Payday Loans

Uses for a Payday Loan

People from all walks of life use payday loans to meet a variety of financial needs. Payday loans can be expensive and therefore should only be used as a short-term solution to meet immediate necessities or emergency expenses. However, when used as intended, payday loans can often be the most affordable option for a customer who may otherwise encounter NSF fees from the bank or late fees on a credit card. Typical uses for a payday loan include:

• To ensure on time bill payment.
• For emergency expenses.
• To bridge costs in medical or health related situations.
• To cover unexpected car or utility expenses.
• As a readily available safety net in the event of unexpected life expenses.

Payday Loan Costs

Payday loans can be expensive, but the costs aren’t quite as scary as they may seem. Interest rates on a payday loan are incredibly high, there’s no doubt about that. However, interest rates are presented as an annual percentage rate, or APR, meaning that’s the rate you would pay if you held the loan for an entire year.

Payday loans are not extended over an entire year as they are short-term loans and are typically due between two to four weeks in accordance with your payday. To best understand the costs of a payday loan it may be easiest to look at the lenders finance charge, which is typically a flat fee per $100 borrowed. Cash Central’s fees range from $15 to $27 per $100 depending on the regulations of your state. To find out the cost of a payday loan in your state, visit our Rates & Terms page.

Repayment

With a payday loan your due date will typically be your very next payday. At that time, your principal balance plus applicable finance charges and fees will be automatically deducted from your checking account via an authorized electronic withdrawal. However, we understand life doesn’t always go as planned and there may be times when you are unable to pay your loan on its due date. Depending upon the state and the circumstances we may be able to offer payment options that could fit your needs, including courtesy moves, refinances, extended payment plans (EPP) or variable payment plans (VPP). Payment options can vary depending on the state you live in, so give us a call at 1-800-460-4305 for more information. To ensure we have enough time to accommodate your request, please call us before 6:45 PM EST at least one day before your due date.

Benefits of a Payday Loan with Cash Central

Cash Central has been on the forefront of short-term lending integrity since day one. Despite negative publicity that occasionally swarms the payday loan industry, Cash Central takes pride in its lending approach. The choices of where to secure your loan may seem endless but here are a few things to consider as to why we may be the right choice for you:

• Quick loan approval. Apply anytime and know generally within minutes if you’re approved.
• Confidential 24/7 online convenience. Day or night, you can easily apply or request a loan in the privacy of your own home.
• Funds the next business day.* No transfer fees and no lengthy approval process. Once approved and your contract is signed, your loan funds as soon as the next business day.
• State licensed and registered. Cash Central does not skirt the law to make loans available. With state and Federal oversight, we offer loans you can trust.
• Loan transparency. Review available loan amounts, APR, and loan fees BEFORE you take your loan.
• Real help from real people. We want to speak to you. It’s why we have a call center staffed with friendly, informative customer service agents to answer your questions live via chat or over the phone.
• Get savings. Cash Central believes you deserve to save. We regularly provide discount codes and coupon codes to save you money.

A payday loan shouldn’t add stress to your situation. That’s why Cash Central strives to make online lending simple.

*When application is submitted by 7:45 PM EST. Customers entering into their first loan with Cash Central may experience a delay in loan funding.