While it does look at your credit score when evaluating APR rates, this won’t impact the lender’s decision

While it does look at your credit score when evaluating APR rates, this won’t impact the lender’s decision

As you will see from the above, Cash Central does not require you to have a minimum credit score to be eligible for a loan.

When Will I Receive my Funds?

In most cases, you should receive your loan funds the very next working day. However, this is on the proviso that you are accepted for a loan automatically. Moreover, you will also need to read and sign your loan agreement in good time to meet the next day funding round.

The only way that you will be paid is via your US checking account. As such, you won’t be able to receive the funds via a savings account or CD account.

Paying Your Loan back

When it comes to paying your loan back, Cash Central offers you a number of different options. Unlike other lenders – which typically only allow you to repay the loan every month, Cash Central lets you choose from weekly payments, bi-weekly payments, or monthly payments. This could be especially beneficial for you if you receive a weekly salary.

As is the case with the vast majority of installment loan providers, you will need to repay the money from your checking account. At the time of signing the loan agreement, you will be asked to give your consent to an electronic debit arrangement. This means that you agree that Cash Central can take your loan repayments from your bank account automatically. You will always have the same amount taken on each payment, based on your preferred weekly/bi-weekly/monthly set-up.

It is important that you understand the consequences of missing a loan payment with Cash Central, as the lender is well-known for charging very high fees. Although this is governed at a state-level, the lender typically charges as much as state lending regulations will permit. You will also have your missed payment reported to the main three credit reporting agencies.