FAQ

What is a payday loan?

A payday loan is an unsecured type of loan that is usually paid in just a few months. This is also called a short –term cash loan that is backed by a source of income which could be the next month’s paycheck or a future financial benefit. A payday loan is also called a cash advance and should be used only when there are emergency financial situations. This is not a solution to end chronic debt problems.

Make sure that you understand the risk of cash advance loans before you proceed. If you are facing long-term financial troubles, do not hesitate to consider credit counselling or other debt-management assistance from nonprofit financial counselling services.

How does loan matching work?

111cash.com connects customers to an independent, third party lender according to the information that the applicant has provided. This usually starts with filling out a simple form. After this form has been submitted, 111cash.com will connect you with a third party lender. Since each lender has its own terms and conditions for payday loans, it is required that you understand these terms before you consider the loan. There are different fees, repayment terms, APRs, renewal policies, etc. If you do not agree to any part of the lender’s terms, you may refuse the loan that is offered to you. Questions should be directed to the lender for prompt answers.

Is there a charge for connecting customers and the right lender?

111cash.com services are always free. We have a special business partnership connection to our participating lenders and we get paid for every potential referral. We are not a lender or a broker and there are no fees when you register for our services. 111cash.com connects customers and lenders. We do not make cash advance or offer credit products. Once you get approved by a lender, the rates and fees that cover your loan will be according to your lender.

How much money can I borrow with a payday loan?

The amount of cash that may be borrowed with a payday loan can vary from $100 to $1,000. However, not all lenders are able to offer loans up to $1,000 and the amount offered by a lender may vary from the amount that the customer wants. How much money you can borrow will be according to a number of factors such as the lender, income and employment. Interest rates and fees that will be charged for the loan are usually provided in a written document by the lender. You will be required to sign using your digital signature to mean that you accept the loan. Review the document carefully before you sign. If a lender does not extend an application and loan then you will not be charged at all. Keep a printed version of your loan as a personal record.

How soon could I get my cash once I get approved?

Once you get approved, an independent, third-party lender may be able to transfer the loan to your bank account the next business day. Take note that cash transfer times may vary from one lender to another and according to your financial institution.

What are the minimum requirements to apply?

111cash.com is not a lender. It does not make any decisions when it comes to lending requirements. Independent lenders have their own requirements that should be met before a payday loan is approved. The most common requirements are the following:

You must be 18 years old or older. You must be a US citizen with a valid checking or savings account that is able to accept direct deposits You must have at least $1,000 a month You should not be a member of the Army, Navy, Marine Corps, Air Force or Coast Guard or a dependent or serving under the call or order that does not specify a period of 30 days or less.

What information is needed to use 111cash.com services?

Additional information includes certain personal, employment and banking information to be able to be matched with a prospective independent third party lender. Usually the following are asked: name, address, telephone number, email, SSN and driver’s license number, bank account information and employment information. All these pieces of information should be accurate and once these are submitted, lenders will be performing a credit check or simply verify your social security number.

Is the information that I provide secure?

We respect your privacy and therefore we use a variety of security measures to maintain the safety of your information. All data that is received and transmitted are protected by a 128 bit Secure Socket Layer encryption.

Your use of 111cash.com services is voluntary and is covered by our Terms and Conditions of Use and Private Policy.

How long should I wait for a cash advance?

A third party lender company may be able to transfer your loan amount to your bank account in as soon as the next business day. Cash transfer times may vary according to the lender or your individual financial institution.

When is repayment expected?

We are not a lender and we are not able to provide loan products. Once you are approved, your lender will provide your loan amount and this loan will be repaid according to the terms and conditions for payday loans of the lender. Only your lender can give you complete information on when to pay for your loan and the fees included should you are not able to pay for it at the specified time.

Will the third party lenders perform a credit check?

111cash.com participating third party lenders may verify your social security number and driver’s license number or any type of valid identification to review your personal and credit information against national records. This verification will describe your credit worthiness, credit standing and your capacity to make repayments for the loan.

Take note that multiple inquiries on the three credit databases (Equifax, Transunion and Experian) could result in a low credit score. When you submit your information to verify your credit standing, you also agree to third parties in verifying your information and check your credit.

What do I do if I want to renew my loan?

Third party lenders have their own renewal policies; some of these could even have automatic renewal. Talk to your lender if they automatically renew loans and the needed requirements to be able to renew your loan. Payment extension could result in additional fees and interest rates and the total amount of money that you will need to pay. Review your lender’s policies before you agree to renew your loan.

What does late payment and non-payment imply?

Each lender is different from the other and has their own criteria in defining late payment fees, additional fees, interest and collection costs. Talk to your lender first about late payment fees before you agree to the loan offered to you.

Is approval guaranteed?

There is no guarantee that you will be considered for a loan from our participating lenders.

What if I cannot make repayments or repay my loan according to its terms?

Your lender may charge you late payment fees, have a collections agency handle your account, and furnish a report about your non-compliance to a loan agreement to an agency which directly affects your financial score and offer to renew, extend or refinance your loan. Along with loan refinance and renewal, additional rates and policies are applied.

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MATERIAL DISCLOSURE:

APR Disclosure. Some states have laws limiting the APR that a lender can charge you. APRs range from 200% and 1386%. Loans from a state that has no limiting laws or loans from a bank not governed by state laws may have an even higher APR. The Annual Percentage Rate is the rate at which your loan accrues interest and is based upon the amount, cost and term of your loan, repayment amounts and timing of payments. Lenders are legally required to show you the APR and other terms of your loan before you execute a loan agreement.

Material Disclosure. The operator of this website is not a lender, loan broker or agent for any lender or loan broker. We are an advertising referral service to qualified participating lenders that may be able to provide amounts between $100 and $1,000. Not all lenders can provide up to $1,000 and there is no guarantee that you will be accepted by an independent, participating lender. This service does not constitute an offer or solicitation for loan products which are prohibited by any state law. This is not a solicitation for a particular loan. We do not endorse or charge you for any service or product. Any compensation received is paid by participating lenders and only for advertising services provided. This service and offer are void where prohibited. We do not control and are not responsible for the actions of any lender. We do not have access to the full terms of your loan. For details, questions or concerns regarding your loan please contact your lender directly. Only your lender can provide you with information about your specific loan terms, their current rates and charges, renewal, payments and the implications for non-payment or skipped payments. The registration information submitted by you on this website will be shared with one or more participating lenders. You are under no obligation to use our service to initiate contact with a lender, apply for credit or any loan product, or accept a loan from a participatign lender. Cash transfer times and repayment terms vary between lenders. Repayment terms may be regulated by state and local laws. Some faxing may be required. Be sure to review our FAQs for additional information on issues such as credit and late payment implications. These disclosures are provided to you for information purposes only and should not be considered legal advice.

Exclusions. Residents of some states may not be eligible for some or all short-term, small-dollar loans. Residents of Arkansas, New York, Vermont and West Virginia are not eligible to utilize this website or service. The states serviced by this website may change from time to time, without notice.

Credit Implications. The operator of this website does not make any credit decisions. Independent, participating lenders that you may be connected to may perform credit checks with credit reporting bureaus or obtain consumer reports, typically through alternative providers to determine credit worthiness, credit standing and/or credit capacity. By submitting your information, you agree to allow participating lenders to verify your information and check your credit.

Professional Advice. Loans provided by independent, participating lenders in our network are designed to provide cash to you to be repaid within a short amount of time. The short-term loans are not a solution for long-term debt and credit difficulties. Only borrow an amount that can be repaid on the date of your next pay period. Consider seeking professional advice regarding your financial needs, risks and alternatives to short-term loans.