Payday Lender Profiles – Speedy Cash

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SpeedycashSpeedy Cash

An indirect payday lender based in San Antonio, Texas with 35 “brick-and-mortar” locations and a website that is built to serve 47 states in the U.S.

Speedy Cash is a large indirect lending service that boasts 35 locations in the state of Texas and offers online loans to almost all of the nation. The company underlines on its website that such payday or short-term loans should not be used for long-term financial solutions, and that those with difficulties should instead seek out credit counseling rather than further burdening themselves with debt. However, the lender does not discourage those with poor credit history from applying for a loan, since it performs no credit checks on applicants. Loan terms and the fees attached to them can vary depending on your situation, therefore it is worth studying the conditions on the website before applying for a loan.

A typical payday loan from Speedy Cash is 14 days in length (though this can increase to 180 days) and with an APR (Annual Percentage Rate) that ranges from 391% to 664% depending on state regulations. Simply go to the Rates and Terms section of the website to check which APR is applied to your state. The standard amount that must be paid for every $100 will be between $17 and $34. The loan is due to be paid back at the end of the 14 days but borrowers may choose to “roll over” and continue it for another term, yet will owe additional fees. Failure to pay off a loan in time will result in late fees.

Applying for a loan from Speedy Cash is simple, and can be done in person at any one of their 35 locations in the San Antonio area, by phone or online from the comfort of your own home. Firstly, you will be asked for your current personal details, proof of income and bank information. Once this has been filled in, the application will be approved or denied in a matter of mere seconds. Then, you will receive your cash as a direct deposit into your bank account in less than 24 hours once it has been approved. The cost of the loan will depend on your income and repayment history, but if you have any questions you can contact the support service via telephone or email.

Requirements in order to qualify for a short-term loan from SonicCash are as follows: that you are currently employed and have been for at least a month with a net income of at least $2,000 per month. This income can be from your job, alimony or child support. You must also be 18 years old and have a valid checking account which the money can then be paid into. Finally, you must have no more than two loans currently outstanding with other loan companies. Once your loan application has been approved, you can receive your cash in between 24 and 48 hours, depending when you submitted the application. For any questions, there is an FAQ page and customer support can be contacted by email, fax or telephone.

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