About Lender
Cash Central is a online lender that is secure, state licensed, so you’re safe and private. They follow state regulations, protect your information and are online 24/7. You can apply from the comfort of your own home, knowing your transactions are protected by state law, so you can trust Cash Central and their secure lending. Casg Central can offer various loan products, including payday loans and installment loans to meet short term needs or cover unexpected expenses. Loan availability and approval is subject to state regulations, eligibility requirements and a credit check so they can lend responsibly. Cash Central follows state laws and the USA PATRIOT Act so they can be compliant, safe for you and provide financial help in a legal and transparent way.
Key Features
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Payday Loans. Cash Central payday loans are short term loans due on your next payday.
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Installment Loans. For customers who need to borrow more or need more time to pay back the loan.
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Available State. Installment loans from Cash Central are only available in select states: Alabama (AL), Delaware (DE), Idaho (ID), Missouri (MO), South Carolina (SC), Utah (UT), Wisconsin (WI).
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Fast Funding. If approved, you can get your loan funds as soon as the next business day depending on when you apply and what funding method you choose.
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Repayment Options. Cash Central offers various repayment options: pay the loan off in full on the due date or make partial payments to extend the loan term.
Pros and Cons
Pros
Fast Funding. They company gets you approved fast and can get you funds as soon as the next business day, so you can get money fast.
Easy Application. The application is easy and online.
Customer Service. The lender has good customer service and is responsive to customer needs and concerns.
Cons
High Fees. These loans have high fees, so borrowing can be costly for some.
Short Terms. Cash Central loans have short terms so some customers may not be able to pay in full on the due date.
Limited Availability. The lender only operates in a few states so may not be available to all customers.
Debt Cycle Risk. As with any short term loan, there is a risk of debt cycle if you can’t pay back your loan on time which can lead to additional fees and financial stress.
Reliability
State Licensed and Registered. Cash Central is a state licensed and registered lender so their services are fully compliant with legal standards and regulations.
Secure and Private. They prioritize customers’ security and confidentiality. With 24/7 online access, you can apply for a loan from the comfort of your own home knowing your information is safe.
USA PATRIOT Act. Cash Central complies with the USA PATRIOT Act, a federal law that requires financial institutions to obtain, verify and record information of each person who opens an account.
State Regulations. By following state regulations, Cash Central is committed to legal and reliable lending.
How to Apply for a Cash Central Loan?
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Visit Website. Start by navigating to the Cash Central website. If you're new to Cash Central, click on the "Apply Now" button. This will direct you to the application process for new customers.
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Fill Out Application. You will be required to fill out an application form with your personal, employment, and financial information. This includes your name, address, date of birth, and other details necessary for identification and loan assessment.
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Credit Check and Verification. Cash Central will perform a credit check and verify your information to ensure you meet the eligibility criteria. This process is subject to state regulations and may require additional verification, which can delay the lending decision.
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Submit Application. Once you have completed the application and reviewed all the necessary information, submit your application for review.
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Wait for Approval. Approval times may vary. Cash Central will notify you of your application status. Some applications may require additional verification, affecting the time to receive a decision.
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Receive Funds. If approved, you will receive the loan funds directly on your bank account.
Conditions and Requirements
Conditions
High Interest. Interest rates go up to 739.99%.
Short Terms. Loan terms can extend up to 60 days.
Loan Amounts. $2,000 is the maximum borroweable amount.
Requirements
Verifiable Income. You must have a verifiable income.
Checking Account. Must have a checking account in your name.
Phone Number. Current and valid phone number.
Social Security Number. Must have Social Security Number.
Minimum Age. Must be 18 years old (19 years old in Alabama).
Ways to Receive the Money
Cash Central payday online loans will deposit the loan proceeds directly to your checking bank account once you’re approved. You will need to provide your bank account information to receive the money. If you apply and are approved by 7:45 pm EST, your loan will be funded the next business day. If you apply on Friday or Sunday before 7:45 pm EST, your loan will be funded the following Monday. If you apply after 7:45 pm EST on Saturday, your loan will be funded the following Tuesday.
Products
Online Payday Loans. Small, short-term loans to cover unexpected expenses until your next payday. Payday loans, also known as cash advances, are paid back in full on your next payday. They are used to bridge the financial gap caused by surprise expenses.
Online Installment Loans. Compared to payday loans, installment loans are available in larger amounts and have a longer term. You get a specific amount and then make payments over time to pay back the loan, usually 6 to 24 months. Installment loans are good when you need more funds than a payday loan can provide and want a longer repayment schedule.
Other Personal Loans
Reasons for Loan Refusal
Loan applications may be denied for many reasons based on the conditions and requirements of Cash Central. First, if the applicant’s creditworthiness doesn’t meet the criteria for the determined APR range, the loan will be denied. On the requirements side, if the applicant doesn’t meet the minimum age requirement for their state or fails the credit check and underwriting approval process, their application will be denied. Additionally, if the applicant doesn’t provide complete or sufficient documentation for identification or residency, their application will be denied. Finally, if the applicant’s financial information doesn’t meet the eligibility criteria for the loan amount requested, their application will not be approved.
How to Repay a Cash Central Loan?
To pay back a Cash Central payday loan, the full amount is electronically withdrawn from your checking account on the due date. This is a hassle-free way for borrowers. For other repayment options or questions, contact Cash Central. For installment loans, repayment is via electronic withdrawal from the checking account on the due date if the loan is current.
Loans like Cash Central
OppLoans
OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey.
Rise Credit
RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.
OneMain Financial
OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.
Universal Credit
Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.
Editorial Opinion
Important
How to Choose a Lender
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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.
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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.
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Carefully review all the terms and conditions of your payday loan contract.
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Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.
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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.
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Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.
Additional Resources
- Full Cash Central Account Review
- How to Apply for a Cash Central Loan
- How to Repay a Cash Central Loan
- Cash Central Customer Reviews
- All Cash Central Coupons and Promo for February 2025
- Cash Central Loans of February 2025
