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AmeriCash installment loans review

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

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.

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+

What is AmeriCash?

AmeriCash is a short-term lender that offers online and in-store installment loans to residents of 12 states. 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 are the benefits of an AmeriCash installment loan?

AmeriCash may not be the least-expensive option, but it does have a few perks to consider:

  • Same-day turnaround. If you live in or near a state that has an AmeriCash branch, you could pick up a check the same day you’re approved. Otherwise, you’ll receive your funds in your bank account the following business day.
  • Transparent terms. AmeriCash lists out loan amounts, terms and potential APRs by state on its website so you can make an informed decision.
  • Referral program. If you refer someone you know to AmeriCash, you may be eligible for a $100 bonus.

What to watch out for

Although AmeriCash offers transparent terms, it’s still a short-term lender. Here are a few drawbacks to consider before applying:

  • High APRs. When you take out an AmeriCash installment loan, you may be subject to an APR of 400% or higher. This means you may end up paying over four times the amount you borrow in interest over the life of your loan.
  • Limited state availability. AmeriCash only offers installment loans to residents of 12 states, and it only has storefronts in five. This means you might need to visit another state if you want to pick up your funds the same day you apply.
  • Online loans aren’t available in Florida. Residents of the Sunshine State have to visit an AmeriCash storefront in South Carolina to apply for a loan. If you don’t live near the Georgia border, you’ll likely need to find a different lender.

Compare other short-term loan providers

Data indicated here is updated regularly
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
OppLoans Installment Loans
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
Check Into Cash Payday Loan
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+
Plus, get access to check cashing, cell phone top ups, bill pay and more at one of its many storefronts.
Fast5kLoans Short-term Loans Connection Service
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
Possible Finance Mobile Installment Loans
As fast as 1 business day
Checking account with 3+ months of banking history, $750+ monthly income, live in eligible state, ages 18+
Borrow up to $500 with just a few swipes — but only for residents of 5 states.

Compare up to 4 providers

Is it safe to apply for an installment loan with AmeriCash?

In general, yes — 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.

What do borrowers say about AmeriCash?

Not much as of May 2019. While it earns an A+ rating with the Better Business Bureau (BBB), it’s not accredited. And it only has one customer review listed — odd for a lender that’s been around for over 20 years. Five other 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

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 documents 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
  • Proof of residence

I got an installment loan. Now what?

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.

Bottom line

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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