Cash Store short-term loans review July 2018 | finder.com

Cash Store short-term loans review

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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.

Min Loan Amount$100
Max. Loan Amount$5,000
Loan TermVaries
Loan SecurityUnsecured
Turnaround TimeUsually 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.

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

Rates last updated July 21st, 2018
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Term of Loan Turnaround Time Max. Loan Amount
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
9 to 36 months
1 business day
$4,000
CashUSA Installment Loans
90 days to 72 months
As early as 1 business day
$10,000
Jora Installment Loans
Installment loans with repayment terms up to 30 months, depending on your state.
4–30 months, varies by state
1–2 days
$2,600
Slam Dunk Loans
Potentially get approved for a short-term loan through this lender-connection service, even with poor credit history.
Varies by lender
As soon as next business day
$2,500
BadCreditLoans.com
With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
3 to 36 months
Varies
$5,000
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
1 business day
Varies by state
Blue Trust Loans Installment Loans
Get an installment loan from an online tribal lender. Perks for returning borrowers.
6 months
As soon as next business day
$2,000
HonestLoans Installment Loans
Get a flexible installment loan with fast funding through one easy online application form.
Varies by lender
As soon as one business day
$2,500
MaxLend Installment Loans
Get up to $1,000 as a first-timer, with loans of up to $2,000 and lower APRs for repeat borrowers.
6 months
As soon as the next business day
$2,000

Compare up to 4 providers

Budget to repay your loan on time

Although 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. With auto title loans, you use your car as collateral. 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?

Yes. Cash Store has a valid security certificate and is protected by Norton Security. The information you enter on the site will be secure, and the privacy policy covers the standard information that Cash Store shares.

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. 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 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 licence
  • Have a lien-free car title (for title loans)
  • Are at least 18 years old

If you meet these conditions, then you will likely qualify for a loan.

How do I apply?

  1. You can click Go to site on this webpage to start your Cash Store application.
  2. Enter your full name, phone number, email and select your state.
  3. Complete your application by filling out information about yourself.
  4. Read the Important Information disclaimer carefully and agree to the terms.
  5. Submit your application and enter your ZIP code to find the nearest store.
  6. Bring the required documents to a Cash Store location to complete your loan application.

Step-by-step application with screenshots

Required documents

In order to complete your in-store application successfully, you’ll need to provide the following documents:

  • Proof of income
  • A recent checking account statement
  • A personal check
  • A state-issued ID
  • Lien-free title (for auto title loans)

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.

Bottom line

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.

Frequently asked questions

Important information

Approval rate based on complete applications received.

Loan amount is subject to loan approval. Loan terms and availability may vary by location.

In Texas, the Cash Store is a Credit Services Organization and Credit Access Business. Loans are provided by a non-affiliated third-party lender.

Vehicle is subject to evaluation for title loans and auto equity loans.

Referral program is subject to change without notice. Program cannot be used in conjunction with any other offer/promotion. Offer not available to employees and former employees of the Cash Store, including their spouses and family members. Must have taken out at least one loan through the Cash Store, eligibility begins the next business day after the first advance. Account must be in good standing. In WI, program is open to any resident whether or not an existing or former customer.

Rebate discount is 50% rebate of the interest portion of your first regularly scheduled payment. Paid as a rebate that is separate from your loan obligation. Rebate payment offered only to first-time customers of the Cash Store who present original coupon at time of loan origination and take out an advance or loan of $100 or more. One coupon per household. Offer not available to employees of the Cash Store or their family members. Payment will be made by check mailed to customer within 30-45 days of origination date for advance or loan. Non-Wisconsin customers: If customer defaults under advance or loan, payment is forfeited by customer. Wisconsin customers only: Payment is earned on origination date for advance or loan. If you default or if your loan is not in good standing when we process your rebate, we may apply the rebate payment as a credit to your account with us. Texas customers only: 50% rebate of CSO/CAB fee and interest portion of first regularly scheduled payment.

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