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Are you wondering “what is an installment loan?

Are you wondering “what is an installment loan?

An installment loan allows you to pay off your loan over a longer period of time than a traditional payday loan. ” and “how do installment loans work?” You’ve come to the right place! Speedy Cash has answers to your questions.

Installment Loan Process

If you’ve been thinking, “I need a loan fast”, Speedy Cash is the place to go! We are committed to get your money to you as quickly as possible, in some cases, even instantly! Funding times vary depending on how you choose to apply. Here is a breakdown of when you can expect to receive your money:

Apply at a Speedy Cash Location – Simply apply for a loan, providing documentation of your age, identity, income and checking account. You could be approved for a loan on the spot – often in just 10 minutes or less. Upon approval, you will receive your cash right away.

Apply Online – Complete your loan application in a matter of minutes. Upon submitting your application, we will provide you with an instant lending decision. If approved, you can select how you would like to receive your loan funds – which can change how long it will take to receive your installment loan.

Instant Funding to Opt+: Have your funds instantly loaded to your opt+ card (subject to system limitations). This is the fastest funding option available.

Cash at Store Pickup: If you live near a Speedy Cash store, then you can choose to pick up your cash there. Your cash will be available for immediate pick up.

Direct Deposit: If you choose to have your funds direct deposited to your bank account, you will typically receive your funds by the next business day.

Installment Loan Payments

Product types and maximum loan amounts vary by market. Subject to state regulations, eligibility, credit check, underwriting and approval. Rates, terms and conditions apply. Title loans subject to minimum auto value requirements. See associate for details. Lending decisions and funding times subject to system limitations. Some applications may require additional verification, which can delay the lending decision.

Short term loans should be used for short-term financial needs and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling.

The credit decision on your application may be based in whole or in part on information obtained from a national database including, but not limited to, TransUnion, Equifax, LexisNexis payday usa Huntingdon Tennessee or FactorTrust, Inc.

† Instant funding is not applicable for all debit cards and is not available in New Mexico, Ohio or South Carolina. Subject to system limitations. Some restrictions may apply.

NOTICE: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the Consumer Financial Protection Bureau, 1700 G Street NW, Washington DC 20006 and the Federal Trade Commission, Equal Credit Opportunity, Washington DC 20580.

California: Speedy Cash is licensed by the Department of Financial Protection and Innovation pursuant to the California Deferred Deposit Transaction Law. California loans other than deferred deposit loans are issued pursuant to the California Financing Law.

Nevada: The use of check-cashing services, deferred deposit loan services, high-interest loan services or title loan services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

New Mexico: Speedy Cash is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website

Tennessee: The State of Tennessee requires a minimum principal reduction. In order to comply with the minimum state-required principal reduction, Speedy Cash requires that minimum payments include a principal reduction of 2% or $2.50 for Customers who get paid bi-weekly/twice-a-month, or 4% or $5 for Customers who get paid monthly, whichever is greater.

Texas: Speedy Cash operates as a Registered Credit Access Business (CAB). The actual Lender is an unaffiliated third party. Speedy Cash engages in the money transmission and/or currency exchange business as an authorized delegate of MoneyGram Payment Systems, Inc. under Chapter 151 of the Texas Finance Code. If you have a complaint, first contact MoneyGram Payment Systems, Inc. at 1-800-MONEYGRAM . If you still have an unresolved complaint regarding the company’s money transmission or currency exchange activity, please direct your complaint to the Texas Department of Banking: 2601 North Lamar Boulevard, Austin, TX 78705-4294, 1-877-276-5554 (toll free), dob.texas.gov.

Opt+: This card is issued by Axiom Bank or Metropolitan Commercial Bank, Member FDIC, pursuant to a license from Visa. Visa is a registered trademark of Visa USA Inc. All trademarks and service marks are property of their respective owners. ATM: No fee withdrawals at any Speedy Cash or Rapid Cash location. Transaction fees will apply for all other ATMs. No charge loads/unloads at Speedy Cash and Rapid Cash locations only.