In this article, we take a look at Speedy Cash, a popular payday loan provider, and other businesses that offer payday loans. While some of these businesses offer other services as well, our focus here is payday loans: a type of small, short-term loan, generally with a high interest rate, loaned on the agreement that it will be repaid when the borrower receives their next paycheck. Payday loans are sometimes also called a payday advance or a cash advance. Payday loans are often heavily regulated by state law. Rates, terms, and requirements for borrowers differ by state, so always check the rules specifically for your state before deciding whether to take out a payday loan.

What’s Included in This Article:

  • How does Speedy Cash provide payday loans?

  • How do states regulate payday loans?

  • Other Payday Loan Providers

How Does Speedy Cash Provide Loans?

Speedy Cash provides short-term loans and financial services. Speedy Cash operates as Rapid Cash in Nevada, Washington, and Oregon, and as Cash Money in Canada. Speedy Cash is licensed in each state it operates in.

Speedy Cash’s primary service is payday loans, which they offer at their physical store locations or also online. If you choose to apply for a payday loan via their website, you may still need to pick up the cash in the store, depending on which state you live in.

Getting a payday loan involves filling out an application form and meeting certain requirements. Borrowers can apply for a payday loan from Speedy Cash via the phone, in store, or online.

The requirements to receive a payday loan are (1) a minimum age (18 in most states); (2) an open and active checking account; (3) proof of income; and (4) a valid phone number. Mississippi has a minimum age limit of 21, and Alabama and Delaware have a minimum of 19 years.

Once approved, borrowers will receive their cash within 24 hours. In-store applicants either receive cash immediately or receive a money order, which they will need to cash elsewhere. Online applicants may receive cash immediately if they have Speedy Cash’s opt+ prepaid card or if they choose to have the money deposited in their bank account directly. Otherwise, they can pick up cash at a Speedy Cash store.

The loan payment is typically due 10-18 days after taking out the loan, around the borrower’s next payday. Speedy Cash allows early payoff of a loan for no extra fee.

The loan payment may be paid via an automatic payment, either withdrawn from the debit card or the checking account used to apply for the loan. Automatic payment is most common for online applicants. When applying in a Speedy Cash store, the lender will often take a post-dated check for the loan payment, which will be cashed when the loan comes due. Other options that may be available include making a payment by phone, making a payment online, and visiting a local store to pay with cash or a card.

Speedy Cash has stores in Washington, Oregon, California, Nevada, Arizona, Colorado, Kansas, Texas, Missouri, Louisiana, Illinois, Tennessee, Mississippi, and Alabama. Other states have no Speedy Cash stores, but do have access to their online loans, to include Idaho, Utah, Wyoming, New Mexico, North Dakota, Oklahoma, Wisconsin, Ohio, South Carolina, Rhode Island, Alaska, and Hawaii. Find a location on the Speedy Cash website.

State-By-State Differences in Payday Loan Regulations

How much interest borrowers pay on their payday loans varies widely according to state law. Lenders usually charge the maximum rate permitted under state law. The most permissive states allow lenders to charge annual percentage rates (APRs) over 800%, and the most restrictive states do not permit payday lending at all. States that have prohibited payday lending are Arizona, Arkansas, DC, Georgia, and North Carolina.

The extremely high interest rates on payday loans mean that borrowers should consider other options before resorting to payday loans. APRs on credit cards, for example, average between 15% and 20%. Some payday loan providers argue that because payday loans are short term, APR is not an appropriate way to compare rates. However, borrowers should consider the implications of situation in which they are unable to pay off a payday loan by the end of the loan term and are forced to refinance the loan, leading to a situation where interest on the payday loan quickly begins to add up.

The maximum loan term is also regulated by state law. Specific loan term maximums are different in every state which permits payday loans, but some generalizations can be made. Most states limit the loan term to a month or two weeks, although several limit loan term to about two months. Many states also impose minimum loan terms, the shortest being seven days. There are several exceptions. Colorado has no maximum but has a minimum of six months. Illinois’ maximum is 120 days. The National Conference of State Legislatures has published a chart detailing the minimum and maximum loan terms, how days are counted, and various exceptions for each state.

Most states set the maximum value of a payday loan at $500. A few states have no maximum, and a few use a formula to calculate a maximum for the specific borrower. Check the National Conference of State Legislature’s information to see specifics for your state, since exceptions may apply.

