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Archive for April, 2009

Installment vs. Payday Loans

Friday, April 3rd, 2009

At CashNetUSA, we are dedicated to offering you convenient loan options that meet the requirements of your state legislation. We are now proud to announce that CashNetUSA is offering new loan options for consumers in a select number of states.

These new installment loans are similar to our normal payday offerings, in the fact that they are simple to apply for, offer quick approval and funding and can help you meet immediate short-term money needs.

However, with installment loans, customers can apply for a larger loan amount and repay their loan gradually over time. This new option is a great fit for customers with larger emergency expenses such as last-minute home repair needs, outstanding medical bills or emergency car repairs.

Currently, installment loans are offered to customers who qualify in New Mexico and Illinois. For more information on this exciting new program and the Rates & Terms involved, please click here.

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* CashNetUSA and third party lender funds are generally deposited via ACH for delivery next business day if approved by 9pm CST Mon. – Thu. or by 7pm CST Sun.

** Due to state and verification requirements, not all applicants for online loans may be eligible for instant approval by CashNetUSA or third party lenders.

*** Some customers applying for payday loans or installment loans may be required to submit additional documentation due to state law and qualification criteria.

† CashNetUSA or third party lender does not perform traditional credit checks as part of its credit transaction approval process, but does verify applicant information via national databases including, but not limited to, Tele-Track and CL Verify. If you have defaulted on past transactions, you may be declined for a cash advance from CashNetUSA.

‡ Maximum funded amount for payday loans or installment loans depends on qualification criteria and state law. See Rates and Terms for details.

++ Please see Rates and Terms to check the availability of online loans in your state. CashNetUSA is not a lender in all states. In some states, CashNetUSA will (i) act as a broker to arrange a loan between you and a third party lender, or (ii) connect you with a financial matching service.

Customer Notice: Payday advances should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling.