Speedy Cash Loan Review

All You Need to Know About Speedy Cash Loan

Speedy Cash is a short-term loan company with locations in 29 different states. Installment loans, payday loans, and title loans are among the three sorts of loans available to persons in need of money. Speedy Cash specializes in online payday loans, which borrowers utilize to meet a short-term cash emergency and then pay back with interest on their next payday. Customers who want to engage with a lender in person can apply for a loan at Speedy Cash, which also offers in-store services. If you’re interested in Speedy Cash’s services, you need first create an account on its website or call its customer support phone number.

Suggested Read: First Progress Credit Card Reviews: Is This a Good Option?

Interest Rates That Are Too High

According to the National Consumer Law Center, you should look for a personal loan with an interest rate of 36 percent or less. Even Speedy Cash’s lowest APRs, however, much exceed that, with rates in the triple digits. As a result, unless it’s a serious emergency and you’ve exhausted all other options, you should only consider a Speedy Cash loan.

It’s Possible That an Origination Fee Will Be Charged

An origination fee — a one-time fee levied to execute your loan application — is required in some states. The origination costs charged by Speedy Cash vary based on where you live.

Fast Funding Could Be Possible

If you apply for a loan in person, you may be able to have the funds placed immediately into your bank account the next business day. This could be advantageous if you have an unexpected bill, such as a car repair.

Only a Few Spots Are Available

There aren’t many states where Speedy Cash is available.

Only Alabama, Colorado, Illinois, Mississippi, Missouri, Nevada, New Mexico, Ohio, Oklahoma, South Carolina, Texas, and Wisconsin provide online installment loans.

The Terms Are In-congruent

The terms of a Speedy Cash installment loan differ by state.

You should be aware that in some states, you may be required to make semimonthly loan payments. If you’re looking for a loan that you can pay back over time with one monthly payment, this could put a strain on your budget.

Lenders Can Choose From a Variety of Loan Types

The lender offers a number of different lending choices. These are some of them:

1) Payday Advances

Every year, it is estimated that 12 million Americans take this type of borrowing. Speedy Cash Loan’s normal maximum loan amount is $1,500. However, your state’s lending restrictions may prevent you from borrowing that much. For example, in Alaska, the company offers a maximum loan sum of $500 with a 14-day average term.

2) Installment Loans With Quick Cash

The majority of loans you’ll come across, such as personal unsecured loans and home loans, are paid back in installments. Personal installment loans, which do not require thorough credit vetting, are also available through Speedy Cash. Your proof of income is evaluated, which necessitates that you receive a consistent paycheck on a monthly or bi-weekly basis.

The loan structure differs from one state to the next. In Nevada, for example, homeowners can get up to $1,500 in loans with a 90-day or three-month repayment period. In Nevada, the Speedy Cash installment loan interest rate is at 438.79 percent.

Mississippi residents can borrow up to $1,500, whereas Illinois residents can borrow up to $2,500. Because the lender is licensed at the state and occasionally city level, the amount varies.

3) Payday Loans

Speedy Cash online loans do not include auto title loans. Because you’ll need to exhibit the automobile and title in person, applications must be completed in person at one of their locations. The loan amount will be a proportion of the worth of your car, but you must show that your income is sufficient to cover the monthly installments.

4) A Credit Line

In some areas, such as Missouri, you can borrow up to $5,000 with a line of credit opened with this lender. If you’re wondering how this product works, the lender simply states, “You have $1,000 ready to borrow, take out as much as you like, and just pay interest on what you spend.” It’s practical, and you don’t end up borrowing more than you need.

Key Benefits of Speedy Cash Loan

Funds Can Be Received in a Variety of Ways

You can get a Speedy cash payment in a few different methods. There’s the direct deposit option, which involves the cash being electronically placed into your bank account using ACH payments.

Second, Speedy Cash provides direct debit card deposits. You can select this option when you sign up, and you’ll get the money right away after electronically completing the loan contract. Only a few lenders provide this service.

