Loans Like CashNetUSA

Posted on May 17, 2024 by Terryl Payne

CashNetUSA is a big name in the world of US payday lending. The company offers bad credit loans that serve as alternatives to online payday loans. The options you can access include installment loans and lines of credit. However, there are several considerations regarding loans like CashNetUSA, such as their limited accessibility zone, high cost, and low maximum loan amounts.

This makes it critical to consider all the available options before choosing the right one. Here’s a CashNetUSA overview and several alternatives to choose from.

Loans Similar to CashNetUSA Available for Bad Credit Borrowers
CashNetUSA Loans: Everything You Need to Know
How Do Online Loans Like CashNetUSA Work?
Pros and Cons of CashNetUSA Loans
What Can I Expect When I Get a Loan from Companies Like CashNetUSA?
CashNetUSA Alternative: How Does 15M Finance Compare to Places Like CashNetUSA?
How Does 15M Finance Stand out from Direct Lenders Like CashNetUSA?
How to Apply for a Loan via 15M Finance?
Final Thoughts on Sites Like CashNetUSA
FAQ

Loans Similar to CashNetUSA Available for Bad Credit Borrowers

If you wonder what loan you can get with a bad credit score, the table below will help you understand your options:

Loan Types	Overview	Loan Amount	Repayment Terms	APR	Collateral	Credit Checks	Consideration
Payday loans	Payday loans are short-term financial solutions designed for small emergencies. They come with easy approval and high APRs	$100 to $1,000	By your next paycheck, typically within 2 to 4 weeks	Often exceeds 400% (typically a flat fee of $10 to $30 for each $100 obtained)	No	Most lenders consider bad credit borrowers and run only soft credit checks	Payday loans have very high APRs and short repayment terms. This comes with the risk of debt traps. Extra fees for late payments and rollovers can make the sum you owe in interest exceed what you’ve initially borrowed
Installment loans	Installment loans are longer-term solutions for more significant financial needs. With their help, you can get a larger sum and split the total loan cost over several months	$500 to $5,000	2 to 24 months	16% to 100%	No	Most lenders consider bad credit borrowers and run only soft credit checks	APRs are still higher compared to traditional personal loans. A longer repayment term comes with a high total loan cost. Late payments can damage your credit score
Cash advances via apps	Cash advance apps are tools offering small amounts against a borrower’s next paycheck. They often charge no interest, but membership fees may be applied	$50 to $500	By your next paycheck, usually in 2 to 4 weeks	Some apps are interest-free, while others come with APRs of over 400%	No	Most lenders consider bad credit borrowers and run only soft credit checks	Some options may be quite expensive. Such loans have low borrowing limits and short repayment periods
Car title loans	Car title loans are short-term loans that use a borrower’s car as collateral. You’re allowed to use your vehicle within the loan life	Up to 50% of your car’s title	Up to 30 days	About 300%	Yes, your car’s title	Most lenders consider bad credit borrowers and run only soft credit checks	Short repayment terms, higher amounts, and hefty APRs make the loan difficult to repay. You can lose your car if you default on your loan.
Payday Alternative Loans (PALs)	PALs are more reasonable alternatives to regular payday loans offered by credit unions. They come with longer repayment terms and lower APRs	$100 to $2,000	2 to 12 months	Up to 28%	No	Come with a hard credit pull	You need to be a CU member to apply. PALs typically involve a hard credit check that will drop your credit score by a few points
Pawn shop loans	Pawn shop loans are cash loans you can get against your valuable assets	25% to 60% of your collateral’s value	30 to 60 days	Around 200%	Yes, any valuable item you own	None	A pawnbroker will seize and sell your collateral if you don’t repay what you owe on time

CashNetUSA Loans: Everything You Need to Know

CashNetUSA is a direct lender (in some states, such as Texas, it works like a Credit Access Business) that offers loans and lines of credit to borrowers with bad credit. The service assesses factors other than just your credit score at the decision-making stage. However, it only operates in 12 states, such as Alabama, Delaware, Idaho, Kansas, Louisiana, Mississippi, Missouri, South Carolina, Tennessee, Texas, Utah, and Wisconsin.

The company has a 4.6 out of 5 rating on Trustpilot and a 1.3 out of 5 rating on Best Company. With CashNetUSA you can borrow up to $3,000, depending on your state, income, and credit score. Funding times are typically quick due to no hard credit checks performed. Borrowers can access the funds on the same day if they receive approval before 1:30 PM, Monday to Friday.

