Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.0
(14 Ratings)

Approved Cash

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About Lender

Approved Cash is a lender that offers a variety of financial services, including payday loans, installment loans, and title loans. The company was founded in 2004 and is headquartered in Cleveland, Tennessee and has over 200 locations across several states in the United States, including Alabama, Michigan, Mississippi, Tennessee, and Virginia. The company's mission is to provide its customers with fast and easy access to the cash they need, regardless of their credit history.

One of the key features of Approved Cash is its online application process, which allows customers to apply for a loan from the comfort of their own homes. The company's website is easy to use and provides customers with all the information they need to decide whether to apply for a loan.

Approved Cash offers payday loans, which are short-term loans that are typically due on the borrower's next payday. Payday loans are designed to provide customers with immediate cash when they need it most, such as to pay for unexpected expenses like car repairs or medical bills.

Approved Cash

Key Features

  1. Payday loans. Approved Cash offers payday loans, which are short-term loans that are designed to provide customers with immediate cash when they need it most. Payday loans are typically due on the borrower's next payday and are ideal for customers who need to borrow a small amount of money.

  2. Installment loans. In addition to payday loans, Approved Cash also offers installment loans, which are longer-term loans typically repaid in monthly installments over several months. Installment loans are ideal for customers who need to borrow a larger amount of money and prefer to repay it over time.

  3. Title loans. Approved Cash also offers title loans, which are secured loans that use the borrower's vehicle as collateral. Title loans are a good option for customers who own their own vehicle and need to borrow a larger amount of money.

  4. Online application process. Approved Cash has an easy-to-use online application process that allows customers to apply for a loan from their homes.

  5. Multiple locations. Approved Cash has over 200 convenient locations across several states in the United States, where a branch manager will assist you with what you need.

  6. Fast approval process. Approved Cash has a fast approval process, which means that customers can often receive their cash the same day they apply for a loan.

  7. No credit check. Approved Cash does not require a credit check for payday loans, making it a popular choice for customers with poor credit or no credit history.

  8. Transparent fees and charges. Approved Cash provides customers with clear information about the fees and charges associated with their loans, so they can decide whether to apply for a loan.

Pros and Cons

Pros

Fast approval process. Approved Cash has a fast approval process, which means that customers can often receive their cash the same day they apply for a loan.

No credit check. Approved Cash does not require a credit check for payday loans, making it a popular choice for customers with poor credit or no credit history.

Multiple loan options. Approved Cash offers payday loans, installment loans, and title loans, giving customers a variety of options to choose from based on their needs.

Easy-to-use online application. Approved Cash has an easy-to-use online application process that allows customers to apply for a loan from their homes.

Transparent fees and charges. Approved Cash provides customers with clear information about the fees and charges associated with their loans, so they can decide whether to apply for a loan.

Cons

High-interest rates. Like most short-term lenders, Approved Cash charges high-interest rates on its loans, which can make them expensive for customers.

Potential for debt cycle. Customers who are unable to repay their loan on time may be subject to additional fees and charges, which can make it difficult to pay off their loan and may lead to a debt cycle.

Limited availability. Approved Cash has locations in only a few states, which may limit its availability for some customers.

Not a long-term solution. While Approved Cash loans can provide customers with immediate cash when they need it, they are not a long-term solution to financial problems and should not be relied upon as a regular source of income.

Reliability

  1. Established Reputation. Approved Cash has been operating since 2004, demonstrating a longstanding presence in the lending industry.

  2. Extensive Reach. With over 200 locations across multiple states in the United States, Approved Cash has a broad network, enhancing accessibility for customers.

  3. Qualified Employees. At Approved Cash, approved cash advance employees undergo comprehensive training to ensure they possess the necessary knowledge and skills to effectively assist customers with their financial needs.

  4. Privacy and Security Measures. The company has robust policies in place to safeguard customers' sensitive information, prioritizing their privacy and security.

  5. Regulatory Compliance. Approved Cash is licensed and regulated by both state and federal authorities, indicating adherence to legal requirements and ensuring customers' rights are protected.

