FAQ

What is a payday loan?

It's a small (usually under $1,000), short-term, no-collateral, cash advance. It is backed by future income. This may be your next paycheck, a dividend or other type of regular income. The term of the loan is usually 30 days or less.

Payday loans are meant for emergencies. If you find yourself using them to pay regular bills, you should consider credit counseling, debt-management aid or other type of assistance. There are nonprofit agencies that help consumers who have ongoing, excessive debt.

Use payday loans responsibly.

What is an installment loan?

This is a small (usually under $5,000), short-term, no-collateral, cash advance. It is backed by future income. This may be your next paycheck, a dividend or other type of regular income. It is paid back in a set number of scheduled payments. Use installment loans responsibly.

What is a personal loan?

This is a no-collateral loan for up to $35,000, similar to a line of credit. It is backed by future income. This may be your next paycheck, a dividend or other type of regular income. The term of the loan is typically longer than an installment or payday loan. These loans can be used to consolidate debt or pay off high interest credit cards. Use personal loans responsibly.

How much can I borrow?

Payday loans are usually between $100 and $1,000. Installment loans range between $100 and $5,000 and Personal loans are usually between $500 and $35,000. You will make a request for a loan amount. If you receive a loan offer, it may not match the amount you requested. Loan offers may vary for several reasons including the individual lender, employment, income and other factors.

If approved for a payday loan, how quickly could I receive it?

The transfer to your bank account could happen as early as the next business day. Times will vary depending upon your lender and your financial institution. If you have additional questions regarding the transfer time, please contact your third party lender.

What are the minimum requirements to apply for a loan?

Individual, third party lenders have different minimum requirements, but the following constitute typical minimum requirements:

  • Be at least 18 years of age or older
  • Be a U.S. Citizen
  • Have a checking or savings account with direct deposit
  • Have regular income of at least $1,000 per month
  • Have a fair credit rating (for personal loans only)
  • Must Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps, or Navy (or a dependent thereof), serving on active duty under a call or order that does not specify a period of 30 days or less
What information do I have to share in order to register with CashLendupFast?

You will be asked to provide banking, employment and some personal information. This information includes, but is not limited to your name, address, telephone number, place of employment and/or source of regular income, driver's license number, bank account information and social security number.

Is the information I provide secure?

We employs a number of state of the art security measures are designed to keep your information secure. All sensitive data transmitted between your browser and Cashlendupfast uses 128 bit Secure Socket Layer (SSL) encryption technology. Your use of our services is strictly voluntary and is governed by our Terms & Conditions of Use and Privacy Policy.

How long does a loan transaction take?

From the time you register with Cashlendupfast (and are made an offer by an independent, third party lender) the process can be as fast as one business day. A number of factors impact this, including the time of day you apply, the accuracy of your registration, the lender and your financial institution.

When must I repay my loan?

You should contact us for information about the date and time for repayment as specified in your loan agreement.

Will independent, third party lenders perform a credit check and what are the credit implications?

Many will do so. They may check to verify the accuracy of the information you have provided and/or to review your information to see how it compares to the records of national databases. Lenders may verify your social security number, driver's license number, banking information or any other information you provided.

Multiple inquiries to the "Big 3" credit bureaus (Experian, Equifax and Transunion) may result in a lowering of your credit score. Therefore you may want to register for a loan, one at a time.

Will my loan be automatically renewed?

Each state having their own laws regarding automatic renewal of payday loans. Be sure to ask if your loan will automatically renew or if they have to receive your permission first.

Loan renewal will likely result in the addition of fees and interest to your loan balance. Make yourself aware of these fees before agreeing to any loan renewal.

Is approval guaranteed?

There is no guarantee that you will be approved.

What if I am unable to repay my loan according to its terms?

Typical penalties for lack of repayment may include:

  • Addition of late fees
  • Your account being forwarded to a collection agency
  • Report your lack of payment to a consumer credit agency (thereby lowering your credit score)
  • An offer to renew your loan, which will result in additional fees and/or interest