  • No maximum: Minnesota, Utah, Wisconsin, Wyoming
  • $300: California, Montana
  • $350: Louisiana, Minnesota
  • $500: Alabama, Alaska, Colorado, Florida, Iowa, Kansas, Kentucky, Mississippi, Missouri, Nebraska, New Hampshire, North Dakota, Ohio, Oklahoma, Rhode Island, South Dakota, Tennessee, Virginia
  • $550: Indiana, South Carolina
  • $600: Hawaii, Michigan
  • $1000: Delaware, Idaho
  • By formula: Illinois, New Mexico, Nevada, Oregon, Texas.

Requirements to be eligible for a payday loan also vary by state. Some states require proof of income, and some have set a minimum age higher than 18.

  • States that require proof of income: Illinois, Montana, New Mexico, Nevada, and Washington require proof of income. Check the lender’s state-specific information to see what documentation they accept as proof of income. Lenders in states that do not require proof of income may choose to require proof of income.
  • States that require a minimum age other than 18: Mississippi requires borrowers be at least 21 years old, and Alabama and Delaware require that lenders be at least 19 years old.

The National Conference of State Legislatures maintains a more current list of state-by-state payday loan rates with statutory references. The Consumer Federation of America has also created a resource for state-by-state payday loan regulations and includes information on how to contact the state’s regulatory agency that oversees payday loans, in the case that a consumer needs help or to file a complaint.

11 Places like Speedy Cash

1. Ace Cash Express

  • How to apply: Apply online or in store.
  • Requirements: (1) be at least 18 years old; (2) need not be employed, but must have a steady source of recurring income; (3) must not be a debtor in a bankruptcy case or intend to file for bankruptcy; and (4) must have a checking or savings account open for at least one month. In store applicants only also need (5) a valid, government-issued photo ID; (6) proof of income; and (7) proof of a checking account. Online applicants only also need (5) a valid social security number of individual taxpayer identification number; and (6) a current phone number.
  • Rates and Terms: Find state-specific rates and terms under “licenses and rates” on the Ace Cash Express payday loans page. Ace Cash Express loans come with a 72-hour satisfaction guarantee. If borrowers change their minds about the loan, they can return the principal within 72 hours and pay nothing more.
  • How borrowers receive the loan: Borrowers can choose to pick up cash in store or have the money deposited directly into their checking account.
  • How borrowers repay the loan: In store applicants should pay the loan amount in store on the due date, and may also pay early without penalty. For online applicants, the amount due is automatically withdrawn from the borrower’s checking account on the due date.
  • Store fronts: Ace Cash Express has stores offering payday loans in California, Florida, Indiana, Kansas, Louisiana, Minnesota, Missouri, New Mexico, Ohio, Oregon, South Carolina, Tennessee, Texas, and Virginia. Find a store.
  • Where online loans are available: California, Florida, Idaho, Kansas, Louisiana, Minnesota, Ohio, and Texas.

2. Advance America

  • How to apply: Apply online or at a store.
  • Requirements: In-store applicants must be at least 18 years old and should bring a (1) government issued ID; (2) most recent proof of income; (3) a personal check; (4) latest checking account statement; and (5) verification of social security number.
  • Rates and Terms: Check for state-specific rates on the page for a specific store.
  • How borrowers receive the loan: In store applicants receive the money in store after completing the application process. For online applicants, the money is directly deposited into their checking account, usually by the next business day.
  • How borrowers repay the loan: In store applicants should return to the store on the due date to repay their loan.
  • Store fronts: Advance America stores are located in Alabama, Arizona, California, Delaware, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming offer payday loans. Find a store.
  • Where online loans are available: Alabama, Arizona, California, Florida, Kansas, Louisiana, Michigan, Mississippi, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Tennessee, Texas, Utah, and Wyoming.

3. Allied Cash Advance

  • How to apply: Apply online or in store.
  • Requirements: In store applicants, must provide (1) valid photo ID (and be at least 18 years old); (2) proof of social security number; (3) current pay stub or proof of income; and (4) a blank check from a valid checking account
  • Rates and Terms: Borrowers should inquire with a store near them to find out state-specific rates. Find a store.
  • How borrowers receive the loan: Borrowers either receive cash in store or can have the money deposited directly into their checking account.
  • How borrowers repay the loan: Borrowers may leave a post-dated check at the store, or have the money automatically withdrawn from their checking account.
  • Store fronts: Allied Cash Advance has stores in Arizona, California, Illinois, Louisiana, and Virginia. Find a store.
  • Where online loans are available: Allied Cash Advance is not a direct online lender; if you apply online via their site, they will match you with an online payday loan lender based on your information.

