Cashnet USA is an online lender that offers several types of loans depending on where you live, including payday loans, installment loans, and lines of credit. Available loan amount ranges from $100 to $600, while the installment loans and lines of credit range from $100 to $3,500.
Cashnet USA loans are available in over 20 states. The amount and type of loan you might qualify for depends on where you live.
Cashnet USA Varying Loan terms
Cashnet USA charges a fee for cash borrowed. These loan fees, as well as repayment terms, will depend on where you live. In general, you can expect to pay a flat fee and will often have a repayment due date as early as your next payday.
Potential for High Interest Rates
Using all Cashnet USA loans, one thing to keep in mind is that the annual percentage rate, or APR, tends to be higher than what you may find from other personal loan lenders. Depending on the type of loan and where you live, your APR could range from the low to high triple digits.
According to the National Consumer Law Center, 36% is the upper limit of what’s considered an affordable interest rate.
Cashnet USA Loans Review
Below are some of the things you should know about Cashnet USA.
- Availability: Cashnet USA loans are available in 29 states, and the types of loans offered vary. Be sure to check if Cashnet USA is available in your state and what loans are offered.
- Potential to receive funds quickly: If your loan application is approved, Cashnet USA says you could get the money transferred to your bank the same day or next business day.
- Checking account required: In order to qualify for a Cashnet USA loan, you need an active checking account that will accept an electronic transfer of funds.
- Educational resources: Cashnet USA provides interactive tools and educational resources on money management for customers on its website.
- Discount program: Cashnet USA partners with some merchants to provide discounts for borrowers on a range of products.
How to Apply for a Cashnet USA Loan
To apply for a Cashnet USA loan, you have to fill out an online form that asks for some basic personal information and banking details.
You must be a U.S. citizen or permanent resident with a verifiable income and a checking account to apply. If Cashnet USA is able to make an instant decision on your application, you could receive your funds the same day or the next business day.