Key Takeaways
- Loans like CashNetUSA are short-term, high-interest loans designed for quick cash needs, often used as payday loan alternatives with more flexible repayment options.
- Alternatives include installment loans, payday loans, lines of credit, and cash advances, each with different terms, rates, and repayment structures.
- High interest rates and fees are common, especially for bad credit borrowers, so comparing loan terms and ensuring affordability is essential.
- Availability and terms vary by state, and not all loans are offered in every location.
Do you need a loan like the ones from CashNetUSA? Options like CreditNinja, OppLoans, and Rise Credit offer quick cash for emergencies, even if your credit isn’t perfect. These lenders provide fast approvals and flexible repayment plans, making them a solid choice when you need money in a pinch. Learn about the different loan options available to bad credit borrowers so you can make a confident personal finance decision.
Many of us must deal with unexpected emergencies requiring quick solutions. But unfortunately, many people do not have savings to fall back on. In 2021, approximately 5.9 million Americans did not have a checking or savings account at a bank or credit union.1 If you need financial help, cash loans from certain lenders may offer instant relief.
Finding the Right Personal Loan
Many people use personal loans to get speedy cash in their bank account, but is this the right option for your financial needs? There are multiple financial products available, which is great, but the number of similar choices can be overwhelming.
Here are some of the common choices you may come across in your search for bad credit loans:
| Company | Loan Amount | Interest Rate | Loan Term |
| Upstart | $1,000+ | Up to 35.99% | Up to 5 years4 |
| MoneyMutual | Up to $5,000 | Varies | Varies4 |
| OppLoans | $500 – $4,000 | Up to 179% | 6 – 36 months5 |
| Rise Credit | Up to $5,000 | Up to 299% | Varies6 |
| Cashnet USA | Up to $3,000 | Up to 449% | Varies7 |
| GreenDay Online | Up to $1,500 | 261 – 782% | ~2 weeks8 |
*Please note that the information provided is general and may vary depending on the lender, jurisdiction, and specific terms of the loan or credit line. As of the date of publishing, this information was current and accurate.
Types of Loans Available
CashNetUSA offers various types of loans. Suppose you are looking for loans like CashNetUSA. In that case, it’s a good idea to learn how similar online payday loans, personal loans, cash advances, and lines of credit differ to determine which works better for you.
| Feature | Installment Loans | Payday Loans | Lines of Credit |
| Loan Term | Typically 3-60 months | 2-4 weeks | Indefinite (revolving) |
| Interest Rate | Usually lower | Very high | Varies |
| Loan Amount | $1,000 – $50,000 | $100 – $1,000 | Varies |
| Repayment Structure | Fixed monthly payments | Lump sum at due date | Flexible |
| Credit Check Required | Usually | Rarely | Usually |
| Usage | General or specific use | Short-term emergency | Flexible |
| Collateral Required | Sometimes | No | Sometimes |
| Fees | Origination, late fees | High fees | Annual, over-limit fees |
*Please note that the information provided is general and may vary depending on the lender, jurisdiction, and specific terms of the loan or credit line.
Loans Like CashNetUSA: What You Need To Know
CashNetUSA is not a direct lender in all states, as they operate as a Credit Access Business (CAB) in certain states, such as Texas. A CAB helps eligible applicants acquire lines of credit and installment loans through an unaffiliated third-party lender.
CashNetUSA has been servicing loans since 2004, and they are part of the publicly traded company Enova International, Inc. Their headquarters is in Chicago, IL. Customer data is kept safe through high-grade security software, such as TrustedSite.
Currently, CashNetUSA has 4.6 stars on Trustpilot from 29,137 customer reviews. CashNetUSA has 1.12 stars from 78 reviews on the Better Business Bureau website. The company is not BBB Accredited, although they have an A+ rating.
What Are the Loan Terms?
CashNetUSA does not service every state, and every state has different loan options for borrowers. If you are interested in loans like CashNetUSA, or similar lenders, you must know whether they are available in your state and what types of loans you can get.
CashNetUSA services the following states:
- Alabama — Line of credit limits up to $2,000.
- Delaware — Line of credit limits up to $2,000.
