HELP CENTER
Online Loans FAQs
Online loans come in many forms such as Lines of Credit, or online Cash Advances. An online loan allows you to apply for funds - and get them deposited directly into your bank account - without having to visit a store.
Depending on the state, Speedy Cash offers online Payday Loans, Installment Loans, and Lines of Credit. To find the online loans available in your state, visit your state’s available loans page.
The amount of funds you can borrow depends on several factors, including your state and income. Visit our available loans page to see what online loans Speedy Cash offers in your state, and what the maximum loan amount is.
Online loans are simply any loan completed online. It can be a Payday Loan, an Installment Loan, or a Line of Credit. How online loans work is, once you’ve submitted an application, your lender will provide you with a lending decision. If approved, you will select your loan amount and sign your loan documents by providing electronic consent. Once your loan documents are signed, your funds are transferred directly to your bank account. You can repay your loan once it comes due by way of your bank account or debit card.
Yes, various lenders offer online same-day loans once you’re approved. For instance, Speedy Cash makes money available the same day by picking up your cash at a Speedy Cash location.
Different lenders have varying processes to transfer your money to your bank account, but typically your funds will be deposited and available by the next business day.
Speedy Cash recognizes the challenges associated with bad credit and tries to work with Customers to best serve them. Depending on your income and ability to repay the loan, you might be approved for an online loan despite bad credit.
- To be at least 18 years old
- Have an open and active checking account
- A steady source of income
- A valid email address
When applying online, you will typically need to provide personal information including:
- Date of birth
- Social Security Number
- Contact Information
- Income information (pay frequency, net and gross income amounts, and employer information)
Yes. However, you will need a steady source of income. If, for example, you are on Social Security benefits, you will enter your income information rather than your employment information.
Payments can be made using your checking account or by way of debit card.
Most online lenders have an option for you to sign up for Autopay. If you consent to Autopay, your payment(s) will be processed automatically on your due date(s) with the information you provide.
Depending on the type of loan you borrow, your payment schedule will vary. Online Payday Advance loans are typically scheduled to be paid back around your next pay date. Some lenders also offer online loans with monthly payments including, Installment Loans and Lines of Credit. These loans typically have regularly scheduled payments through the duration of your loan.
To put it simply, no. Many lenders may say they offer “no credit check loans”, but typically lenders do some type of a credit check, it just may not be a hard credit check. If a lender is stating they have “bad credit loans” or “no credit check loans” consider reviewing the lender’s rates and terms for the product you are interested in, as these loans may have higher APR or additional fees.
Our website is encrypted to keep your information secure. We use a number of security measures that are continually tested and certified by McAfee SECURE™ and Norton Secure™ certified.
Sometimes we may ask for more information to verify your identity. We want to make sure someone else isn’t fraudulently applying with your information. We also want to make sure that the loan payments are manageable for your situation, so we may ask for information verifying deposits and income. Here’s why we might ask you for additional documentation:
1. Security: We may ask you to provide a copy of a valid form of identification to verify and protect your identity. Your security is our top priority, and we want to make sure a fraudster is not applying for a loan with your identity.
2. Income verification: When we determine maximum loan amounts for each approved application, an important factor is making sure that the loan payments are manageable for your current situation. To do this, we may ask you to provide documentation that verifies your income and deposits.