Approved Cash, operated by Flex Revolution, LLC is a financial services company that offers payday loans, installment loans and title loans in over 200 locations in the United States. Founded in 2004 and based in Cleveland, TN it does business under the following names: Approved Cash in Alabama, Louisiana, Michigan, Mississippi, Oklahoma and South Carolina; Liberty Loans in Nevada; and Liberty Tax & Loans in Alabama, Louisiana, Michigan, Mississippi, Oklahoma, Idaho, Utah and Texas.
Legal name
Approved Cash Advance Corp.
Short name
ACAC
Legal address
1865 Executive Park Dr NW, Cleveland, TN 37312
About Lender
Approved Cash, by Flex Revolution, LLC, is a financial services company that offers payday loans, installment loans and title loans. Founded in 2004 and based in Cleveland, Tennessee, they have over 200 locations in multiple states. In Alabama, Louisiana, Michigan, Mississippi, Oklahoma and South Carolina they are Approved Cash. In Nevada it is Liberty Loans and in Alabama, Louisiana, Michigan, Mississippi, Oklahoma, Idaho, Utah and Texas it is Liberty Tax & Loans.
One of the best things about Approved Cash is their online application process, so you can apply for a loan from the comfort of your own home. The website has all the information you need to decide if you should apply for a loan. They specialize in payday loans—short term loans due on your next payday—for those who need cash fast for unexpected expenses like car repairs or medical bills.
Key Features
Online application. Approved Cash has an easy online application process so you can apply from home.
Multiple locations. The company has over 200 locations in multiple states in the US where a branch manager will help you with what you need.
Fast approval. The approval process is fast so you can get your cash the same day you apply for a loan.
No credit check. Approved Cash doesn’t do credit checks for payday loans so it’s a popular choice for those with bad credit or no credit at all.
Transparent fees and charges. On the company's website, you can see clear information on the fees and charges for your loan so you can decide if you should apply
Pros and Cons
Pros
Fast approval. Approved Cash has a fast approval process so you can get your cash the same day you apply for a loan.
No credit check. The company doesn’t do credit checks for payday loans.
Online application. Approved Cash has an easy online application so you can apply from home.
Cons
High interest rates. Like most short term lenders Approved Cash charges high interest rates.
Debt cycle. If you can’t pay your loan on time you may be charged additional fees and charges which can make it hard to pay off your loan and may lead to a debt cycle.
Not a long term solution. Approved Cash loans can get you cash when you need it but are not a long term solution to your financial problems and should not be used as a regular income.
Reliability
History. Approved Cash has been around since 2004.
Privacy and Security. The company has strong policies in place to protect customer information, privacy and security.
Licensed and Regulated. Approved Cash is licensed and regulated by state and federal authorities so you know they are following the rules and your rights are protected.
Customer Reviews. While not perfect, Approved Cash gets good reviews from customers so they have a track record of being reliable and professional.
Regulated. Being regulated means an extra layer of protection for you that Approved Cash is a legitimate and trustworthy company.
Visit website. Start by going to official page Approved Cash. Decide whether you need a Payday Loan or a Title Loan.
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.
Pre-Application Form. Complete the pre-application form available on the website to get pre-qualified.
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.
Required Documents. Prepare and bring the necessary documents based on the type of loan you are applying.
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
Loan Amounts. $100 to $1,500 for payday loans, more for installment loans and title loans.
Interest Rates and Fees. Varies by loan type and state. Payday loans have higher interest rates and fees than installment loans or title loans.
Repayment Terms. Payday loans due on your next payday, installment loans over several months.
Requirements
Government ID. Government issued ID to verify your identity.
Most recent pay stub. Proof of employment and income.
SSN. Documentation of your Social Security number.
Bank statement. Evidence of active bank account.
Blank check. Blank check from your bank account for loan processing.
Ways to Receive the Money
If you are approved for a loan from Approved Cash, there are several ways you can get the cash depending on the type of loan you applied for. For payday loans the cash is deposited directly into your bank account, often the same day you apply. For installment loans the cash is deposited into your bank account but in multiple disbursements over the life of the loan. For title loans you will get the cash in the form of a check. But before you accept any loan make sure to read the terms and conditions so you know how and when you will get the cash and any fees or charges.
Products
Payday Loans. A payday loan is a short term loan to get cash when you need it. Payday loans have high interest rates and are due on your next payday. Also known as cash advances.
Installment Loans. Approved Cash also offers installment loans which are longer term loans repaid in installments over several months. Installment loans are good for customers who need to borrow more and want to pay it back over time.
Title Loans. Title loans are secured loans that use your vehicle as collateral. You can borrow against the value of your vehicle and pay back the loan over time.
Check Cashing. Approved Cash offers quick check cashing with competitive rates for various types of checks, money orders, payroll, personal, cashier's, government, income tax refund, and insurance settlement checks.
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Approved Cash does not list specific reasons for denial but you can infer several possible reasons why your loan application may be denied. These include insufficient income or unstable employment history which can affect your ability to pay back the loan. Lack of required documents such as government ID, recent pay stubs, SSN, recent bank statement or blank check for payday loans and clear title for title loans can also be a reason for denial. Approved Cash emphasizes the importance of providing complete and accurate documents and meeting their loan requirements to make the approval process smooth.
Paying back an Approved Cash loan, especially payday loans, is automatic, borrowers write a check from their personal checking account to pay in full. But repayment terms may vary by state. Making payments through the website is the easiest way. Loan payment terms may also vary as Approved Cash works with different banks as stated in the loan documents.
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Editorial Opinion
Approved Cash is a reputable American lender that offers various financial solutions to meet the immediate needs of its customers. Founded in 2004 and headquartered in Cleveland, Tennessee with over 200 branches in several states, Approved Cash is committed to providing fast and convenient financial help regardless of credit. Their online application process is easy to use, customers can apply for loans from the comfort of their own homes and they have a fast approval process, often same day funding. With transparent fees, no credit check for payday loans and strong customer service as shown by their many branches and friendly staff, Approved Cash is a reliable financial partner for those who need 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
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.
Carefully review all the terms and conditions of your payday loan contract.
Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.
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.
Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.
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.
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.