- Idaho — Line of credit limits up to $1,700.
- Kansas — Line of credit limits up to $1,900.
- Louisiana — Line of credit limits up to $1,500.
- Mississippi — Credit Availability Loans up to $1,800.
- Missouri — Line of credit limits up to $2,000.
- South Carolina — Line of credit limits up to $1,600.
- Tennessee — Flex Loans up to $1,850.
- Texas — CAB installment loans up to $1,200.
- Utah — Line of credit limits up to $1,700.
- Wisconsin — Installment loans up to $1,000 and line of credit limits up to $1,550.
The APR for lines of credit range from 229% to 299%, but remember that approval and loan terms vary based on applicant qualifications, specific lenders, and by state. You may only see your potential loan amount, rate, and repayment length by submitting a loan application and getting an offer.
Who Are Loans Like CashNetUSA For?
Loans like CashNetUSA are for individuals that need speedy cash for unexpected expenses. Their short-term loans are meant as alternatives to payday loans. Many poor credit borrowers use traditional and online payday loans and lenders when they need quick cash, but payday loans tend to have strict repayment terms that create extra financial stress.
Most payday loans must be repaid within two weeks, which is hard to accomplish. Payday loan borrowers have to pay back the full principal balance plus interest fees. But with loans like CashNetUSA, borrowers can repay through manageable installments.
According to CashNetUSA, they are a good payday loan alternative because they offer more flexible repayment periods and loan amounts. Loans like CashNetUSA usually have longer loan periods and higher loan amounts.
What Are the Benefits of Loans Like CashNetUSA?
CashNetUSA offers the following benefits:
- Same-day funding (if approved before 1:30 p.m. CT Monday – Friday).
- Instant approval decisions.
- Quick online applications.
- A savings program that offers exclusive discounts.
- Online financial education courses and interactive tools.
- Steady job board with work opportunities.
How Does CashNetUSA Work?
If you want to borrow money with loans like CashNetUSA, you must meet the following requirements:
- Be at least 18 years of age (must also adhere to state requirements).
- Be a U.S. citizen or permanent resident.
- Have a verifiable source of income.
- Have an active checking account.
To get an installment loan or line of credit through CashNetUSA, you must sign up for an online account and submit a loan application. You will need to provide basic personal information, such as your name, address, date of birth, email address, etc.
Most applicants do not need to provide documentation, but there are some instances where proof of income is required. If you need to provide paperwork, you can upload documents to your online account, email, or fax.
If you are eligible to get installment loans or lines of credit with CashNetUSA, you will receive an email notification. The amount of time it takes to get your direct deposit depends on when your application is approved and when you confirm your email address.
How to Evaluate Payday Loan Alternatives
There are several things you can look at to ensure that you are able to effectively choose a payday loan alternative:
- Interest rates and fees — Interest rates are the most expensive part of borrowing funds, along with that there are fees like origination that are built in with most loans. However, there may be extra fees with options like payday loans, be sure to look closely at any loan option you are considering.
- Repayment terms — Loans can be short-term, usually a few weeks up to a few months, or long-term, usually a year or longer. A longer loan is usually more manageable to repay, while a shorter one may mean less interest (when borrowing the same amount with the same interest rate). Everyone’s finances are a little different, so be sure to factor in what works best for you.
- Credit Reporting — If you are trying to build your credit, it may be important to you that the lender you take out a loan with will report to the major credit bureaus, so much so that your loan choice may depend on it. If that is the case, ensure to ask lenders questions before choosing one to work with.
- Loan Money — You’ll want to ensure that the loan that you are planning on taking out will cover the entire cost of your expense. You also shouldn’t borrow more money than you need.
- Eligibility Requirements — Some lenders are more flexible than others, so you may have to filter out your choices with payday loan alternatives.
Understanding the Risks of Short-Term Loans
At CreditNinja, we want consumers who are considering short-term loans to know about the potential risks associated with them. With short-term loans, you’ll usually have to repay them quickly, sometimes as soon as two weeks. If your finances are already tight, then doing so may be tough, especially with the higher interest rates. And if you aren’t able to repay your short-term loan on time, there will often be fees associated with it that are tacked onto the existing loan balance. This can lead to a cycle of debt.
