About Company
Dash of Cash, a tribal lending entity based in the Mohawk Territory of Kahnawake, stands out as a reliable option for individuals seeking quick financial solutions from $200 to $1000. With a straightforward and user-friendly approach, Dash of Cash simplifies the borrowing process through a quick and easy form that can be completed securely in less than five minutes. Customers can expect to receive an instant approval decision, and if approved, the funds are typically deposited into their checking accounts the next day. The company operates within the legal framework of Mohawk Territory of Kahnawake law and relevant U.S. federal law, with loan agreements subject to these regulations.
Notably, Dash of Cash maintains transparency regarding loan terms and conditions. Moreover, the company is a member of the Online Lenders Alliance (OLA), adding an extra layer of assurance for customers. Dash of Cash's commitment to a fee-free application process, prompt fund delivery, and adherence to legal standards positions it as a reliable choice for those in need of extra cash in a timely manner.
Key Features
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Quick and Easy Application. Dash of Cash offers a streamlined and secure application process, allowing users to fill out a simple form in less than five minutes.
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Instant Approval Decision. Applicants receive an instant decision on their loan approval. If approved, the company's expert customer service team contacts customers promptly to confirm details.
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Compliance with Legal Standards. Dash of Cash operates under the jurisdiction of Mohawk Territory of Kahnawake law and applicable U.S. federal law. Loan agreements are governed by these regulations, with due consideration given to state laws that may offer more favorable terms.
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Flexible Loan Amounts. Eligible borrowers can access up to $1000 initially and $1500 subsequently, dependent on income levels and specific underwriting criteria.
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Transparent Terms. The company emphasizes transparency in loan terms and conditions, providing borrowers with a clear understanding of the borrowing arrangement.
Pros and Cons
Pros
Cons
Reliability
As a lending entity based in the Mohawk Territory of Kahnawake, the company operates within the legal framework of Mohawk Territory of Kahnawake law and relevant U.S. federal law.
Dash of Cash's transparency in terms and conditions further contributes to its reliability, ensuring that borrowers have a clear understanding of the obligations associated with their loans.
It is important to note that Dash of Cash received a Desist and Refrain Order from the California Commissioner of Business Oversight on February 22, 2019. The order revealed that Dash of Cash provided loans with APRs between 550% and 780% to California residents without the required license, violating Financial Code section 22100. The Commissioner cited two instances of unlicensed loans, resulting in the directive for Dash of Cash to cease finance lending or brokering activities in California.
How to apply for a Dash Of Cash loan?
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Visit the Dash of Cash Website. Go to the official Dash of Cash website. Ensure that you are on a secure and official platform to safeguard your personal information.
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Create an Account. Most online lenders, including Dash of Cash, require users to create an account. This involves providing basic information such as your email address and creating a password. Follow the prompts to set up your account.
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Complete the Application Form. Once your account is set up, you'll need to fill out the loan application form. This form typically asks for personal information, including your name, address, employment details, and banking information. Dash of Cash prides itself on a quick and easy form that can be completed in less than five minutes.
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Submit Required Documents. Depending on your application and the specific requirements of Dash of Cash, you may be asked to submit supporting documents. These could include proof of income, identification documents, and bank statements. Ensure that you have these documents ready for a smoother application process.
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Receive Instant Approval Decision. After submitting your application, you'll receive an instant approval decision. If your loan is approved, the expert customer service team at Dash of Cash will reach out to you to confirm the details of your loan.
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Review Loan Terms. Take the time to carefully review the terms and conditions of the loan. Understand the repayment terms, interest rates, and any associated fees. If you have any questions, don't hesitate to contact Dash of Cash for clarification.
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Accept the Loan Agreement. If you are satisfied with the terms, you can accept the loan agreement. This may involve providing an electronic signature to signify your agreement to the terms and conditions.
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Receive Funds in Your Account. Once you've accepted the loan agreement, the approved funds will be electronically deposited directly into your checking account. This process is typically completed the next day, providing you with quick access to the extra cash you need.
Conditions and Requirements
Conditions
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Loan Amounts. Borrowers can access up to $1000 for the first loan and $1500 thereafter. The specific amount is contingent upon income levels and various underwriting criteria.
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Application Process. The application for a Dash of Cash loan is quick and easy, taking less than five minutes to complete. The process involves filling out a secure online form.
