Applying for a Money Stash loan is straightforward. You begin by visiting their website and filling out an online application with personal, employment, and financial information. The process includes providing details like your income, job status, and banking information. Once submitted, your application is reviewed, and if approved, you can borrow between $100 and $1,500, with installment plans typically lasting around 6 months.
How to Apply for a Money Stash Loan
Visit the Website. Go to the Money Stash Loans website.
Start the Application. Click on the "Apply Now" button.
Enter Personal Information. Provide your first name, middle initial, last name, email, and phone numbers (home/cell and work). Select your birthdate and answer questions about how you heard about the service, military status, and bankruptcy history. Then, click "Next."
Enter Address Details. Fill in your address information and click "Next."
Provide Income Information. Enter your monthly gross income, how often you get paid, and how you receive payments. Click "Next."
Enter Identification Information. Input your Social Security number, driver’s license number, license state, and employment details like job title and months employed.
Submit Bank Information. Enter your bank information and submit the application for review.
Conditions
Loan Amount. Borrow amounts ranging from $100 to $1,500.
Installment Plans. Repayment plans typically last around 6 months.
APR. The Annual Percentage Rate (APR) can go as high as 850%, depending on the loan terms.
Requirements
Active Checking Account. You must have a checking account that has been open for 30 days or more to demonstrate financial stability.
Direct Deposit Paycheck. Your paycheck must be directly deposited into your account, ensuring you have a reliable income source.
Employment for 3 Months or More. You should have held your current job for at least 3 months, showing your ability to maintain steady employment.
Phone Access. You need to have either a home phone or a cell phone for reliable communication.
Monthly Income of $1,000 or More. Your after-tax income should be at least $1,000 to ensure you can repay the loan.
Age and Residency. You must meet the legal age requirement and be a resident in the area where Money Stash operates.
Reasons for Rejection
Insufficient Income. If your annual income is below the required minimum, your application may be rejected due to an inability to meet the repayment obligations.
Lack Of Required Documentation. Failure to provide necessary documents, such as a copy of your paycheck stub, can result in your application being denied.
No Bank Account Or Credit Card. Not having a bank account or credit card as an alternative payment method can lead to rejection since it is a mandatory requirement.
Employment Verification Issues. Inaccurate or unverifiable employment information, such as discrepancies in your employer's details or job title, can cause your application to be rejected.
Age Restriction. Applicants under the age of 18 are not eligible for the program, and any application from individuals below this age will be automatically rejected.
If your application is denied, you will be notified of the decision and may be given the reason why, along with guidance on how to improve your eligibility for future applications.
Is there a credit check when applying for a Money Stash loan?
Money Stash may perform a credit check, but they also consider other factors like your employment and income when reviewing your application.
Can I apply for a Money Stash loan if I’m self-employed?
Yes, as long as you meet the income requirements and can provide documentation to verify your income and bank account activity.