CreditNinja: How Does It Compare?
If you are looking for loans like CashNetUSA, consider working with CreditNinja. We have been helping consumers across the nation access quick cash since 2018. We have serviced over 475,000 personal loans, and our customer base keeps growing.
We currently have an excellent rating on Trustpilot from 7,665 reviews. We encourage interested applicants to read our online reviews from satisfied past customers.
CreditNinja’s Personal Loans
CreditNinja is a lender that provides installment loans like CashNetUSA. If you want to avoid taking out high-cost payday loans and cash advances, know that we offer fast online installment loans with competitive rates and flexible repayment plans.
How Does CreditNinja Stand Out?
Our installment loans have flexible terms that work for a wide variety of financial needs. We offer small to large loans, so you can get money for all kinds of emergency expenses.
Worried about your FICO score? Rest easy knowing that we work with all types of credit backgrounds. At CreditNinja, we understand that life happens, and your credit will not always be perfect. That’s why we consider more than just your FICO score when making approval decisions.
If you’re interested in loans like CashNetUSA, check out our exclusive benefits:
- Easy online application process
- Small to large loan amounts
- Competitive interest rates
- Quick approval decisions
- Same-day funding*
- Flexible repayment terms
How Does CreditNinja’s Loan Process Work?
To apply for a personal loan with CreditNinja, you will need to complete 3 simple steps.
Step 1: Inquiry
Our secure online application form can be completed on a mobile device or computer. For us to determine your eligibility for an installment loan, we will need basic personal information. Prepare to provide your name, date of birth, address, etc.
Step 2: Approval
Once we have all of the necessary information, we will make a quick approval decision. Remember that we consider more than just your credit score. It’s entirely possible to get money for an unexpected expense with less-than-perfect credit.
You will receive a personalized loan offer if you qualify for emergency cash. Your offer will include your repayment details, so you can decide whether or not to proceed.
Step 3: Get Your Funding
To get your money, you will need to complete a bank verification process. This necessary process ensures that your bank account information is accurate, so we send the money to the right individual. After you verify your bank details and sign the electronic loan agreement, you can get your money!
Frequently Asked Questions About Loans Like CashNetUSA
CashNetUSA offers various repayment structures depending on the type of loan and the state in which you reside. Typically, borrowers can expect monthly installment payments for installment loans. It’s essential to check your loan agreement for specific repayment terms.
Pros include quick online application processes, instant approval decisions, and same-day funding for eligible applicants. Cons might include higher interest rates compared to traditional bank loans and limited availability in certain states.
Typically, CashNetUSA does not charge prepayment penalties, but it’s always a good idea to check your loan agreement or consult with their customer service for specific details.
The fees and interest rates vary based on the loan type, loan amount, and the state you reside in. It’s crucial to review your loan agreement for specific details on fees and interest rates.
If approved before a specific cut-off time, you might be eligible for same-day funding. However, in most cases, funds are deposited into your account within one business day.
A Summary of Loans Like CashNetUSA from CreditNinja
Do you need a loan and have been refused everywhere? Many people search for cash advances and loans like CashNetUSA to tide them over when unforeseen expenses arise. At CreditNinja, we offer personal loans with flexible repayment terms, competitive rates, and excellent customer service.
However, we firmly believe consumers should carefully research their options before working with us or an alternative lender. Weigh your options carefully and ask yourself how much you can afford to borrow. Check out our free online blog to learn the ins and outs of the lending industry.
References:
- 2021 FDIC National Survey of Unbanked and Underbanked Households│FDIC
- How Do Payday Loans Work?│InCharge Debt Solutions
- State│CashNetUSA
- Loans Like Cashnet USA | BadCredit.org
- What Is an Installment Loan? | OppLoans.com
- Rise Loan Reviews | WalletHub
- Cashnet USA Review 2024 | Finder
- Greendayonline.com
Websites Like CashNetUSA
It’s important to remember that there are plenty of similar lenders out there for folks who need quick cash. It’s wise to thoroughly research several lenders before making a final decision. Luckily, CreditNinja has all the information you need to make an informed decision.
