Understanding Payday Lenders

It's important to know what you're getting into before applying for a payday loan. When you begin researching payday lenders, it's important to know that there are different types of lenders out there that offer different types of products, different application steps, and different rates and terms. While all payday loan companies are meant to offer you cash when you need it, some might be better suited to meet your current need than others.

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Speedy Cash - Your Direct Payday Lender

Instant Lending Decision

As a direct online payday lender, we can provide a lending decision right away.

Direct Lender*

Speedy Cash processes your application & funds your payday loan. Why work with a loan matching service when you can work directly with us?

Secure Online Application

Speedy Cash offers a 100% online payday loan application that is encrypted for your security.

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 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.

Types of Payday Loan Lenders

When you need money and you need it now, you may be keen to borrow from the first lender that approves you. But before you do, it's important to understand the different types of payday loan companies and how the different lender types can affect you as a consumer.

Direct Lenders

A direct payday lender is a lender that both processes your application and funds your loan. These lenders do not broker or sell your information to other lenders.

Credit Access Business (CAB)

"Credit access businesses" are state-registered CSOs (Credit Service Organizations) that obtain for or assist a consumer in obtaining an extension of consumer credit. Basically, this means that you apply for a payday loan with the CAB, and if you are approved, they arrange a loan between you and a third party lender. The CAB still services your loan, meaning you will still make your loan payments with them.

State Regulated Lenders

State regulated payday loan lenders are regulated by each state in which they offer payday loans. Using a state regulated lender means that the interest rates and fees you pay will not exceed the laws and regulations set forth by your state. State regulated payday loan companies can be found both online and at store locations.

Tribal Lenders

Tribal payday lenders operate by affiliating with Native American tribes. Tribal lenders consider themselves sovereign nations, which mean that they are only limited to the laws and regulations of their tribe - no federal or state payday laws. This affiliation allows their interest rates to exceed what is permitted by state regulations.

Offshore Lenders

Offshore lenders operate outside of the US. They do not comply with the state or federal regulations that are in place to protect payday loan consumers. Because offshore lenders do not follow these regulations, they can typically lend more money but that can come with higher finance fees (and sometimes hidden fees that may not be apparent).

Lead Generators

A lead generator is a liaison between loan applicants and online lenders. Lead generators often have a network of websites where they collect payday loan applications online. Sometimes these websites can appear to be a direct lender, but they don't actually lend money. Instead, they sell the applicant's information to a direct lender that will then fund the loan. To identify if a website or company is a loan broker, look for the small print that typically says something along the lines of "the operator of this website is not a lender" or "match you with a lender".

Direct Payday Loans from Speedy Cash

Speedy Cash is a direct payday lender.* We set ourselves apart from other payday loan lenders with our heightened Customer Service and commitment to always providing easy, fast and friendly  service. Are you ready to apply for a Speedy Cash payday loan?

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 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.

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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