Texas Loan FAQ's

Need quick cash for an emergency, but don’t know where to start? We have answers to your most frequently asked questions about Texas payday loans, title loans, and installment loans.

Consumer Credit Notice

This business is licensed and examined by the State of Texas - Office of Consumer Credit Commissioner. Call the Consumer Credit Hotline or write for credit information or assistance with credit problems.

Office of Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, TX 78705-4207, (800) 538-1579, consumer.complaints@occc.state.tx.us, www.occc.state.tx.us

Texas Loans Basics

A: Yes. As long as your total loan amount does not exceed your initial approval amount, it is possible to have an online loan as well as a payday loan or title loan from a Speedy Cash location.
A: Yes, if you are denied a loan online, you may apply for a loan at a Speedy Cash store. Visit any Texas location to apply in as little as 10 minutes. Our team is happy to discuss the loan options that are available to you, so you can choose the option that best fits your quick cash needs.
A: Yes. If you live near a Texas Speedy Cash location, you can pick up your cash in a store. Apply, receive an instant lending decision, sign your loan documents (if approved) – all online! Then, you can immediately pick up your cash at a Speedy Cash store. No waiting and no hassle. Simply select the store pick-up option when prompted during your application.

CAB Information

A: In Texas, Speedy Cash is a Credit Access Business - or CAB. Basically, this means that we arrange a loan between you and a third party lender. Speedy Cash still services your loan from application to repayment, and will answer any questions you may have about your loan.
A: In the State of Texas, Speedy Cash will arrange for you to receive a loan from a third party lender. Because of this arrangement CAB fees are charged to the borrower. Your periodic CAB fees keep your loan in good standing.
A: CAB fees vary depending on what type of a loan you borrow and where you get your loan. In addition to the CAB fees, you will also be charged lender interest. This interest will be due on your loan due date, while periodic CAB fees will need to be made throughout the duration of your loan to keep your account in good standing. Interest varies based on the type of loan you borrow.

Title Loan FAQs

A: Yes, a clear Texas title is a requirement. In addition, you will need the following to apply:

  Current registration

  Vehicle in driving condition

  Valid ID

  Proof of address

  Working phone number

A: To apply, bring your clear Texas title and your vehicle to a Texas Speedy Cash location. We will do a quick inspection of your vehicle, and you will receive a lending decision. If approved, you could be in and out with cash in 30 minutes or less!

Payday Loan FAQs

A: Unlike traditional payday loans, Texas payday loans are not scheduled to be paid in full on your next pay day. Instead, they have a 6-month term (view example fee schedules here). Throughout the duration of your loan, you will make periodic CAB fee payments. These payments keep your loan in good standing. At the end of your term, your accrued lender interest, and principal loan amount will be due in full.
A: You will make periodic CAB fee payments during your loan term to keep it in good standing. At the end of your loan term, your loan principal, final CAB fee, and lender interest are due.
A: If you cannot pay your payday loan in full, then you have the option to refinance. Refinancing means you will only pay a refinance fee (this includes the final CAB fee and lender interest). Your remaining principal loan amount will be rolled into a new term, in which you will pay CAB fees and lender interest as if you were borrowing a brand new loan.

Installment Loan FAQs

A: The main difference is in the repayment schedule. With an installment loan, you will make equal payments over time that will consist of a periodic CAB fee and loan interest, and a portion of your principal. With a payday loan, you will still pay a periodic CAB fee, but will pay back the full amount borrowed (principal amount) plus interest at the end of your term.
A: Your installment loan payments will be based around your pay days. If you are paid monthly, then your payments will be due monthly. If you are paid bi-weekly, then your payments will be due bi-weekly.
A: Scheduled payments will be due throughout the duration of your loan term, and include a periodic CAB fee, interest, and loan principal. For specific payment examples, visit our Texas loans rates & terms page.

Customer Notice:
There are a wide variety of loan products available in the marketplace, so your choice of lending products should match your financial needs. Small-dollar loans used over a long period of time can be expensive.

Subject to state regulations, eligibility, credit check, underwriting and approval. Rates, terms and conditions apply. Installment title loans subject to minimum auto value requirements. See associate for details. Lending decisions and funding times subject to system limitations. Some applications may require additional verification, which can delay the lending decision. Same day funding only available for Opt+ cardholders and in-store pickup. Minimum age to apply in Alabama is 19.

NOTICE: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the Consumer Financial Protection Bureau, 1700 G Street NW, Washington DC 20006 and the Federal Trade Commission, Equal Credit Opportunity, Washington DC 20580.

In Texas, Speedy Cash operates as a Registered Credit Access Business (CAB). The actual Lender is an unaffiliated third party. Speedy Cash engages in the money transmission business as an authorized delegate of Western Union Financial Services, Inc. under Chapter 151 of the Texas Finance Code. Speedy Cash engages in the money transmission and/or currency exchange business as an authorized delegate of MoneyGram Payment Systems, Inc. and Western Union Financial Services under Chapter 151 of the Texas Finance Code.

In Ohio, SCIL, Inc. dba Speedy Cash, is a registered Ohio Credit Services Organization (CS.900174.000) operating pursuant to the Ohio Credit Services Organization Act. The actual lender is an unaffiliated third party. The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio civil rights commission administers compliance with this law.

CA: Licensed by the California Department of Business Oversight pursuant to the California Deferred Deposit Transaction Law. California loans other than deferred deposit loans are issued pursuant to the California Financing Law. Installment Title Loans subject to minimum auto value requirements.

New Mexico: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website http://www.rld.state.nm.us/financialinstitutions/.

Nevada: The use of check-cashing services, deferred deposit loan services, high-interest loan services or title loan services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

Tennessee: The State of Tennessee requires a minimum principal reduction. In order to comply with the minimum state-required principal reduction, Speedy Cash requires that minimum payments include a principal reduction of 2% or $2.50 for Customers who get paid bi-weekly/twice-a-month, or 4% or $5 for Customers who get paid monthly, whichever is greater.

Opt+: This card is issued by Axiom Bank or Metropolitan Commercial Bank, Member FDIC, pursuant to a license from Visa. Visa is a registered trademark of Visa USA Inc. All trademarks and service marks are property of their respective owners. ATM: Free withdrawals at any Speedy Cash or Rapid Cash location. Transaction fees will apply for all other ATMs. No charge loads/unloads at Speedy Cash and Rapid Cash locations only.

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