Speedy Cash is a financial services company specializing in payday and short-term loans. It was established in 1997 and is headquartered in the United States. Speedy Cash offers a variety of financial alternatives, including payday loans, installment loans, title loans, and credit lines.

The company provides quick access to its services online and through real storefront locations. Customers can apply for loans online or in person at one of the many Speedy Cash locations across the United States.

Speedy Cash primarily targets people who require immediate Cash for unforeseen bills or crises. The application procedure is traditional and requires little documentation. Borrowers frequently obtain a lending decision within minutes, and funds can be disbursed as soon as the same day or the next business day if accepted.

Speedy Cash also provides cheque cashing, money orders, prepaid debit cards, and loans. These services are designed for people who need regular banking links or immediate access to money.

Payday, Installment, and Title Loans are quick cash loan options.

Speedy Cash provides a variety of lending choices to satisfy a variety of financial demands. The three primary sorts of loans they typically provide are as follows:

Payday Advances

Payday loans are small, temporary loans that must be repaid on your following paycheck. They offer instant Cash to meet unforeseen expenses or to bridge the gap until your next payment. Payday loans typically have high-interest rates and are intended to be paid in one big payment.

Loans on Installment

With an installment loan, you can take out a sizable loan that you can pay back over a specified length of time. These loans provide greater repayment flexibility by allowing you to make smaller installments over time. When opposed to payday loans, installment loans often feature cheaper interest rates.

Title Lending

Title loans are secured loans in which your vehicle serves as security. You can borrow money using the value of your car, motorcycle, or other vehicle as collateral. The value of your vehicle determines the loan amount, and you must offer the title as security. Title loans are generally associated with high-interest rates and short repayment terms.

Loan terms and availability may fluctuate depending on your region, as legislation governing these types of loans varies from state to state. Before taking out any loan, you should thoroughly research the conditions, interest rates, and repayment schedule to understand the related costs and dangers. To make an informed decision regarding your borrowing possibilities, consider other options or seek financial guidance.

Rapid Cash Requirements: What You Must Do

To qualify for financing with Speedy Cash, you must generally meet the following criteria:

• Age: To apply for a loan with Speedy Cash, you must be at least 18 (19 years old in Alabama).
• Identification: A valid government-issued ID document, such as a driver’s license, passport, or state ID card, is required.
• Income: You must have a consistent paycheck to demonstrate your ability to repay the loan. It can include earnings from a job, government benefits, or other regular sources of money. Speedy Cash may ask for proof of income, such as bank statements.
• Bank Account: You must usually have an active checking account. It is required for receiving loan cash and making loan repayments. Other forms of accounts, such as savings accounts, may be permitted in some states.
• Contact Information: You must include a current phone number and email address to be reached.
• Quick Cash Fees and Interest Rates: What You Should Know Before Borrowing

Speedy Cash is a financial services company that provides payday, installment, and other short-term loans. Fees and interest rates can differ based on where you live, the type of loan you’re asking for, and your creditworthiness. Before borrowing, it is critical to understand the terms and conditions of any loan offer carefully.

As a result, payday loans are notorious for their hefty interest rates and fees. They are intended to be short-term loans repaid with your next paycheck. However, depending on your location and the legislation in that area, the special prices and interest rates charged by Speedy Cash may differ.

I recommend checking Speedy Cash’s official website or calling their customer care directly to acquire precise information on the fees and interest rates for a loan from them. They will be able to supply you with the most recent and specific information on their lending products.

Conclusion

Speedy Cash seeks to serve individuals needing short-term finances with quick and accessible financial alternatives. However, before deciding, it is critical to analyze the conditions and expenses involved with their loans, as they might be costly. If not managed properly, it might lead to a debt cycle.

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The backdrop of EIDL:

In the wake of Covid-19, the accompanying lockdowns, and halt in the economic activities, the US government passed a CARES act. It envisaged providing loan assistance to businesses under the following two programs;

Paycheck protection program (PPP)

Economic injury disaster loan (EIDL)

Here we will talk about EIDL only.