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Approval Decision. Dash of Cash provides an instant approval decision. If approved, their expert customer service team contacts the borrower to confirm the details of the loan.
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Fund Disbursement. Approved funds are electronically deposited directly into the borrower's checking account the next day, offering a swift and efficient disbursement process.
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Legal Framework. Dash of Cash operates under Mohawk Territory of Kahnawake law and applicable U.S. federal law. Loan agreements are governed by these legal standards, with consideration for state laws that may offer more favorable terms.
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Application Fees. Dash of Cash emphasizes that the application for a loan is completely free. The company does not require any form of payment prior to the origination of the loan.
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Reapplication Option. Borrowers have the flexibility to apply for a new loan immediately after paying off the existing one. Dash of Cash generally recommends waiting for three business days before reapplying.
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Online Lenders Alliance (OLA) Membership. Dash of Cash is a member of the Online Lenders Alliance (OLA), underscoring its commitment to industry best practices and consumer protection.
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Electronic Deposit. Borrowers receive their approved funds through electronic deposit directly into their checking accounts, providing a convenient and secure method of fund delivery.
Requirements
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Age. Borrowers must be at least 18 years old to qualify for a loan with Dash of Cash.
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Income Verification. Dash of Cash may require proof of income to assess the borrower's ability to repay the loan. This could include recent pay stubs, bank statements, or other documentation demonstrating a consistent income.
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Checking Account. Applicants are required to have an active checking account. The approved funds will be electronically deposited directly into this account.
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Residency. Borrowers typically need to be residents of a state where Dash of Cash operates. Check the company's website or contact customer service to verify eligibility based on your location.
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Legal Compliance. Applicants must agree to comply with the legal standards under which Dash of Cash operates. This includes Mohawk Territory of Kahnawake law, applicable U.S. federal law, and any other relevant state laws.
Ways to receive the money
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Electronic Deposit. The primary method of receiving funds from Dash of Cash is through electronic deposit. Once a loan is approved, the funds are directly and securely deposited into the borrower's checking account. This process typically occurs the next day after loan approval, ensuring quick access to the requested cash.
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Checking Account Transfer. Borrowers are required to have an active checking account to facilitate the electronic deposit of the approved funds. This method streamlines the disbursement process and allows for easy access to the funds.
Products
Short-Term Loans. Dash of Cash specializes in offering short-term loans to individuals in need of quick financial solutions. These loans are designed to provide borrowers with immediate access to extra cash, typically ranging from $1000 for the first loan and $1500 thereafter, contingent upon income levels and specific underwriting criteria.
Other Loans
Alternatives
Big Picture Loans
Big Picture Loans, a wholly owned subsidiary of Tribal Economic Development Holdings, LLC, is a respected lending institution operating as an economic arm and instrumentality of the Lac Vieux Desert Band of Lake Superior Chippewa Indians, a federally recognized tribe. In accordance with Tribal law, the company primarily benefits the Tribe. With a focus on flexibility, customers can avail loans ranging from $200 to $3,500, featuring repayment terms spanning from 4 to 18 months.
River Valley Loans
River Valley Loans serves as a financial solution for those seeking swift funds to address unforeseen expenses. Specializing in same-day installment loans, customers can secure up to $3,000, streamlining the handling of unexpected financial challenges. The tribal installment loans offered by River Valley Loans boast a straightforward and expeditious application process, ensuring borrowers receive the necessary funds promptly.
MaxLend
MaxLend, a notable financial service provider, distinguishes itself by promptly delivering funds, up to $3,000, directly to the borrower's bank account. Operating as an economic development arm and instrumentality of the Mandan, Hidatsa, and Arikara Nation, a federally recognized sovereign American Indian Tribe, MaxLend operates under a sovereign enterprise structure, ensuring efficient and timely financial assistance.
Lendumo
Lendumo, operated by Niswi, LLC, dba Lendumo, is a reputable financial service provider catering to borrowers in need of quick and convenient loans. Supported by the Lac du Flambeau Band of Lake Superior Chippewa Indians, Lendumo combines contemporary financial practices with a commitment to preserving the cultural heritage of its community. First-time borrowers can access loans of up to $1,500, providing a helpful solution for unforeseen expenses, while repeat borrowers have the opportunity to secure even larger amounts, up to $2,500.
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.
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.
