Get a payday loan from Cash Central, and look forward to accessing approved funds quickly
Cash Central is a sate licensed online lender and a member of the Community Financial Services Association of America (CFSA) and the Consumer Financial Protection Bureau (CFPB).
This direct lender provides different types of loan offerings, including payday loans, installment loans and lines of credit. Applying for a Cash Central loan requires that you follow a simple online process, and you can expect access to approved funds quickly.
|Product Name||Cash Central Payday Loan|
|Min Loan Amount||$1,000|
|Max. Loan Amount||$5,000|
|Loan Term||Varies by state|
|Turnaround Time||1–2 business days|
|Costs||Depends on your credit history and the state you live in.|
- Quick, easy process.
- Use money for any purpose.
- Easier repeat borrowing.
- Maximum loan amount varies by state.
- Loan may not available in all states.
- You may pay late fees.
Types of loans from Cash Central
Payday loan. Take out a cash advance and have the funds deposited into your bank account, usually the next business day. Typically, your payday loan is due in full on your next payday. The finance charge (APR) for a payday loan can be as high as 600% or more, so carefully review the terms and conditions before agreeing to any loan. Loan amounts are determined by Cash Central’s underwriting criteria in combination with your state’s laws.
Installment loan. Unlike payday loans, Cash Central’s installment loan does not have to be repaid in full on your next payday. Installment loans are repaid monthly, semi-monthly or biweekly, and can be repaid over a period of six to 24 months. Installment loans generally have a lower APR than payday loans, but are still significantly higher than traditional loans. Loan amounts range from $300 to $5,000 depending on your state’s laws and regulations.
Line of credit. With a line of credit, Cash Central makes funds available to you for up to a certain amount. A line of credit allows you to draw only the amount you need at the time (any time) up to your available credit limit, with funds deposited into your checking account the next business banking day. You’ll only pay for your Cash Central line of credit when you use it. Funds will begin accruing interest on the day you receive them.
As with the other short-term loans, a line of credit is accompanied by a high APR. For example, if your line of credit is $500 with an annual interest rate of 240% and you will be paying off your loan in six months, you would be required to make six payments of $150.36, for a total of $902.16.
What are the benefits of a Cash Central payday loan?
- Quick and easy process. Completing and submitting the application takes no more than a few minutes, and Cash Central informs you of the application’s status almost immediately. Upon approval you can expect the approved funds to be transferred into your bank account by the next business day.
- Use money for any purpose. You can use the proceeds from this loan for just about any purpose, like rent, utility bill, grocery expenses, medical bills, or any unexpected expense.
- Easier repeat borrowing. Once you repay your first Cash Central payday loan completely, you can look forward to instant funding with applications you submit in the future.
- Easy access to account information. You can use the Cash Central website to login and view information regarding your loan. You can use this platform to go through your account history, make changes to communication preferences, make payments, and even refinance your existing loan.
- Resource center. The Cash Central resource center offers information about a range of topics that can help you handle your finances better.
The costs of a payday loan from Cash Central
The fees you have to pay depend on state specific laws as well as the amount of money you borrow. As an example, a payday loan of $500 repaid in 14 days with a 739.96% APR would incur a $141.91 fee, making your loan repayment amount $641.91. Again, the specifics of your loan would be determined in part by your state’s laws.
Upon your application’s approval, Cash Central gives you a loan offer document for you to review and sign. This document gives you a clear picture of all associated fees and charges. You don’t have to accept the loan if you don’t find the fees acceptable, and until you sign the document you don’t have any obligations.
Is borrowing from Cash Central safe?
Cash Central has all required state licenses, which can be viewed on their website. Cash Central is a member of the Community Financial Services Association of America (CFSA), and the Consumer Financial Protection Bureau (CFPB) regulates all loans that Cash Central provides. Cash Central, on their part, endorses accountability, loan transparency, and fair loan transactions.
How do Cash Central payday loans compare?
- If the provider quotes a different rate to the one above please let us know
How do I apply for a Cash Central payday loan?
Applying for a Cash Central payday loan is easy and takes around five to 10 minutes. Ensure that you meet the following eligibility requirements before submitting your application:
- You are at least 18 years old
- You have a verifiable source of income
- You have an operational checking account
- You can provide two valid phone numbers
- You have a Social Security number
You will be asked to provide the following information:
- Your name, email address, home address, phone numbers, Social Security number, and date of birth
- Employment-related information, like your employer’s name and phone number
- Details about your income
- Details about your bank account
Frequently asked questions
Where is Cash Central located?
Cash Central’s headquarters is in North Logan, Utah.
How do I repay the loan?
Cash Central electronically withdraws the loan repayment amount along with applicable fees from your bank account on the due date.
What happens if I can’t repay the loan in time?
You can opt for an Extended Payment Plan (EPP) depending on the state you reside in, and this does not require you to pay any additional fees. You can also refinance your loan, in which case you will have to pay additional fees.
Can I repay the loan before the due date?
Yes you can, and you can make payments online using your bank account details.
Can I apply if I have poor credit?
Yes you can, but you should be able to demonstrate an ability to repay.