Speedy Cash came into being in 1997 and it has quickly become one of the fastest growing short-term loan providers in not just the United States, but also Canada and the United Kingdom.
The company began life in Riverside, California, serving hard working individuals that are in need of a short-term loan. Traditional banks may not be in a position to help some people, and this is where Speedy Cash is happy to step in and help.
There are several loan products available, which will depend on the state in which you reside, and each one is fairly straightforward and easily accessible. These loan products include:
- payday loans
- title loans (where a vehicle is used as collateral)
- check cashing
- lines of credit and instalment loans
- 1 How much is a loan going to cost me, and what are the terms?
- 2 How do you apply for a Speedy Cash Loan?
- 3 Key features – the good, the bad and the ugly
- 4 Speedy Cash alternatives
- 5 How much can you borrow?
- 6 How easy is it to contact customer support?
- 7 FAQ
How much is a loan going to cost me, and what are the terms?
Interest rates are going to depend what state that you happen to be in when applying for your loan. Each state has its own rules and Speedy Cash loans are governed by individual states. For this reason, and because how much you pay back will depend on the loan amount and duration, we cannot go into great detail here.
That being said, APR ranges from 132 to 521%. There are several different loan types, with application processes and eligibility varying slightly between them.
As an example, a $100 loan in Tennessee, repaid over 7 seven days, carries an annual percentage rate (APR) of 279.4%. This means that the total finance charge for $100 over 7 days is $5.36. With the minimum payment being $2.50, this brings the total repayable amount to $107.86.
How do you apply for a Speedy Cash Loan?
By far the easiest way to apply for a Speedy Cash loan is, if available in your state, to apply online at SpeedyCash.com. The application process for each product is very similar but will vary slightly depending on the actual product. For instance, when applying for a title loan you will need to provide details of the vehicle being used as security.
Before starting the application process, you will need an account with Speedy Cash. If you do not already have one, creating one is very simple and will only take a moment or two. At the application phase you will be asked for some basic information such as your name, address, cell phone number, active military status if applicable and your Social Security Number.
The rest of the process is fairly self-explanatory but you will need your banking details to hand to complete the loan application.
Key features – the good, the bad and the ugly
As with any other service there are going to be pros and cons with using Speedy Cash, and these may or may not influence your decision as to whether you should use this particular lender or not. Here are a few of the top pros and cons of using Speedy Cash.
- Excellent option if you find yourself in a situation where you need cash quickly
- The application process is straightforward, and you can expect a decision within minutes
- Unlike most loan providers, Speedy Cash have physical stores if that’s your preference or want to speak to somebody in person and you live nearby
- High interest rates
- Relatively easy to get further into debt, but this true of all loans
- You risk losing your vehicle if you do not keep up title loan repayments
If the cons mentioned above are not enough to put you off, especially the last one, then this type of loan could be a worthwhile consideration.
Speedy Cash alternatives
If you do ever find yourself in a position where you need cash in a hurry, for an urgent household repair for example, then there are alternatives to consider before making use of a Speedy Cash loan. Firstly, see if you are eligible for a personal loan from your bank – repayment terms are likely to be more favourable, as well as cheaper repayment rates.
Next inline for consideration should be a credit union. Interest rates are likely to be even lower but maybe a little harder to get, if you haven’t used them before, when compared with your own bank who you are likely to have been with for quite some time.
A secured credit card is also an option, and while interest rates will be higher than with a personal loan, it will still be cheaper than a payday loan.
How much can you borrow?
Loan amounts vary depending on the type of loan and which State you reside in. Typically though loan amounts range from $225 to $25,000 and these may be available online, instore or both – again, this depends on your State.
Speedy cash is available in most parts of the us, States where loans are available are:
- Alabama – online and in-store
- Alaska – online only
- Arizona – online and in-store
- California – online and in-store
- Colorado – online and in-store
- Delaware – online only
- Hawaii – online only
- Idaho – online only
- Illinois – online and in-store
- Kansas – online and in-store
- Louisiana – online and in-store
- Missouri – online and in-store
- Nevada – online and in-store
- New Mexico – online only
- North Dakota – online only
- Ohio – online only
- Oklahoma – online only
- Oregon – in-store only
- Rhode Island – online only
- South Carolina – online only
- Tennessee – online and in-store
- Texas – online and in-store
- Utah – online only
- Vancouver – online only
- Washington – online and in-store
- Wyoming – online only
With the expansion of Speedy Cash not showing signs of coming to a halt, it wouldn’t be surprising if more states were added before long.
How easy is it to contact customer support?
There are several options open to you should you need to contact support at Speedy Cash. An English speaker can be contacted at 1-888-333-1360, a Spanish speaker at 1-855-734-011. Alternatively, they can be emailed at CustomerService@SpeedyCash.com.
Customer support hours of operation are 6am – 11pm Monday to Friday and 9am to 6pm Saturday and Sunday.
If you prefer to pop into a local store, you can locate your nearest outlet on the website or by calling 1-866-91-MONEY (916-6639).
This wide range of contact options make Speedy Cash one of the easiest payday loan providers to get in touch with.
How do Speedy Cash loans work?
This will depend on the kind of loan that you apply for, but generally speaking the process is:
- Create an account
- Complete a loan application
- Submit your application, receive a near instant decision
- Upon approval, review and sign your loan documents, and receive your money
- Pay back your loan as per the loan agreement
How much am I able to borrow?
The most that you are able to borrow will vary depending on several factors including your income, credit rating, and the state in which you are applying from.
What if I change my mind after applying for a loan?
Speedy Cash give all of their customers a grace period of 24hrs. If you change your mind about the loan within this period, you are able to return the amount borrowed without incurring any fees.
What loan should I get?
The type of loan that you should apply for depends entirely on how much you need to borrow and how long you need to repay. It should be noted however that not all loan types are available in all states where we provide loans.