The service has flexible repayment periods from 3 to 12 months, making its products more manageable compared to classic payday loan options. Lines of credit typically have no specific term length due to their revolving nature. However, their APRs are still on the high side, ranging from 222% to almost 600%.

How Do Online Loans Like CashNetUSA Work?

At CashNetUSA, borrowers can access online installment loans and lines of credit, both available to people with less-than-perfect FICO scores. When it comes to flexible installment loans, the repayment is made in equal monthly payments within a set period. They are typically conducted via an ACH payment, which involves electronic debit from your bank account. If you make check or money order payments, you need to mail them to CashNetUSA’s payment processing center.

A line of credit is an open-end credit with a certain minimum payment due each month. The amount you need to pay will be determined based on how much you draw. On the day after your billing period ends, you will receive an email notification with a minimum payment amount and the due date specified.

CashNetUSA Loan Terms

The exact loan terms depend on where you live and how much you earn. Here are CashNetUSA borrowing options and limits by state:

State	Loans Available	Loan Amounts	Repayment Terms	Fees and Interest	APRs
Alabama	Line of credit	$2,000 to $3,000	Revolving credit	A transaction fee of 15% of the amount drawn. The daily periodic rate is between 0.6274% – 0.8192%	229% to 299%
Delaware	Line of credit	$100 to $3,000	Revolving credit	A transaction fee of 15% of the amount drawn. The daily periodic rate is between 0.6274% – 0.8192%	229% to 299%
Idaho	Line of credit	$100 to $3,000	Revolving credit	A transaction fee of 15% of the amount drawn. The daily periodic rate is between 0.6274% – 0.8192%	229% to 299%
Kansas	Line of credit	$100 to $3,000	Revolving credit	A transaction fee of 15% of the amount drawn. The daily periodic rate is between 0.6274% – 0.8192%	229% to 299%
Louisiana	Line of credit	$100 to $3,000	Revolving credit	A transaction fee of 15% of the amount drawn. The daily periodic rate is between 0.6274% – 0.8192%	229% to 299%
Mississippi	Installment loan	$300 to $2,500	5 to 12 months	Up to 25% fee per month	249% to 299%
Missouri	Line of credit	$550 to $2,800	Revolving credit	The daily periodic rate is between 0.6274% – 0.8904%	229% to 325%
South Carolina	Line of credit	$650 to $2,800	Revolving credit	The daily periodic rate is between 0.6274% – 0.8904%	229% to 325%
Tennessee	Flex loan (line of credit)	$100 to $3,000	Revolving credit	A daily customary fee between 0.56% – 0.69% of your principal balance. The daily periodic rate is 0.06575%	229% to 275.85%
Texas	CAB installment loan options	$300 to $2,500	Up to 180 days	A CAB fee of $0.40 – $0.80 per $100 borrowed per day, plus 10% interest on the loan amount and CAB fees	222% to 579%
Utah	Line of credit	$100 to $3,000	Revolving credit	A transaction fee of 15% of the amount drawn. The daily periodic rate is between 0.6274% – 0.8192%	229% to 299%
Wisconsin	Installment loan and line of credit	Loan: $300 to $1,000 Credit line: $1,550 to $3,000	Loan: 6 to 9 months	Loan: not specified Line of credit: a transaction fee of 15% of the amount drawn. The daily periodic rate is 0.8192%	Loan: 241% to 449% Line of credit: 399%

Pros and Cons of CashNetUSA Loans

Loans offered by CashNetUSA may be a lifeline for people who can’t access traditional personal loan options due to bad credit. However, they also have their drawbacks that need to be considered. Here’s a closer look at their pros and cons.

Pros:

No hard credit checks; Same-day funding is possible; Any credit is considered; Flexible repayment terms; Convenient online application process.

Cons:

Very high APRs; Available in 12 states only; Extra fees may be applied; On-time repayment doesn’t help you build credit.

What Can I Expect When I Get a Loan from Companies Like CashNetUSA?

Loans from companies like CashNetUSA can be requested online. You only need to sign up for an account and complete a simple application form. In some cases, the service may also ask you to provide supporting documents, such as proof of income or identity. If approved, the money will then be deposited into your active bank account within the same or the next day, depending on the time of approval.

You can expect approval if you meet the following basic criteria:

No younger than 18 years old; Have a verifiable source of income; Have an active checking account; A US citizen or permanent resident.

However, keep in mind that there may also be requirements applied to your income level. The lender will also assess your debt-to-income ratio to make sure you can afford this new potential debt.