  6. Transparent Practices. The company openly discloses all fees and charges associated with its loans upfront, promoting transparency and informed decision-making for customers.

  7. Positive Customer Feedback. While acknowledging imperfections, Approved Cash generally receives positive reviews from customers, indicating a track record of reliability and professionalism.

  8. Regulatory Oversight. Being subject to regulatory oversight adds a layer of assurance for customers regarding the legitimacy and reliability of Approved Cash's operations.

How to Apply for an Approved Cash?

Apply for a Loan

  1. Visit website. Start by going to official page Approved Cash. Decide whether you need a Payday Loan or a Title Loan.

  2. Location Search. Use the website to search for a location near you. This is important as you may need to complete certain steps in person.

  3. Pre-Application Form. Complete the pre-application form available on the website to get pre-qualified.

  4. Loan Application. For detailed loan application steps, you may need to either apply online, visit one of their convenient locations, or call 833-979-6654 to get pre-qualified.

  5. Required Documents. Prepare and bring the necessary documents based on the type of loan you are applying.

  6. Final Steps. Follow through with any additional instructions provided by Approved Cash to complete your loan application. This might involve verifying your information, discussing loan terms, and signing agreements.

Conditions and Requirements

Conditions

  1. Availability. Approved Cash operates under the business name Flex Revolution, LLC and provides services in the following states: Alabama, Louisiana, Michigan, Mississippi, Oklahoma, South Carolina, Nevada, Idaho, Utah, Texas.

  2. Loan amount. The loan amount you can qualify for with Approved Cash will depend on your creditworthiness, income, and other factors. Payday loans typically range from $100 to $1,500, while installment loans and title loans may allow you to borrow more.

  3. Repayment terms. Repayment terms for Approved Cash loans will depend on the type of loan you apply for. Payday loans are typically due on the borrower's next payday, while installment loans may be repaid over several months. Title loans may also be repaid over several months, depending on the terms of the loan.

  4. Interest rates and fees. The interest rates and fees associated with Approved Cash loans will depend on the type of loan you apply for and the state in which you live. Payday loans typically have higher interest rates and fees than installment loans or title loans.

  5. Eligibility requirements. To qualify for an Approved Cash loan, you must be at least 18 years old, have a regular source of income and have a valid bank account. You may also be required to provide proof of income and identification.

  6. Repayment options. Approved Cash offers several repayment options for its loans, including in-person payments, online payments, and automatic payments. It is important to understand the repayment options available to you and to make sure that you can make your payments on time to avoid additional fees and charges.

Requirements

Payday Loan

  1. Valid Government ID. A government-issued identification card to prove your identity.

  2. Most Recent Pay Stub. To verify your income.

  3. Proof of Social Security. A document to prove your Social Security number.

  4. Most Recent Bank Statement. To confirm your financial status and account activity.

  5. Blank Check. Required for the loan application process.

Title Loan

  1. Valid Government ID. A government-issued ID to confirm your identity.

  2. Current Pay Stub. To prove your current employment and income level.

  3. Vehicle Title. The title of your vehicle, which will serve as collateral for the loan.

Installment Loan

  1. Your identity card. A government-issued identification document, such as a driver's license or passport, verifying your identity.

  2. A proof of your social security. Documentation, such as a social security card or official letter, confirming your social security number.

  3. A proof of your income. Documents such as pay stubs, tax returns, or employment contracts demonstrating your earnings and financial stability.

  4. A confirmation of your residence. Documents like utility bills, rental agreements, or official letters verifying your current address.

  5. Your latest bank statement. A record of your recent banking transactions and account balance, usually provided by your bank or financial institution.

Ways to Receive the Money

If you are approved for a loan from Approved Cash, there are various ways you can receive the funds depending on the type of loan you've applied for. For payday loans, the funds are typically directly deposited into your bank account, often on the same day as your application. With installment loans, the funds are also deposited into your bank account, but they may be released in multiple disbursements over the loan's duration. On the other hand, if you've applied for a title loan, you'll likely receive the funds in the form of a check. However, before accepting any loan, it's crucial to carefully review the terms and conditions to understand how and when you'll receive the funds, as well as any associated fees or charges.

