Intro: Who Is CashUSA Loans?
This Was How I Had To Apply
On the second page, you need to fill in the following information:
- Loan Amount - The minimum is $500 and the maximum is $10,000.
- Your Credit Type - The dropdownn box has various choices: Excellent (720+), Good (660 to 720), Fair (500 to 660), Poor (Below 500), Not Sure (if you do not know your credit score).
- Loan Reason - You have the following choices from the dropdown box: Debt Consolidation, Emergency Situations, Auto Repair, Auto Purhases, Moving, Home Improvement, Medical, Business, Vacation, Taxes, Rent or Mortgage, Wedding, Major Purchases, Student Related/Education, Other.
- Your Full Name
- Date of Birth
- You will be asked if you are a military member
Once You have filled in the info, you can move to proceed to step 2.
In step 2, you have to fill in the following information.
- Email Address
- Phone Number
- Contact Time
- Address - which is already pre-filled from the information you have given earlier
- You will be asked if you won your home
- Income Source - there are 4 choices: Job Employment, Self-Employment, Benefits, Unemployed
- Time Employed - the choices are less than 1 year, 1-2 years, 2-3 years, 3-4 years, 4-5 years and more than 5 years.
- When you get paid
- Employers Name & Phone number
- Monthly Gross Income
- Drivers License or State ID
- Social Security Number
- Bank Account Type - either checking or savings
Once you have filled in step 2, you will proceed to step 3 where you fill in your bank account number and routing number.
After that it takes a couple of minutes for you to get offers from lenders that will approve you. Once, you get the offers, you have to take your time and go through the terms and conditions before you pull the trigger. I found the process to be relatively quick and easy.
Typical Loan Offers
Requirements and Qualifications
- $1,000 Minimum Income After Taxes - You need to have a income of at least $1,000 a month after taxes. You can include benefits like social security etc.
- Checking Account - You need a checking account to apply for a loan through cashusa.com because that is how your cash (or loan) will be deposited into your account.
- Both U.S. Citizens and Permanent Residents Can Apply - Most loan aggregators only allow U.S. Citizens to apply. CashUSA is one of the few that also allows permanent residents to apply.
- Work & Home phone numbers and email address - This is a very standard requirement for any loan that you take
- All Credit Types Accepted - All credit types are accepted. However, given that the interest rate ranges from 5.99% to 35.99%, you score cannot be too damaged (ie in the 400 range). I think your credit scores should be at least in the mid 500 range.
Competition
| Loan Co | Amount | Excluded States | Not Eligible | Min Income | Credit Score |
|---|---|---|---|---|---|
| CashUSA.com | $500-$10,000 | N.A. | N.A. | $#1,000/m | N.A. |
| 24/7 Loan Pros | $1,000-$35,000 | NY, VT, WV, AK | No Military Personnel | $800/m | >540 |
| 100 Lenders | $100-$40,000 | CT, NH, WA, VT | No Military Personnel | $1,000/m | N.A. |
| Zippy Loans | $100-$15,000 | NY | N.A. | N.A. | N.A. |
| Viva Loans | $100-$15,000 | NY, WV, DC | N.A. | N.A. | N.A. |
| Signature Loans | $100-$35,000 | N.A. | N.A. | N.A. | N.A. |
| Next Day Personal Loans | $100-$40,000 | CT, NH, WA, VT | No Military Personnel | N.A. | N.A. |
| Life Loans | $100-$40,000 | CT, NH, WA, VT | No Military Personnel | $1,000/m | N.A. |
| Honest Loans | $400-$50,000 | NY | No Military Personnel No Federal Employees | $8,000/m | N.A. |
| Fast 5k Loans | $100-$10,000 | NY, VT, WV, AK | No Military Personnel | $800/m | >540 |
| Excel Online Loans | $500-$20,000 | NY, DC, WV | N.A. | N.A. | N.A. |
| Bad Credit Loans | $100-$10,000 | N.A. | N.A. | N.A. | N.A. |
If you look at the table above, you can see that cashusa.com has several advantages over it's peers. Firstly, they do not exclude applicants from certain states. Many other aggregators do. Secondly, they do not exclude any profession. This may seem trivial to someone who is looking a loan online for the first time but if you have been around long enough, you will know that other aggregators might exclude military personel or folks who work for the federal government. There is also no minimum score requirements so even those of you with really bad credit can apply.
The only nit pick I would have is that some of you may be looking for a personal loan of more than $10,000. If that is the case, there are other aggregators like Zippy Loans, 100 Lenders and 24/7 Loan Pros that will have lenders in their network give more than $10,000 in loan amounts.
Pros and Cons
pros
- Reasonable range of loan amounts - You can get a decent range of loan amount with lenders from CashUSA network ($500 to $10,000)
- No minimum credit score - CashUSA will accept applicants with any credit score.
- Available in ALL States - CashUSA lenders will lend to folks in every state (unlike some other aggregators which exclude certain states).
- Anyone can apply - This is sound a little weird but some aggregators restrict certain groups of people like folks from the military or folks who work for the federal government.
- Permanent Residents Can Apply - Many lenders and aggregators will only lend to US Citizens. CashUSA will lend to permanent residents as well (ie Green Card Holders).
- Process is Fast - The application process is fast, easy and relatively painless.
Cons
- Loan Limit Capped at $10,000 - Most of you should not find this an issue but if you need a loan amount larger than $10,000, then you have to look elsewhere for a aggregator that will loan you a larger amount.
Our Take
The only thing you have to be aware of is that you can request a loan amount of between $1,000 and $10,000. If you need less than $1,000 or more than $10,000, then you have to go with another network like ExcelOnlineLoans (which lets you borrow up to $20,000). You could also apply loans directly from banks like Merrick Bank that allows folks with scores as low as 580 to apply for a personal loan.
To sum up, I think CashUSA is one of the better loan aggregators around because they do not impose restrictions that other networks impose.
FAQS 