CashNetUSA Alternative: How Does 15M Finance Compare to Places Like CashNetUSA?

While loans from CashNetUSA can help borrowers with a poor credit history access much-needed financing, they may not work for everyone due to their limited loan amounts and high costs. Luckily, there are other ways to borrow money fast with any credit.

15M Finance differs from places like CashNetUSA. Although it also offers flexible financial solutions, the repayment terms are up to 24 months, making it easier to adjust your monthly payments to your budget. You can use the loan for a wider range of needs thanks to the higher borrowing limit of up to $5,000. If you seek just a small amount to make it to your next paycheck, the company also offers payday loans online. These loans eliminate the need to take on long-term financial obligations while reducing the total loan cost.

At 15M Finance, you are not limited to options offered by only one direct lender. Instead, you can fill out a single application form and rest assured your loan request will be sent to multiple loan providers, increasing your approval chances.

How Does 15M Finance Stand out from Direct Lenders Like CashNetUSA?

15M Finance is not a direct lender. It works more like a loan marketplace that brings multiple online lenders under one roof. Our partners specialize in helping borrowers with bad and poor credit scores. With their help, you can get emergency money quickly, typically on the same or next business day.

As you can access multiple offers at once, loan providers are forced to offer competitive interest rates and favorable loan conditions. Thus, you get a higher chance of approval on good terms. The 15M Finance platform provides a fast and simple application process that you can complete online. It also charges no extra fees for its service. All these make borrowing money smooth and plain.

How to Apply for a Loan via 15M Finance?

You can get a loan via 15M Finance by following just 3 simple steps:

Fill out an online application form on the website. It usually takes less than 5 minutes as it requires just some basic information about you and your financial situation.
Wait for an approval decision. One of the lenders from our database will review your loan request and send you a response via email. If approved, you need to read the terms of your loan agreement and sign the contract if everything suits you.
Receive the funds. The loan amount will be deposited into your specified bank account by the end of the next business day or faster.

Final Thoughts on Sites Like CashNetUSA

Sites like CashNetUSA offer accessible financing options to borrowers who can’t access traditional personal loans. They may be very handy if you need quick cash for an emergency but have bad credit. However, there’s also a cost you pay for the risk lenders take when giving money to you. These usually include high interest rates, limited loan amounts, and short repayment periods.

If you’re looking for an alternative to loans like CashNetUSA, 15M Finance is here to help. We can provide you access to offers from multiple loan providers, all offering their unique loan terms. With our help, you can get a higher loan amount for a longer term and at a competitive interest rate in just one business day.

FAQ

Is CashNetUSA Legit and Safe to Use?

CashNetUSA is a legal company that operates under federal and state laws. The service uses the McAfee SECURE technology to protect your data, so using it is safe. However, you need to fully understand the terms and loan costs, as some options may be very expensive and difficult to manage.

Where Can I Find Loans Similar to CashNetUSA?

You can access options from multiple lenders offering loans similar to CashNetUSA by applying via 15M Finance. You only need to fill out an application form on the website.

How Much Do Payday Loans Like CashNetUSA Cost?

An average payday loan costs from $10 to $30 per each $100 borrowed, which can be over 400% in terms of APR. However, CashNetUSA doesn’t offer payday loans. It has installment loans and lines of credit with APRs ranging from 222% to 579%.

Does 15M Finance Offer Personal Loans Like CashNetUSA?

Sure! 15M Finance offers bad credit personal loans of up to $5,000 that can be repaid in equal monthly installments within up to 24 months.

Are There Any Apps Like CashNetUSA?

15M Finance has a convenient app like CashNetUSA available for both Android and iOS users. It makes the borrowing process even smoother, allowing you to get money on the go in a few clicks.

Can I Build Credit with Online Loans Like CashNetUSA?

CashNetUSA doesn’t report your loan transactions or any other loan details to three major credit bureaus. This means that applying for a loan and paying it back on time won’t affect your FICO score. However, some lenders may have other policies and provide credit-building opportunities.

Learning resources:

At 15M Finance, we strive to educate people and boost their knowledge regarding finances. Here are a few articles you may also find useful:

https://www.experian.com/blogs/ask-experian/what-is-a-credit-builder-loan/ – Learn more about loans that can help you build credit https://www.cnbc.com/select/best-payday-loan-alternatives/ – Discover the best payday loan alternatives https://www.marketwatch.com/guides/personal-loans/peer-to-peer-lending/ – Find out what is peer-to-peer lending