Products

  1. Payday Loans. A payday loan is a short-term loan designed to provide customers with immediate cash when they need it most. Payday loans typically have high-interest rates and are due on the borrower's next payday. There are also known as cash advances.

  2. Installment Loans. Approved Cash also offers installment loans, which are longer-term loans that are repaid in installments over several months. Installment loans can be a good option for customers who need to borrow more money and prefer to repay it over time.

  3. Title Loans. Title loans are secured loans that use the borrower's vehicle as collateral. Customers can borrow money against the value of their vehicle and repay the loan over time.

  4. Check Cashing. Approved Cash offers quick check cashing services with competitive rates for various check types, including money orders, payroll, personal, cashier's, government, income tax refund, and insurance settlement checks.

Other Loans

Reasons for Loan Refusal

Check Credit Score

Approved Cash does not specifically list reasons for loan refusal, possible to infer several potential factors that could lead to a loan application being denied. These factors typically include insufficient income or unstable employment history, which may affect the applicant's ability to repay the loan. A lack of required documentation such as a valid government ID, recent pay stubs, proof of Social Security, a recent bank statement, or a blank check for payday loans, and a clear vehicle title for title loans, could also be grounds for refusal. Approved Cash emphasizes the importance of providing complete and accurate documentation along with meeting their specific loan requirements to facilitate a smooth approval process.

How to Repay an Approved Cash?

Repay

Repaying an Approved Cash loan, particularly payday loans, typically occurs automatically, with borrowers writing a check from their personal checking account to ensure full repayment. However, repayment conditions can vary based on the borrower's state of residence. Making payments through the website account is often the simplest method. The specifics of loan payment terms may also vary, as Approved Cash collaborates with different banks, detailed in the loan documents.

Loans like Approved Cash

CashNetUSA

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CashNetUSA has been a trusted source for swift financial assistance during emergencies since 2004. If you need a $500 – $1,000 online loan, look no further, as CashNetUSA may have the solution you seek. Their fast funding options enable them to address unexpected expenses that require immediate attention. Whether it's a medical emergency, car repair, or any unforeseen financial setback, CashNetUSA is dedicated to providing timely support.CashNetUSA

Speedy Cash

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Speedy Cash is a prominent financial institution catering to the urgent financial needs of residents in 27 states. With a diverse array of services, the company specializes in offering payday loans alongside various other types of loans. Whether customers require a small sum of $50 or seek more significant assistance with larger expenses, Speedy Cash is ready to address their financial requirements promptly with up to $1,500 payday loans. One of the key advantages of Speedy Cash is its remarkably swift turnaround time, with loan applications being processed and approved within just one day, ensuring that individuals can access the funds they need without unnecessary delays.Speedy Cash

Cash Store

Apply For a Loan

At the Cash Store, customers can now access installment loans up to $3000, providing them with a practical solution for financial needs. With a fixed APR personal loan product that spans from 390% APR up to 780% APR, individuals can secure the funds they require while knowing exactly what to expect in terms of interest rates. The rates may vary depending on the state, ensuring customers are presented with options tailored to their specific location.Cash Store

Ace Cash Express

Apply For a Loan

Ace Cash Express is a reputable financial services company that provides installment loans in several states, catering to individuals facing emergencies or unforeseen expenses. In Delaware, borrowers can access up to $2,000; in Florida, Missouri, and Texas, loan amounts range from $100 to $2,000. This flexible loan offering ensures that customers can obtain the necessary funds swiftly and conveniently. Whether it's a medical emergency, urgent car repairs, or any unexpected financial burden, Ace Cash Express aims to offer a reliable solution to its clients in times of need.Ace Cash Express

