Money shouldn´t stop making your plans come true. Learn how personal loans can help you!
cashnetusa review
5 Jun 2018

Lender Review: CashNetUSA

Posted By

Are you considering obtaining a loan through CashNetUSA?

If you’re in need of financial assistance, a variety of online lenders are at your disposal.

It’s possible to request personal loans of all kinds, with or without a credit check, simply by submitting an application online.

However, if you are considering a personal loan, it’s essential to research your lenders wisely. Fully understanding loan terms and lender credibility can ensure that you achieve the best rates.

CashNet USA is one of several prominent online lenders you may have come across in your research.

Read on for a review of this lender so that you can feel confident in your financial decision!

Editor’s note: If you like this article, feel free to join the conversation and leave your comments at the bottom!
Check out for more tips on online loans.
Choose the right online loan for you!

CashNetUSA: The Basics

According to their website, Cash Net USA has served three million customers in the last decade. At the moment, they provide lending services to 30 states in America.

CashNet.USA is specifically an online lender, meaning that they do not have a brick-and-mortar office or company. They are a part of Enova International, Inc., which provides funding solutions to individuals around the world.

The services CashNetUSA provide depend on the state that borrowers live in. For example, California residents have access to payday loans, installment loans, a savings program, and financial education.

Comprehensively, CashNetUSA offers borrowers lines of credit, cash advances, and payday or installment loans of limited value.

Individuals can receive up to $255 in payday loans and $3,400 in installment loans.

It’s possible to request a loan online through CashNetUSA. Users must first create an account for free on the lender’s site.

Requesting a loan is relatively easy through CashNetUSA’s website once a profile is established.

You may have to submit proof of income, particularly if you receive alimony, disability benefits, or social security. Self-employed individuals will also have to prove income.

Applicants who qualify will receive funds typically within one business day in their specified account.

CashNetUSA claims that less-than-stellar credit does not preclude you from receiving one of their loans, making their loans effectively no credit check loans.

This lender’s APR varies depending on the type of loan acquired and state of residence. California payday loans, for example, require borrowers to pay a maximum of $44 per $100 borrowed.

Installment loans have a different fee structure depending on amount borrowed. CashNetUSA calculates APR for these loans on an annual basis.

There are no early repayment fees or penalties.

The Pros: CashNetUSA Loans

Now that you have an overview of the basic aspects of this lender, let’s take a close look at the benefits of requesting a loan through CashNetUSA.

1. Ease of Applying

There’s no doubt about it: requesting a bad credit loan through CashNetUSA is relatively easy. It’s possible to submit an application in a matter of minutes through the lender’s secure website.

What is more, applicants can receive funds quite quickly, as soon as one business day after an application is approved. This can be an asset for individuals who need fast cast.

The application process itself may not even require proof of income, although cases will vary. Even if you have to upload a few documents presenting proof of income, this is still low-hassle when it comes to loan applications.

CashNetUSA’s website is also user-friendly, providing answers to common questions and clear contact information for applicants. When it comes to online lenders, this is a good indication of a seamless application process.

2. Short-Term Loans

If you are in need of a quick turnaround loan, CashNetUSA may be the answer. All of its payday loans must be repaid within 31 days of receipt (or on your next payday).

Most of its installment loans must be repaid within 15 months of acquisition.

If you’re in need of quick cash and anticipate having the means to pay this back in a short time-span, this can be ideal. Shorter term loans may also reduce the interest paid in the long run.

What’s more, there is no fee for early repayment.

3. High Customer Satisfaction

According to their website, CashNetUSA’s customers are largely happy with their service. Take the time to read specific reviews on TrustPilot.

Positive reviews highlight CashNetUSA’s short, easy application process and the fast transfer of funds. Others mention the lender’s professionalism, friendly intake, and general customer service.

Given their high customer reviews, it’s likely that borrowers will have a positive to excellent experience borrowing through CashNetUSA.

The Cons: CashNetUSA

Despite these advantages, there are a few things to keep in mind before requesting a loan through CashNetUSA.

1. High Rates for Installment Loans

While CashNetUSA’s payday loans offer viable rates, their website suggests that installment loans can have dramatically higher rates.

For example, if a California resident requests an installment loan of $2,600 and follows a 39-payment biweekly structure, they will end up paying over $8,000 back to CashNetUSA.

The finance charge for the loan, therefore, is over $5,000.

This is significant and can be prohibitive for some consumers looking for more viable means of repayment.

2. Confusing Terms

While CashNetUSA does offer an extensive Frequently Asked Questions (FAQ) page on its website, its information about rates and terms is difficult to parse. This may simply be because terms vary depending on state and credit history.

Nonetheless, other lenders may be more upfront about fee structures and APRs. For applicants who do decide to go with CashNetUSA, it’s all the more important to read the fine print.

3. Limited Scope

CashNetUSA does not service all 52 states. For this reason, only certain American residents are eligible for financial assistance with this lender.

This may preclude you from receiving the aid you need, no matter how competitive your credit score is.

Final Thoughts: CashNetUSA

If you are considering obtaining a loan via CashNetUSA, it’s essential to weigh the pros and cons before doing so.

Some borrowers will appreciate being able to repay loans early through CashNetUSA without penalty. Others will enjoy the easy application process and the lender’s extensive array of happy customer testimonials.

However, it is important to note that this lender’s loans have high rates, sometimes prohibitively so. Given the fact that their loans are short-term, customers may end up paying an arm and a leg for an initially small loan.

The lender’s confusing terms and limited scope may also make it less ideal for certain borrowers.

If you’re looking for a viable means of financial assistance, Bonsai Finance is here to help. Learn more about our online installment loans here!