If you need money in a hurry, you can consider applying for a payday loan through 1st Money Center.
1st Money Center, Inc is a Texas-based corporation that owns and operates 1st Money Center, through which it provides payday loans. You can apply for a 1st Money Center payday loan if you reside in Alaska, Delaware, Hawaii, Louisiana, Michigan, Missouri, Ohio, South Dakota, Texas or Washington.
In Ohio and Texas, 1st Money Center does not function as the lender of your loan. Instead, it tries to connect your application with a suitable third party lender. In Texas, once you get a loan from a third party, 1st Money Center services it.
From the 2016 taxation season, 1st Money Center has started offering its products through Tax Products Group (TPG) and EPS Financial. This guide focuses on the payday loans provided by 1st Money Center.
Compare payday loan lenders like 1st Money Center
A selection of loans you can apply for
Here are some loan providers that you can apply to. Note that the max loan amount is based on the lender’s max amount. The amount will vary based on your state of residence.
A selection of lender connection services you can apply with
These lender connection services are not lenders, loan brokers or agents for any lender or loan broker. Instead of making approval decisions themselves, they focus on trying to connect you with a lender. The max loan amount is based on the connection services’ max amount, but it will vary based on your state of residence. If you proceed with one of these services, confirm that the lender is reputable by checking with your local government.
How does borrowing from 1st Money Center work?
If you apply with 1st Money Center during business hours, you find out about the status of your application soon after. If it approves your application, your funds will be transferred into your nominated bank account immediately. When the loan is due, 1st Money Center requests payment from your bank account.
The maximum loan amount depends on state-specific laws and your existing financial situation. State laws will also influence the loan term.
Why should you consider taking out a 1st Money Center payday loan?
- Quick and easy process. Completing and submitting your online application takes five to 10 minutes. Since 1st Money Center does not follow the same stringent lending criteria as banks, it is able to process your application much faster. As a result, you can find out about your application’s status on the same day. The money can get to your bank account by the next business day.
- Apply with poor credit. This payday loan provider offers loans to people with less-than-perfect credit. You can apply as long as you have a steady source of income.
- Transparent fee structure. When you get a 1st Money Center payday loan you don’t have to worry about any hidden fees or charges. This lender gives you a clear indication of what the loan will cost through the loan contract. You can also find out about applicable costs even before you apply by visiting the 1st Money Center website.
- Use the approved funds for any purpose. 1st Money Center does not place any restrictions on how you use proceeds from the loan.You can use this money for any legitimate purpose.
How much will it cost you to borrow from 1st Money Center?
How much you end up paying for a 1st Money Center payday loan depends on where you reside and the amount you borrow.
For instance, if you borrow $100 for 14 days in Alaska, you’ll have to repay $112. This includes an origination charge of $5 and a loan fee of $7. If the loan amount increases to $500, the origination charge would remain the same but the loan fee will increase to $35.
For a 14-day $500 loan in Hawaii or Dakota, you’ll end up paying a $40 loan fee. If you are to borrow $500 for 14 days in Delaware, you’ll have to pay an origination fee of $20, a $25 documentation fee and $6.90 as interest. This would bring the total amount payable to $551.90.
Are 1st Money Center loans safe?
1st Money Center follows all applicable state laws when providing payday loans. Your loan contract lists out all fees and charges you might have to pay under different circumstances.
How can you apply for a payday loan from 1st Money Center?
You can submit an application online. Before you begin, go through the required eligibility criteria:
- You meet your state’s minimum age requirement (18 years in most states)
- You are an American citizen or permanent resident of the US
- You have a regular source of income
- You have an operational checking account
To complete the application successfully, you have to provide some basic information:
- Your name, email address, home address and phone number
- Your social security number and date of birth
- Details from an acceptable form of ID such as your driver’s license or passport
- Details about your income
- Your checking account details