A lender that claims to approve over 90% of its applicants for installment, cash advance and title loans.
Having spare money on hand to cover an emergency isn’t always the reality. In times like these, plenty of people turn to short-term lenders to help them pay for car repairs or unexpected medical bills. Cash Store has been extending loans to borrowers since 1996 and claims to approve a majority of its applicants. You can apply online, but must pick up your cash at a store location.
Available in 7 states only
Cash Store only lends to residents of Idaho, Illinois, Michigan, New Mexico, Texas, Utah and Wisconsin. If you don’t live in one of those states, you’ll have to consider a different lender.
|Product Name||Cash Store Short-term Loans|
|Min Loan Amount||$100|
|Max. Loan Amount||$5,000|
|Turnaround Time||Usually within the same day|
- Live in a state serviced by Cash Store
- Regular source of income
- Active checking account
- State-issued ID or driver's license
- Age 18 or older
What types of loans does Cash Store offer?
Cash Store offers residents of Idaho, Illinois, Michigan, New Mexico, Texas, Utah and Wisconsin the following three loan options:
- Installment loans. Cash Store offers installment loans for borrowers looking to pay back their loans over time and take out larger amounts. Most states allow you to borrow up to $3,000, while New Mexico has a higher cap of $5,000.
- Cash advance loans. These loans have shorter repayment terms. Cash Store only extends these loans to residents of Illinois with a $865 cap, and Michigan with a $600 cap.
- Title loans. If you have a lien-free title on your car or truck, you may be able to drive away with a loan by using the title as collateral. In most states you can borrow up to $20,000 based on the value of your vehicle, while Wisconsin has a higher maximum of $25,000. Vehicle is subject to evaluation for title loans.
What are the benefits of a Cash Store loan?
- Over 300 stores. Although you can start the application online, you’ll need to visit a store to complete it. But with more than 300 stores across 7 states, it’s easy to find one near where you live.
- Quick turnaround time. You won’t have to wait for your money to be deposited into your checking account. Instead, you can walk away with cash or a check in hand the same day.
- Special offers available. Cash Store has a referral program and a first-time borrower discount. You can earn $100 by referring a friend for a loan. If it’s your first time applying, you can get a 50% rebate on the interest portion of your first regularly scheduled payment by presenting a valid coupon during your visit.
- Informative FAQs. Unlike many of its competitors, Cash Store has a comprehensive section on its website that addresses many of the questions about borrowing a short-term loan.
What to watch out for
- Loans not available in every state. Unless you live in Idaho, Illinois, Michigan, New Mexico, Texas, Utah or Wisconsin, you won’t be able to get a loan from Cash Store.
- Must pick up cash in-store. You can begin the application online, but to receive your funds you’ll have to visit a Cash Store location.
Compare more short-term loan options
Budget to repay your loan on timeAlthough short-term loans can feel like a miracle when you’re struggling to make ends meet, they are costly. Short-term loans come with a variety of fees and interest rates that can soar into the hundreds of percents.
On top of this, the repayment period can be quite fast. With similar payday loans, many people have had difficulties paying back what they borrow by the due date and end up taking out a second loan to cover the remaining balance.
This doesn’t mean you can’t be successful when borrowing a short-term loan. If you budget carefully when you borrow, you could pay it back on time with no penalty charges. Our list of payday loan alternatives can help you rule out other options before you decide if a short-term loan is your best option.
How do Cash Store auto title loans work?
If you have a car or truck with a lien-free title, Cash Store may be able to extend a loan of up to $25,000 using your car as collateral. Your vehicle is subject to evaluation with a title loan. Your rates will be lower than a typical payday loan, and you can pay back your loan over an extended period of time.
The loan amount you qualify for will vary by your car’s make and model as well as by your ability to repay. Vehicle is subject to evaluation for title loans and auto equity loans.
In order to apply, you’ll need to bring along your vehicle, a lien-free title and a valid driver’s license. Illinois residents will also need to bring proof of income.
Is it safe to apply with Cash Store?
With recent news about websites being hacked, you can follow certain protocols to protect your information even further. For example, avoid using public computers when entering any personal information on a website and be sure to change your passwords periodically.
What do borrowers say about Cash Store?
There are no reviews posted on major websites like the Better Business Bureau (BBB) or TrustPilot about Cash Store as of February 2019. However, there are reviews on other websites like Yelp and consumer review sites that mention individual stores.
From what we found, customer experience varies by store. Your best bet when looking to see what other people think about Cash Store is to find former borrowers in your local area and see what they have to say about the loan and the customer service they received.
Am I eligible?
The eligibility criteria for Cash Store typically requires you:
- Live in a state serviced by Cash Store
- Have a regular source of income
- Have an active checking account
- Have a state-issued ID or driver’s license
- Have a lien-free car title (for title loans)
- Are at least 18 years old
Live in New Mexico, Texas, Wisconsin or Illinois? You can qualify with a personal check and/or debit card. If you meet these conditions, then you will likely be eligible for a loan.
How do I apply?
- You can click Go to site on this webpage to start your Cash Store application.
- Enter your full name, phone number, email and select your state.
- Complete your application by filling out information about yourself.
- Read the Important Information disclaimer carefully and agree to the terms.
- Submit your application and enter your ZIP code to find the nearest store.
- Bring the required documents to a Cash Store location to complete your loan application.
Step-by-step application with screenshots
In order to complete your in-store application successfully, you need to provide the following documents in most states:
- Proof of income
- A recent checking account statement
- A personal check
- A state-issued ID
- Lien-free title (for auto title loans)
If you live in New Mexico, Texas, Illinois or Wisconsin, you can apply for a personal loan with a personal check and/or debit card.
What happens after I get the loan?
Once you receive your loan, you can use the funds however you choose. If you took out an installment loan or auto title loan, your due date will be listed on your loan contract.
It’s important to pay back your loan on time. Otherwise, you may be subject to late fees and, if you borrowed an auto title loan, your vehicle could be repossessed.
Cash Store can be a good option for residents of Idaho, Illinois, Michigan, New Mexico, Texas, Utah or Wisconsin looking to borrow funds to cover a financial setback. With multiple loan options available and plenty of store locations within its seven serviced states, you should be able to find a loan that fits your needs.
To compare more of your options before committing to a final decision, visit our guide to short-term loans.