Check Into Cash

Apply For a Loan

Check Into Cash is a reputable financial service provider that offers Installment Loans. These loans allow individuals to borrow a certain amount of money, typically ranging from $50 to $5,000, depending on the laws of their state. The maximum loan amount varies from one state to another, ensuring compliance with local regulations. With Check Into Cash, borrowers can access the funds they need to cover unexpected expenses or manage financial challenges.Check Into Cash

Approved Cash

Apply For a Loan

Approved Cash is a trusted financial institution specializing in offering payday loans and cash advance services, catering to individuals needing immediate financial assistance. Whether you're facing unexpected expenses or find yourself short on funds, Approved Cash is here to provide the solution you need today. Applying for their loans is straightforward, ensuring quick access to the required funds.Approved Cash

Editorial Opinion

Approved Cash stands out as a reputable American lender, offering a diverse array of financial solutions tailored to meet the immediate needs of its customers. Founded in 2004 and headquartered in Cleveland, Tennessee, with over 200 branches spread across several states, the company is committed to providing fast and accessible financial assistance regardless of credit history. Their online application process is user-friendly, allowing clients to apply for loans from the comfort of their homes, and the company boasts a swift approval process, often resulting in same-day fund disbursement. With a transparent fee structure, a no-credit-check policy for payday loans, and a strong emphasis on customer service evidenced by their numerous branches and accommodating staff, Approved Cash emerges as a dependable financial partner for individuals seeking reliable and convenient lending solutions.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

  2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Methodology

At Finanso, we've carried out a comprehensive analysis of over 100 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional Resources

Sources

FAQ

How Do you Qualify For an Approved Cash Loan?

You must meet certain eligibility requirements to qualify for an Approved Cash loan. First, you must be at least 18 years old and have a valid government-issued ID. Second, you must have a regular source of income, such as a job or benefits from the government. Third, you must have an active checking account in your name. Finally, you must be a resident of a state where Approved Cash operates and meet any additional state-specific requirements. Once you meet these eligibility requirements, you can apply for a loan online or in person at an Approved Cash location. The loan application process typically involves providing personal and financial information, such as your name, address, income, and bank account details. Once you submit your application, Approved Cash will review it and determine whether to approve your loan.

How Much Can You Borrow From Approved Cash?

The amount you can borrow from Approved Cash will depend on several factors, including your income, credit history, and the type of loan you apply for. Generally, payday loans from Approved Cash range from $100 to $1,500, while installment loans and title loans may allow you to borrow more. The maximum loan amount may also vary depending on the state in which you live and the laws and regulations that apply to lending in that state. To determine how much you can borrow from Approved Cash, you can visit their website or a local branch and apply for a loan. During the application process, Approved Cash will review your financial information and let you know how much you are eligible to borrow. It is important to remember that you should only borrow what you need and what you can afford to repay to avoid falling into a cycle of debt.

Does Approved Cash Approve Everyone?

No, Approved Cash does not approve everyone who applies for a loan. Like any lender, Approved Cash has certain eligibility requirements that must be met in order to qualify for a loan. These requirements may include having a regular source of income, a valid bank account, and being a resident of a state where Approved Cash operates. In addition, Approved Cash will review your credit history, income, and other financial factors to determine your creditworthiness and ability to repay the loan. If you do not meet the eligibility requirements or do not have the necessary income or creditworthiness, you may not be approved for a loan from Approved Cash. It is important to carefully consider your financial situation and ability to repay a loan before applying to avoid falling into a cycle of debt.

Is Approved Cash a Legitimate Company?

Yes, Approved Cash is a legitimate company that is licensed and regulated by the states in which it operates. The company has been in business for over 15 years and has a network of locations in several states in the United States. Approved Cash is a Community Financial Services Association of America (CFSA) member and follows a code of best practices for the payday lending industry. The company also provides transparency around its loan terms, fees, and charges and provides clear information about the risks and benefits of taking out a loan. Additionally, Approved Cash has generally positive customer reviews and has received an A+ rating from the Better Business Bureau (BBB). However, as with any financial service provider, it is important to carefully review the terms and conditions of any loan before accepting it and to ensure that you understand the fees and charges associated with it.