Finally, and maybe most importantly for Speedy Cash, you can pick up your dollars simply by stepping into their store. For identity verification, you’ll need to show your photo ID. There’s no need to go to an ATM or a bank location, and same-day funding is available.

Quick Loan Approval

If you’re short on time, you’ll appreciate how easy it is to apply with this lender. Their website is so user-friendly that you may not even need to speak with a representative to get your bearings. Funding decisions are also made fast, usually within minutes of receiving your application. You can also use your Facebook account to join up.

Knowledgeable Lender

They have been providing financial services for more than 20 years. They also take precautions to protect the information of borrowers by encrypting their website and using Norton and McAfee services to protect it from threats. They’re also a member of the Online Lenders Alliance.

Pros and Cons of Speedy Cash Loan


  • There is no penalty for paying in advance.
  • Possibility of quick funding
  • Multiple application options


  • Exorbitant interest rates
  • Some states may levy an origination fee.
  • Restrictions on availability

How Can I Apply for a Loan With Speedy Cash?

The application procedure for a Speedy Cash loan is rather simple. When you apply, you’ll need the following personal information.

  • Your complete name and date of birth
  • A valid photo ID
  • Your home address
  • Consistent source of income
  • Create a bank account

When you apply for a loan, Speedy Cash will run a credit check, which could lower your credit score by a few points.

When Only Should You Use a Speedy Cash Loan?

Because of its limited availability, a Speedy Cash loan may be a good loan option only if you fall into one of these categories.

  • You live in one of the states where installment loans are available.
  • You wish to borrow a small sum of money, but keep in mind that the amount of money you can borrow is determined by your state.
  • You’ll be able to pay it off soon. Because the APRs on Speedy Cash loans can be very expensive, you should only use one if you don’t have any other options for covering an emergency need.

Better Alternatives of Speedy Cash Loan


Because it examines a variety of credit histories, a LendUp loan can be a viable option for unexpected expenses.

Rocket Loans

If you live in a place where Speedy Cash installment loans aren’t available or if you need more money, Rocket Loans may be a better alternative.


If you require an emergency loan immediately, Speedy Cash may be able to assist you. Payday loans, title loans, lines of credit, and installment loans are all available at Speedy Cash. However, due to restricted availability and high-interest rates, you may wish to hunt for a loan elsewhere.

If you’re looking for more possibilities, check LoanMart, which offers a general lending option.


Q) Is it possible to pay in advance and save money?

Absolutely! You won’t be penalized for paying early, and you’ll save on any interest that hasn’t yet accrued.

Q) Is it possible to refinance my loan?

Although there are some restrictions on when you can refinance and some loans that cannot be refinanced, your loan is likely to be refinanced. Call any of the locations, and they will be able to provide you with a particular answer to your question.

Q) What are the accepted payment methods?

ACH (direct debit), cash, money order, cashier’s check, or debit card are the recommended methods of payment. If you need to make a payment in a different way, please stop in or call, and they will try their best to help.

Q) When will I receive my funds?

You will receive a cheque the same day if you apply for a loan in one of our locations.

Q) When do I have to make my payments?

You will be offered a payment schedule when you take out the loan. If you can’t find it, give them a call or come in, and they’ll gladly get you a new copy.

Q) Is my personal information safe?

Yes, your information is always safe and secure.

Q) What if I’m unable to pay?

Please contact them as soon as possible, or visit one of their sites. In the event of an emergency, they have solutions for you.

Q) What is the maximum amount I can borrow? What am I eligible for?

We can’t give you this information unless you’ve signed a loan application, according to the law. You can submit your application online or in-person at one of our locations.

Disclaimer: All the information published here are for informational and educational purposes only. Moreover, all these information are researched from official sources. However, we will not warranty the information to be accurate and completed. Do not share your bank details or personal details in the comment box. For more queries visit the official website.

Leave a Comment