Cash Factory USA short-term loans review

This lender offers transparent terms — but only to residents of five states.

Cash Factory USA sets itself apart by offering a transparent website that breaks down the full cost of its short-term loans. But while it may be convenient and up front about costs, it’s still an expensive form of credit that can have you paying hundreds of dollars in fees over the life of your loan.

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Max. Amount

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Turnaround time


Product NameCash Factory USA short-term loans
Min. Amount$100
Max. Amount$1,000
Loan TermVaries by lender
Loan SecurityUnsecured
Turnaround TimeVaries by lender
RequirementsBank account, proof of income, government-issued ID, US citizen or permanent resident, ages 18+

What is Cash Factory USA?

Cash Factory USA offers both payday and installment loans to residents of five states. You may be able to borrow between $100 and $1,000 depending on where you live, and terms last anywhere from a few weeks to six months.

Rates also vary by state, with California having a low starting APR at just 207.7% and Wisconsin having the highest at 547.36%. You can find a full breakdown of the potential loan costs where you live on Cash Factory USA’s website.

What states is Cash Factory USA available in?

Cash Factory offers loans to residents of five states:

  • California
  • Missouri
  • Nevada
  • Texas
  • Wisconsin

What are the benefits of Cash Factory USA?

From its transparent website to the option to cancel your loan, here are a few perks of borrowing from Cash Factory USA:

  • Loan cancellation available. You may be able to return your loan without paying any fees if you get in touch with Cash Factory USA within one to three days after signing your loan documents, depending on where you live.
  • Member of the CFSA. Cash Factory USA is a part of the Community Financial Services Association of America (CFSA), a trade organization with best practices designed to promote laws and protect short-term borrowers.
  • Extensive rate breakdown. Unlike many lenders that hide the high fees and APRs of their short-term loans, Cash Factory USA provides multiple examples of the potential costs of its products for each state it lends in.

What to watch out for

Before you apply, consider these potential drawbacks of taking out a Cash Factory USA short-term loan:

  • Extremely high APRs. Although the actual finance fees may not be much compared to the amount you borrow, it may still translate into an APR well over 500%. And in some cases, as high as 3,647.08%.
  • Limited company information. While Cash Factory USA has an About Us page on its website, it only offers details about its different state licenses. This makes it difficult to get a feel for the company behind the loans.
  • Only available in five states. If you live outside California, Missouri, Nevada, Texas or Wisconsin, you’ll need to find a different lender.

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Is it safe to apply for a loan through Cash Factory USA?

In general, yes — though no website can ensure your information stays 100% secure. Cash Factory USA does its party by encrypting any information you submit through its online application. It’s also licensed in each state it lends in and has an industry-standard privacy policy. Plus, it has a page dedicated to helping customers stay safe online — including listing out common scams and how to avoid them.

What do borrowers say about Cash Factory USA?

As of May 2019, reviews for Cash Factory USA are generally positive. While it isn’t accredited with the Better Business Bureau (BBB) and has no official rating, it scores a 9.2 out of 10 on Trustpilot based on over 900 customer reviews.

Most borrowers were happy with Cash Factory’s helpful and respectful customer service team. And the few negative reviews centered around the high cost of borrowing, which isn’t exclusive to Cash Factory but short-term lenders in general.

Am I eligible?

To be eligible for a loan through Cash Factory USA, you need to meet the following requirements:

  • Proof of income
  • Bank account
  • Government-issued ID
  • At least 18 years old
  • US citizen or permanent resident

How do I apply?

Follow these steps to submit your application online:

  1. Visit Cash Factory USA’s website.
  2. Select your state and desired loan amount. Click Get Started.
  3. Enter information about yourself, your employment and your bank account details.
  4. Confirm you aren’t a member of the military. Click Submit.

If Cash Factory USA receives and verifies your information before 4:30 p.m. PT, you may be able to receive your loan funds as soon as the next business day. If you’re not approved, you may have to wait 30 days before you’re eligible to apply again.

What information do I need to apply?

To complete your application, have the following information and documents on hand:

  • Date of birth
  • Address
  • Social Security number
  • Monthly income
  • Paycheck frequency
  • Bank name, account number and routing number
  • Copy of driver’s license or state ID
  • Proof of income
  • Proof of residence

I got the short-term loan. Now what?

After you receive your loan funds, it’s time to think about repayment. Your loan agreement should state the due date and the amount you need to repay. Follow this carefully — if you post payment after the due date, you may be charged a late payment fee.

If you have second thoughts, you may be able to return the loan within one to three days of signing the loan documents — depending on your state of residence. The cancellation request must be made in writing, and specific instructions can be found in your loan agreement.

  • California and Nevada. Must cancel before 5 p.m. PT on the business day after the loan agreement is finalized.
  • Missouri. Must cancel before 5 p.m. PT on the day after the loan agreement is finalized.
  • Texas. Must cancel before 12 a.m. CT on the third day after the loan agreement is finalized.
  • Wisconsin. Must cancel within one business day after the loan agreement is signed.

Bottom line

Cash Factory USA is an upfront lender that keeps its terms transparent. But its short-term loans are still expensive.

Before you borrow, read our guide to payday loans to compare other options. Or consider one of these less-expensive payday loan alternatives instead.

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