This free loan connection service can help you find short term funds of up to $1,000, but with potentially high APRs and fees.
When a financial emergency arises between paychecks, it can be difficult to come up with the cash to move beyond the crisis.
If you are unsure of which direction to go, iCashLoans.com may be able to connect you to a short term loan from one of the 100+ lenders among its network. However, like most short term loans, loans through iCashLoans.com can be costly.
|Min Loan Amount||$100|
|Max. Loan Amount||$1,000|
|Loan Term||Varies by lender|
|Turnaround Time||Varies by lender|
|Requirements||Be employed, have a bank account in your name and income of at least $1,000 per month.|
- Be employed in your current position for at least 90 days
- Be at least 18 years old, and a US citizen or a permanent resident
- Have a bank account in your name
- Have an income of $1,000 or more per month after tax withholdings
- Have a valid email address and phone number
What is iCashLoans.com?
iCashLoans.com is a lender-connection service that combines the steps of finding and applying for a loan into a straightforward online process. By completing a simple form on their website, you’ll start the process of connecting with lenders willing to provide the funds you need. You won’t pay a fee for this service; rather, lenders themselves pay a fee to iCashLoans.com for the help in increasing their customer base.
Interest rates and other terms are set by the lenders but are regulated by your state of residence.
What are the benefits of iCashLoans.com?
If you need quick cash to bridge the gap between paychecks, iCashLoans.com is a way to be connected to potential lenders, among other benefits.
- Streamlined access to multiple lenders. Apply easily to be connected with a lender that fits your needs — often in minutes.
- Fast funding. While turnaround varies by lender, you could see funds in your bank account as soon as within 24 hours of approval.
- Automated repayments. Avoid late fees and potential penalties with automatic deductions from your bank account.
- Won’t harm your credit. In most cases, iCashLoans’ lenders use alternative sources like Teletrack and DP Bureau to check your credit, which doesn’t typically affect your FICO credit score.
What to watch out for
iCashLoans.com will search its network to find you a lender, but its loans don’t necessarily come with the lowest costs or best terms. Consider the factors below before signing a contract.
- Not a direct lender. Because it’s a loan connection service, your information could be sold to other lenders as a “lead.” (Compare direct short term loan lenders.)
- APRs can be high. Depending on the lender you are connected with, your APR could be in the four digits.
- Lenders are a mixed bag. Because every lender in the network has its own policies, conditions and fees, be sure to review everything before signing an agreements.
- F rating and user complaints on BBB. The BBB reports several unanswered complaints online, resulting in an F rating. Customers complain of identity theft and money that never arrived.
Compare more online payday loan brokers
Am I eligible for a loan with iCashLoans.com?
You may be approved for a short term loan even if you have bad credit or a past bankruptcy. More specific eligibility will vary by lender, but to be eligible to apply with iCashLoans.com, you must:
- Be a U.S. citizen or permanent resident.
- Be at least 18 years old.
- Show proof of employment and a regular income of around $1,000 a month after tax deductions.
- Have a checking account in your own name for funding deposit.
- Have valid working home and work phone numbers and an email address.
What information do I need to apply?
With iCashLoans.com, you first complete a simple application that calls for your desired loan amount, ZIP code and email address only. After, you’ll be directed to the full application that requires you to enter:
- Your full name and contact information.
- Your phone number.
- Your license or other government-issued ID number.
- Your bank account information.
- The name of your employer and contact information.
- How long you’ve lived at your current address and whether you own or rent.
- Your military status, if applicable.
If lenders doubt the validity of the information or it’s inconclusive, you may be asked for additional documentation.
I got the loan. Now what?
Make sure you understand your specific lender’s terms and conditions for your loan. Stay on top of your payments to avoid paying stiff late or missed payment penalties. Most lenders will allow you set up autopay.
iCashLoans.com offers the ability to find you funding for your short term needs from among its network of 100+ lenders. But note that its loans can come with astronomical APRs and harsh penalties if you’re not able to meet the obligations of your loan.
Before you sign any contract, you can compare other short term lenders available in your area.
Frequently asked questions about iCashLoans.com
How does iCashLoans.com handle my private information?
iCashLoans.com encrypts the personal and financial information you send through its site. But like all loan connection services, it sells your information to potential lenders, which could expose it to companies that don’t offer this level of security.
Will I need a printer or fax machine to complete my loan application?
No, the application process is completely online. However, the lender you’re connected with may require that you fax or email financial documents for verification.
What states does the company serve?
The states that iCashLoans.com services isn’t currently available. You can check the payday lending regulations in your state to get an idea of if iCashLoans.com may have loan offers available for your state of residence. Otherwise, you’ll have to input your zip code when applying to check the availability.
What protection do I have against unscrupulous lenders?
iCashLoans.com says it follows the Truth in Lending Act and says the lender should provide you with the exact fees, rates, charges, roll over charges and other details of the loan. The company is also committed to working with lenders that obey the Fair Debt Collection Practices Act, which prohibits calls before 8 a.m. or after 9 p.m. and prohibits abusive language, deception, and threats of legal or other action that would be illegal, among other provisions.