Is Approved Cash a good lender?

Whether or not Approved Cash is a good lender depends on your individual needs and financial situation. The company provides loans to customers who may not have access to traditional banking services and offers quick access to cash when needed. However, payday loans and other short-term loans come with high-interest rates and fees. It is important to consider whether you can repay the loan before accepting it. Additionally, while Approved Cash has generally positive customer reviews, some customers have reported issues with high fees and aggressive collection practices. Overall, if you need quick access to cash and are able to repay the loan on time, Approved Cash may be a good lender for you. However, it is important to carefully review the terms and conditions of any loan before accepting it and only borrow what you need and what you can afford to repay.

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At Approved Cash, we live by our slogan: “Always Easy, Always Approved”.

© Approved Cash
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2.956
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All Approved Cash’s reviews by april 2024
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Complain
1.8
Disadvantages
I received a payment of $3 on my Cash App but am unable to access it. I've updated my phone number on my Cash App account, yet I'm still unable to receive my funds.
Complain
2
Disadvantages
I'm quite puzzled as to why there's a nearly $300 charge when someone sends me money. It seems unfair that you wouldn't deduct your fee from the received funds and provide the remaining balance. Instead, it feels like I'm taking money from my pocket to put it into yours just to access funds that are already in your system waiting for me. I would recommend not using Cash App for receiving funds and opt for direct bank transfers or Western Union to avoid these fees.
Complain
4.4
Advantages
If I could, I would gladly give this business ten stars, as it provides an incredibly welcoming and friendly atmosphere. The service and professionalism displayed by th representaives are consistently outstanding, and they meet your needs promptly and with utmost kindness.
Complain
4.2
Advantages
The representative I interacted with was exceptionally friendly and well-informed. She dedicated ample time to ensure that all details were accurate. My visit was highly satisfactory, and I would not hesitate to return if I require their services again.
Complain
4.6
Advantages
This is an excellent place to secure a loan. Their willingness to work with you and their understanding approach are greatly appreciated. The process is straightforward, and each transaction goes smoothly. I have a high level of appreciation for their services.
Complain
1.6
Disadvantages
The lady in the office where I was handled the process efficiently, but she had to follow the procedures set by the main office. However, my experience became frustrating when, after waiting for over 30 minutes, I had to return home, which was nearly 10 miles away, to retrieve my policy number and SSN. Even after providing the required information, I still had to wait for over an hour for the home office to contact the bank and approve the funds.
It's evident that someone on the other end was not being prompt in their duties, and it left me with a less than satisfactory impression. It felt like the main office didn't value the time and convenience of their customers, especially those returning for a second visit. Regrettably, my overall experience was far from pleasant, and I won't be returning. The inefficiency and lack of customer care from the main office were disappointing.
Complain
4.8
Advantages
The staff is outstanding and always eager to assist. I've been a loyal customer for quite some time, and I've even recommended their services to friends and family.
Complain
2
Disadvantages
As a new borrower, I initially took out a $300 loan, which was the maximum amount available to me. Nevertheless, I am now being charged as if I had taken out a $450 loan, which seems excessive.
Complain
4.4
Advantages
I have a positive opinion of this place because they offer assistance when you're in urgent need of money and provide an uncomplicated payment plan. I initially obtained a car title loan, which I appreciated. However, there's now a $4.95 convenience fee for paying over the phone, which I've expressed my concerns about. Given that I'm on a fixed income, this added cost isn't convenient for me. Consequently, I have to visit the store to make payments in person using a cashier's check, money order, or cash. This is the only downside I've encountered.
On a more positive note, the staff is friendly, welcoming, and efficient. You can receive answers within just 20 minutes, making the process quite quick.
Complain
aggregation.company.allReviews
Overall company rating
3.0
/ 5
14 reviews
Execution of an application
2.7
Support service
3.1
Mobile app
2.9
Service quality
3.1
Your satisfaction level
2.9
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