AmeriCash installment loans review

Apply in person and get funds the same day — but watch out for high costs.

Bottom line: An installment loan from AmeriCash can be convenient when you have less-than-stellar credit and need cash fast — it offers the option to pick up your funds the same day you apply by visiting a local storefront. But its limited availability and high fees might make you want to think twice.

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1 business day

Turnaround time


Product NameAmeriCash installment loans
Loan TermVaries by state
Loan SecurityUnsecured
Turnaround Time1 business day
RequirementsBank account, regular source of income, live in eligible state, ages 18+


  • Same-day turnaround if approved early enough
  • Transparent terms available on the website
  • Referral program that can earn you a $100 bonus


  • APRs of 400% and higher
  • Only available in 12 states
  • Online loans unavailable in Florida

AmeriCash rates, fees and terms

How much you can borrow, terms and rates all vary depending on where you live.

Here’s how it breaks down by state:

Minimum loan amountMaximum loan amountLoan termMaximum APR
Arkansas$100$2,500Up to 1 year521%
Florida$601$2,500Up to 1 year400%
Illinois$100$4,000112 to 180 daysNot stated
Indiana$100$4,000112 to 180 daysNot stated
Iowa$100$2,500Up to 1 year521%
Kansas$100$2,500Up to 1 year521%
Michigan$100$4,000112 to 180 daysNot stated
Minnesota$100$2,500Up to 1 yearNot stated
Missouri$100$2,500Up to 1 year521%
Oklahoma$50$1,470Up to 18 monthsNot stated
South Carolina$601$2,500Up to 1 year400%
Wisconsin$100$2,500Up to 1 yearNot stated

What is AmeriCash and is it legit?

AmeriCash is a short-term lender that offers online and in-store installment loans to residents of 12 states. In general, it’s legit — though no online company can ensure your information stays 100% safe. AmeriCash does its part by offering a secure application that encrypts any data you enter.

And while it may share your information for marketing and business purposes, you can limit this by calling 888-907-4227 or mailing a written request to AmeriCash’s headquarters. You can read more about how AmeriCash uses the information it collects by reading the privacy policy on its website.

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AmeriCash reviews and complaints

Not much as of November 2020. While it earns an A+ rating with the Better Business Bureau (BBB), it’s not accredited. And it only has a handful of customer reviews listed — odd for a lender that’s been around for over 20 years. More customers left complaints about AmeriCash, with one upset about wrongly applied nonsufficient funds fees and another complaining about high interest rates.

Am I eligible?

To qualify for an installment loan from AmeriCash, you must meet the following criteria:

  • Bank account
  • Regular source of income
  • Live in a serviced state
  • At least 18 years old

What states is AmeriCash available in?

  • Arkansas
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Michigan
  • Minnesota
  • Missouri
  • North Carolina
  • Oklahoma
  • South Carolina
  • Wisconsin

How do I apply?

If you’re interested in an installment loan from AmeriCash, you can apply at a store location, over the phone by calling 888-907-4227 or online by following these steps:

  1. Visit AmeriCash’s website and click Apply now.
  2. Select your state and how much you want to borrow.
  3. Enter your full name, email address and phone number. Click Get started.
  4. Fill in the required fields with information about yourself, your income and your bank account.
  5. Select how you want to receive your funds — note that some states only allow in-store pickup.
  6. Read over the privacy policy and other documents before signing and submitting your application.

You should receive an approval or rejection notice in your email shortly after.

What information do I need to apply?

When you apply for an installment loan, you’ll need to bring the following documents with you or email them to AmeriCash:

  • Voided check from a bank account
  • Valid driver’s license or state ID
  • Proof of income, including pay stubs or a benefits letter
  • Proof of residence, such as two pieces of business mail

What are my repayment options?

Read over your repayment schedule so you know exactly when your payments are due each month. Since AmeriCash charges a $25 returned payment fee, you’ll want to make sure you have enough funds in your bank account before submitting your payment. However, it doesn’t charge any prepayment penalties, so you could save on interest by making extra repayments.

Can’t make a payment? Reach out to AmeriCash as soon as possible to set up an alternative arrangement.

AmeriCash offers a wide range of loan amounts with transparent terms, but it’s still an expensive form of credit with limited state availability. Before you apply, compare your other short-term loan options or consider one of these payday loan alternatives instead.

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