan matching service when you can work directly with us?

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SECURE ONLINE APPLICATION

Speedy Cash offers a 100% online payday loan application that is encrypted for your security.

*In Texas, Speedy Cash operates as a Registered Credit Access Business (CAB). The actual Lender is an unaffiliated third party.

Types of Payday Loan Lenders

When you need money and you need it now, you may be keen to borrow from the first lender that approves you. But before you do, it&qpos;s important to understand the different types of payday loan companies and how the different lender types can affect you as a consumer.

Direct lender loans

DIRECT LENDERS

A direct payday lender is a lender that both processes your application and funds your loan. These lenders do not broker or sell your information to other lenders.

CREDIT ACCESS BUSINESS (CAB)

“Credit access businesses” are state-registered CSOs (Credit Service Organizations) that obtain for or assist a consumer in obtaining an extension of consumer credit. Basically, this means that you apply for a payday loan with the CAB, and if you are approved, they arrange a loan between you and a third party lender. The CAB still services your loan, meaning you will still make your loan payments with them.

STATE REGULATED LENDERS

State regulated payday loan lenders are regulated by each state in which they offer payday loans. Using a state regulated lender means that the interest rates and fees you pay will not exceed the laws and regulations set forth by your state. State regulated payday loan companies can be found both online and at store locations.

TRIBAL LENDERS

Tribal payday lenders operate by affiliating with Native American tribes. Tribal lenders consider themselves sovereign nations, which mean that they are only limited to the laws and regulations of their tribe - no federal or state payday laws. This affiliation allows their interest rates to exceed what is permitted by state regulations.

OFFSHORE LENDERS

Offshore lenders operate outside of the US. They do not comply with the state or federal regulations that are in place to protect payday loan consumers. Because offshore lenders do not follow these regulations, they can typically lend more money but that can come with higher finance fees (and sometimes hidden fees that may not be apparent).

LEAD GENERATORS

A lead generator is a liaison between loan applicants and online lenders. Lead generators often have a network of websites where they collect payday loan applications online. Sometimes these websites can appear to be a direct lender, but they don't actually lend money. Instead, they sell the applicant's information to a direct lender that will then fund the loan. To identify if a website or company is a loan broker, look for the small print that typically says something along the lines of “the operator of this website is not a lender” or “match you with a lender”.

Direct Payday Loans from Speedy Cash

Speedy Cash is a direct payday lender.* We set ourselves apart from other payday loan lenders with our heightened Customer Service and commitment to always providing easy, fast and friendly service. Are you ready to apply for a Speedy Cash payday loan?

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*In Texas, Speedy Cash operates as a Registered Credit Access Business (CAB). The actual Lender is an unaffiliated third party.

Did you receive a reservation number in the mail? Click here to get started.

© 2024 Speedy Cash. All Rights Reserved.

Loan Products: Subject to state regulations, eligibility, credit check, underwriting & approval, and meet state database eligibility, where required based on type of lending product requested. All products are not available at all locations. Rates, terms and conditions apply. See associate for details. Lending decisions and funding times subject to system limitations. Some applications may require additional verification, which can delay the lending decision.

Non-Loan Store Services: Rules, restrictions, and fees apply. See store for details.

Short term loans should be used for short-term financial needs and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling.

The credit decision on your application may be based in whole or in part on information obtained from a national database including, but not limited to, TransUnion, Equifax, LexisNexis or FactorTrust, Inc.

†Instant funding is not applicable for all debit cards and is not available in Ohio, Oklahoma, Oregon, or South Carolina. Subject to system limitations. Some restrictions may apply.

∞Cash advances only available up to approved credit limit; some restrictions may apply.

Green Dot: Must be 18 or older to open an account. Online access, mobile number verification (via text message) and identity verification (including SSN) are required to open and use your account. Mobile number verification, email address verification and mobile app are required to access all features.

1. Early direct deposit availability depends on payor type, timing, payment instructions, and bank fraud prevention measures. As such, early direct deposit availability may vary from pay period to pay period. The name and Social Security number on file with your employer or benefits provider must match your Green Dot account to prevent fraud restrictions on the account.

2. Opt-in required. Account must be in good standing and chip-enabled debit card activated to opt-in. Initial and ongoing eligible direct deposits are required for overdraft coverage. Additional criteria may apply which can affect your eligibility and your overdraft coverage. Overdrafts are paid at our discretion. Overdraft fees may cause your account to be overdrawn by an amount that is greater than your overdraft coverage. A $15 fee may apply to each eligible purchase transaction that brings your account negative. Balance must be brought to at least $0 within 24 hours of authorization of the first transaction that overdraws your account to avoid a fee.

3. See app for free ATM locations. 1 free in-network withdrawal per calendar month. $3.00 per withdrawal thereafter. $3.00 for out-of-network withdrawals and $1.00 for balance inquiries, plus any fee the ATM owner may charge. Limits apply.

Green Dot® cards are issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. And by Mastercard International Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. ©2023 Green Dot Bank. All rights reserved. Green Dot Corporation NMLS #914924; Green Dot Bank NMLS #908739

NOTICE: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the Consumer Financial Protection Bureau, 1700 G Street NW, Washington DC 20006 and the Federal Trade Commission, Equal Credit Opportunity, Washington DC 20580.

Alabama: Minimum age to apply in Alabama is 19.

California: Company is licensed by the California Department of Financial Protection and Innovation pursuant to California Deferred Deposit Transaction Law, Cal. Fin. Code §23000 et seq.

California: Compañía está autorizada por el Departamento de Protección e Innovación Financiera bajo la ley de Transacciones Depósito Diferidas de California, Cal. Fin. Código § 23000, et seq.

Customers who are California residents may request information from us to know what personal information we may collect, have, or maintain about them and what we do with it per the California Consumer Privacy Act (CCPA) and the California Privacy Rights Act (CPRA). If you are a California resident and wish to make a request under CCPA or CPRA, click on the “Do Not Sell or Share My Personal Information” button or link.

Nevada: The use of check-cashing services, deferred deposit loan services, high-interest loan services or title loan services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

Oregon: Licensed by the Oregon Department of Consumer and Business Services to make Deferred Deposit Loans, NLMS Id. #0267-004-S.

Tennessee: The State of Tennessee requires a minimum principal reduction. In order to comply with the minimum state-required principal reduction, Speedy Cash requires that minimum payments include a principal reduction of 2% or $2.50 for Customers who get paid bi-weekly/twice-a-month, or 4% or $5 for Customers who get paid monthly, whichever is greater.

Texas: Speedy Cash operates as a Registered Credit Access Business (CAB). The actual Lender is an unaffiliated third party.

If you have an unresolved complaint regarding the company’s money transmission or currency exchange activity, please direct your complaint to the Texas Department of Banking: 2601 North Lamar Boulevard, Austin, TX 78705-4294, 1-877-276-5554 (toll free), www.dob.texas.gov.