Personal Loans Overview

"Personal Loans" is a commonly used term to describe a wide range of unsecured consumer loan types that each have distinct traits and characteristics. Personal loans often refer to credit card cash advances, payday loans or cash advances, set interest rates and fixed payment schedules.

What is a Personal Loan?

A personal loan is generally associated with what's called "unsecured debt." In other words, the lender trusts you'll pay your loan back and doesn't demand you offer any collateral in return (i.e. car title, home, etc.). Principal and interest payments and/or loan fees are made in regular payments over the course of the loan as defined by the lender and the borrower or in one lump sum (as in the case with a payday loan).

Personal loans aren't tied to any specific use, like say, an automobile or home loan. In short, it's a loan for personal use.

What Are The Benefits of A Personal Loan Online?

What kind of Personal Loans Does Cash Central Offer?

Cash Central specializes in smaller dollar amount payday loans or cash advances which are typically repaid on your next pay date.

Payday Loans

Also known as a "cash advance," a payday loan is typically offered over the course of two to four weeks and paid back on your next payday. However, borrowers often use these loans over a period of months, which can be expensive. Payday Loans are not recommended as long-term financial solutions but are often used to cover unexpected emergency expenses.

Typical APR for a 14 day Payday Loan of $255.00 is 459.88% (Interest is charged at 0.8% per day).


A Cash Central Line of Credit* allows you to apply once for credit and if approved, establish a credit limit, and choose funding amounts that are right for you and your situation up to a qualified dollar amount. Credit limits vary from $500 to $5,000 with annual interest rates ranging from 150% to 264%. A Line of Credit allows you to draw only the amount you need at the time (any time) up to your available credit limit with funds deposited into your checking account the next business banking day**. The Cash Central Line of Credit is a high interest product. Customers are encouraged to repay their draws quickly.

*Line of Credit available in the following states only: Kansas

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