 4. Cash Central

  • How to apply: Apply online.
  • Requirements: (1) have a source of income; (2) have a valid checking account in your name; (3) have two current and valid telephone numbers; (4) have a social security number; and (5) be at least 18 years old.
  • Rates and Terms: Check state-by-state rates and terms on their website.
  • How borrowers receive the loan: Cash Central deposits loans directly into the borrower’s checking account.
  • How borrowers repay the loan: Loans are usually paid back via an authorized electronic withdrawal from the borrower’s checking account. Other repayment methods are possible. Talk with a customer service representative to find out if you qualify.
  • Store fronts: Cash Central is online only.
  • Where online loans are available: Alabama, Alaska, California, Delaware, Florida, Idaho, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Nevada, New Mexico, North Dakota, Oklahoma, Ohio, Rhode Island, South Carolina, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming.

5. CashNetUSA

  • How to apply: Apply online.
  • Requirements: (1) be 18 years or older, in most states; (2) have an active checking account; (3) be employed for at least one month; (4) be a US citizen or permanent resident; (5) have an active email account; and (6) have a driver’s license.
  • Rates and Terms: Check state-specific rates and terms on their website.
  • How borrowers receive the loan: The loan is deposited directly into the borrower’s checking account. CashNetUSA sends funds within 24 hours of approving the borrower, but the funds may take longer to be available, depending on the borrower’s bank.
  • How borrowers repay the loan: The loan amount and fees are directly withdrawn from the borrower’s checking account on the due date.
  • Store fronts: Online only.
  • Where online loans are available: Alabama, Alaska, California, Delaware, Florida, Hawaii, Illinois, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Carolina, Texas, Washington, Wisconsin, Wyoming

6. Check City

  • How to apply: Apply online or in store.
  • Requirements: (1) be at least 18 years old; (2) have a steady source of income; (3) have a Photo ID; and (4) have a checking account.
  • Rates and Terms: Check state-specific rates and fees.
  • How borrowers receive the loan: In store applicants will receive cash in store once approved. For online applicants, funds will be deposited directly into their checking account the business after the application is approved.
  • How borrowers repay the loan: In-store applicants can leave a post-dated check for the repayment amount, can pay with cash, or can pay with a debit card in person or over the phone if they would rather not have the post-dated check deposited. For online applicants, the repayment amount will be automatically withdrawn from their checking account on the due date. If applicants would rather not have funds automatically withdrawn, they can pay by debit card over the phone before the loan is due.
  • Store fronts: Check City has stores in Colorado, Nevada, Utah, Virginia. Find a location.
  • Where online loans are available: Alabama, Alaska, California, Idaho, Illinois, Kansas, Missouri, Nevada, New Mexico, North Dakota, Texas, Utah, Washington, Wisconsin, Wyoming.

7. Check Into Cash

  • How to apply: Apply online or in store.
  • Requirements: Applicants need (1) a social security number; (2) to be a citizen or permanent resident; (3) a government issued driver’s license or photo ID; (4) a checking account active for at least 90 days; (5) be at least 21 years old (19 in Alabama); (6) proof of income; and (7) a current phone number. In-store applicants should bring a blank check and their latest checking account statement to prove their active checking account; applicants will need to write a check for the loan amount plus the fee in order to take out the loan.
  • Rates and Terms: Check state-specific rates and terms. Borrowers generally have until the close of business the following day to cancel the loan and return the principle at no additional cost.
  • How borrowers receive the loan: Online borrowers receive money via direct deposit into their checking account; funds will be available on the next business day. Online borrowers can also choose to pick up funds in store.
  • How borrowers repay the loan: For online borrowers, the repayment amount is withdrawn automatically from their checking account on the due date.
  • Store fronts: Check Into Cash has stores that offer payday loans in Alabama, California, Colorado, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin, Wyoming. Find a store.
  • Where online loans are available: Alabama, Alaska, California, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Kansas, Louisiana, Mississippi, Missouri, Nevada, Ohio, Oklahoma, Oregon, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming.