The loans under EIDL were to be handed out to the deserving businesses through the Small Business Administration (SBA). This program was launched in March 2020, and it was supposed to last till December 2020. But seeing the gravity of the pandemic, the program has been extended till December 2021. We are effectively under the second phase of the EIDL under the aegis of the Consolidated Appropriations Act (CAA 2021)

Critical components of EIDL:

The all-out loan that you can get under EIDL is US$2 million.

It carries a marginal interest rate of 3.75% for small businesses and 2.75% for non-profit organizations.

The loan can be paid back in 30 years, depending on the financial condition of the borrower.

The loan payment starts one year after acquiring the loan. But if the borrower desires, he can start paying back the loan from the first year. Either way, the interest accrues.

You can set up online payment methods for paying back the loan too.

Earlier, the borrower was eligible for an EIDL advance of US$10,000 within days after the successful submission of its loan application. This advance was non-refundable and deducted from the total loan eligibility. This facility has been withdrawn now in the second phase of the EIDL program.

For loan amounts fewer than or equal to US$25,000, no collateral is need. If more than US$25,000 is require, the SBA may use the business’s assets as collateral through the general security interest agreement.

The loan does not carry any pre-payment penalty or fee.

Who can apply for the EIDL?

The eligibility criteria of the EIDL is as follows;

You must be the owner of a small business in the US or US territory.

A small business is defined as a business with 500 or less than 500 employees. If, however, you are very adversely affected by the pandemic but have more than 500 employees, you may apply for it as well.

SBA’s Office of Disaster assistance works with state management divisions to declare certain areas as “eligible areas”. You may visit  https://disasterloan.sba.gov/ela/Declarations/Indexor for the current updated list.

How to apply?

The procedure to apply for this loan is simple and straightforward. As we indicate earlier, these loans were doled out through the Small Business Administration (SBA). You must go to their website, check your eligibility, and then fill the online form to apply for the loan. Approval of the loan application usually takes 2-3 weeks. And after approval, the disbursement of the loan takes 4-5 business days.

SBA will typically ask for the following list of documents from you;

Standard information regarding your business’s identity

Details of the business ownership

A 12-month detail of the gross revenue before the pandemic.

A 12-month of the cost of goods sold before the pandemic

Cost of lost rent due to the pandemic

Details of any monetary assistance that you might have received due to the pandemic.

It is not a final list. SBA may ask for any other document that it deems necessary to support your loan application.

You will also have to declare yourself as a small business in need of cash assistance. You can take professional help if you think you are unable to fill the application form.

Use of the EIDL program:

You can use your small business loan in the shape of EIDL for payroll support, rent, mortgage, account payable, interest payments, working capital support, and other such operational and running costs. It is also use to buy material, inventories, etc., for keeping your business in a running position.

You cannot use this money to pay dividends or refinance an existing loan, purchase or repair fixed assets, owner disbursements, and deliver fixed debts.

VIP Capital Funding for your business financing needs:

VIP Capital Funding is an organization that specializes in small business funding. It has been giving small business loans to thousands of businesses across the country. It is fully aware of the cash crunch small companies are facing due to the pandemic. Its owner and executive manager partner, Mr. Joshua Triplett, became the mouthpiece of small businesses and campaigned for the small businesses in getting some cash relief from the government. It finally led to the passage of the CARES act.

How to get a business loan from VIP Capital Funding?

Getting a business loan from VIP Capital Funding is a cakewalk. The company has a straightforward loan application procedure. You will not be burdened with cumbersome documentation and demand for heavy collaterals. It is a significant concern for small business financing. They must go through many scrutinizes and face harsh conditions like merchant cash assistance to get business funding. But with VIP Capital Funding, you can forget about needs like investor funding, MCA, high-interest rates, hidden charges, etc. You won’t be bound regarding the spending of the loan. It is use in any way you like. The application is processes at fast-track speed, and you can expect the loan amount in your account in 3-4 business days. The organization enjoys the trust and support of its clients as well as industry rating and monitoring agencies. You cannot afford to lose this opportunity for your small business funding.

Contact VIP Capital Funding

You can reach VIP Capita Funding by logging on to their website at www.vipcapitalfunding.com You can also call them at 800-735-7754 or email them at consultation@vipcapitalfunding.com.

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