8. LendUp

  • How to apply: Apply online.
  • Requirements: Applicants must have a (1) social security number; (2) source of income; (3) a current phone number; (4) active checking account; and (5) a current email address.
  • Rates and Terms: LendUp offers lower rates for return borrowers who have made on time payments in the past. Check state-specific rates.
  • How borrowers receive the loan: The loan amount is deposited directly into the borrower’s checking account; the transfer usually occurs on the next business day, but it may take longer for funds to be available, depending on the bank. Residents of Alabama, Idaho, Indiana, Maine, Missouri, Mississippi, and Utah with qualifying debit cards may choose a “15-minute transfer” option by which LendUp can transfer funds within 15 minutes of application approval. How quickly funds are available still depends on the bank.
  • How borrowers repay the loan: The loan amount and fees are automatically withdrawn from the checking account on the due date. For those who chose the “15-minute transfer” option, funds are withdrawn from the corresponding debit card. LendUp also accepts payment via MoneyGram and personal check.
  • Store fronts: LendUp is an online service.
  • Where online loans are available: Alabama, California, Florida, Hawaii, Idaho, Illinois, Indiana, Kansas, Louisiana, Maine, Minnesota, Mississippi, Missouri, New Mexico, Ohio, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming.

9. Money Mart

  • How to apply: Most applicants will apply in store; residents of some states can apply online.
  • Requirements: To apply in store, you’ll need: (1) a valid checking account (2) a valid email address; (3) proof of steady income; (4) an active phone number; and (5) a valid government-issued photo ID. To apply online, you’ll need: (1) recent proof of income; (2) a checking account bank statement; (3) a personal check from your checking account; and (4) a valid email address
  • Rates and Terms: Check state-specific rates.
  • How borrowers receive the loan: In-store applicants receive cash or check in a store once approved. Online applicants receive the loan into their checking account via direct deposit.
  • How borrowers repay the loan: Depending on the state of residence, Money Mart will either accept a check or withdraw the money from the borrower’s checking account automatically.
  • Store fronts: Money Mart has stores in Alaska, California, Florida, Hawaii, Kansas, Louisiana, Missouri, Oklahoma, Virginia, and Washington. Find a store.
  • Where online loans are available: Residents of California, Hawaii, Louisiana, and Kansas can apply online.

10. Money Tree

  • How to apply: Apply online or in store.
  • Requirements: (1) Your ID and Social Security Number (or Alien Registration number or ITIN); (2) your address and phone number(s); (3) your source(s) of income; and (4) an open checking account.
  • Rates and Terms: Rates vary by state, check rates in California, IdahoNevada, or Washington.
  • How borrowers receive the loan: Borrowers may choose to have the funds deposited onto a prepaid debit card they purchase from Money Tree or paid to them in cash.
  • How borrowers repay the loan: For online applicants, an electronic withdrawal may be made from the account provided on the loan application on the loan’s due date. In store applicants, can choose to repay either by an electronic check or paper check may be presented to the bank for payment on the loan’s due date.
  • Store fronts: California, Idaho, Nevada, and Washington. Find a store.
  • Where online loans are available: California, Idaho, Nevada, and Washington.

11. Quik Cash

  • How to apply: Apply at a store.
  • Requirements: Applicants must have (1) a photo ID; (2) a blank check proving a current checking account; and (3) income. Applicants will have to write a post-dated check for the loan amount plus fees.
  • Rates and Terms: Quik Cash does not provide state-specific terms on their website; borrowers should inquire with the nearest store. Find a branch.
  • How borrowers receive the loan: Borrowers receive cash in store.
  • How borrowers repay the loan: Borrowers should repay the loan in store on or before the due date.
  • Store fronts: Quik Cash has stores in Alabama, Arizona, California, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Missouri, Mississippi, Nebraska, New Mexico, Nevada, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin. Find a store.
  • Where online loans are available: No online loans available.

 Where to Get Payday Loans Besides Speedy Cash: Conclusion

In most states, there are a variety of options when it comes to payday loans. Rates and terms are usually regulated by state law, so rates and terms will not vary significantly between payday loan providers in the same state. Be sure to check state-specific rates before deciding whether or not a payday loan is the right option for you. Other factors, like how payday loan providers transfer the money to you, whether the provider has a cancellation policy, or whether loans are available online, will be factors in deciding which payday loan provider is right for you.