Americash Loan Reviews

americash loan reviews
americash loans

Article Title: How Does This Lender Stack Up?

Short Description: This is a lender that offers installment loans in 12 key U.S. states: South Carolina, Oklahoma, Missouri, Illinois, and Wisconsin. Moreover, AmeriCash Loans offer online loans in the following states: Kansas, Wisconsin, Florida, Arkansas, Oklahoma, Indiana, Michigan, Iowa, and Minnesota. But is a loan from this lender worth it in the end? We investigate...

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3 of 5 stars 1 review
  • Customer Support
  • Cost of Loan
  • Funding Time
  • Application Process


This lender offers installment loans in 12 states across the U.S.  The good news about this lender is they are not a tribal lender, and thus, they must operate within state and federal guidelines.  That said, their interest rates are still considerably high and most online reviews are negative.  Rates and terms will vary by state, in addition to the requested loan amount and your credit worthiness.  However on average, you can expect to pay interest fees as high as high as 521% APR.

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  • Decent option for people with bad credit that have exhausted less expensive resources
  • Operates within state and federal laws within the U.S.
  • Fast and easy application process
  • Quick access to funds within 24 business hours


  • Lender is not transparent with typical APR rates for each state.  Therefore, you won’t truly know the interest rate you’ll pay until you complete the application
  • Very expensive for of borrowing
  • Not a good solution for large financial purchases
  • Not a good solution if you can afford to compare lenders

Looking for a reliable lender that offers financing with convenient terms? You’ll most likely come across several options, including Americash Loans.  Especially if you’re looking for a lender that offers installment loans or short-term loans.

There’s no shortage of short-term lenders on the market.  Therefore, it’s important to you do due diligence on Americash Loans, and similar lenders, to be certain you get the best loan rates, terms and especially to avoid any type of loan or credit related scam.

Introduction to Americash Loans

Let’s start with the basics of Americash Loans. As we’ve already outlined, Americash provides online, short-term loans…mainly installment loans.

Never heard of installment loans? An installment loan is a type of financing where the principal and interest are repaid at fixed intervals, over a set period of time.

In contrast with payday loans, installment loans provide you more time to pay off your debt.  Payday loans are also very similar to car title loans, only you have to put your car up as collateral.

Another potential benefit is that you can take advantage of fixed interest rates. Even so, you should have realistic expectations regarding interest rate payments.  Most people don’t think or are completely unaware of the full cost of taking out a short term installment loan.

But don’t worry.  We’ll cover everything there is to know about Americash Loans, including interest rates, minimum/maximum loan amounts and more.

AmeriCash Loans was initially founded back in 1997. As you can see, this firm has been operating in the installment loan marketplace for a few decades now.  It does appear, however, that the company is not BBB accredited.

It was established in Des Plaines, Illinois.

Lender Locations

In addition to that, Americash Loans facilitate installment loans in twelve different states.

They have over fifty storefront lending facilities in the following states: South Carolina, Oklahoma, Missouri, Illinois, and Wisconsin. Moreover, AmeriCash Loans offer online loans in the following states: Kansas, Wisconsin, Florida, Arkansas, Oklahoma, Indiana, Michigan, Iowa, and Minnesota.

Important Notice:  It appears that scammers are pretending to be employees of Americash Loans. These scammers ask people to send money upfront if they want to get a loan. This is clearly a scam and you should immediately call Americash Loans if this happens to you.

Contact Americash Loans – 888.907.4227

There are plenty of Americash Loans reviews that express this very concern.

The Pros and Cons

There’s no such thing as the perfect loan – that is, one which is affordable, in spite of bad credit, employment history, etc.

With that in mind, let’s dig into the main pros and cons of this lender.

The Advantages


According to most Americash Loan reviews, the lender is very straightforward and is highly transparent with fees, loan terms, etc.   This is definitely an advantage

This is important, especially when you’re dealing with an online lender, considering the rampant number of scammers out there.

That being said, the website is organized in a clear and comprehensive way, which provides customers with important information to make a financial decision

In addition to that, the website contains registration certificates, legal information, as well as APR notices.  So, Americash Loans is definitely legit.

These are all important elements considering that non-traditional lending companies don’t usually provide them. Hence, whether you end up working with Americash Loans or not, this is something you should keep in mind when you’re looking for a short term loan.

Referral Program

Let’s move on to another potential advantage – the inclusion of a referral program. Note that this is offered exclusively to Americash customers. Therefore, if someone you know has applied for a loan with Americash Loans through your referral link, and he/she has been approved, then you will get $100. In addition to that, your family member will get a discount as well.

There Are No Early Payment Penalties

Early payment penalties are to be paid if you repay the loan sooner than specified in the loan terms. Many people do this in case their financial situation improves, in order to eliminate debt. And this makes sense: if you have the opportunity to pay off your debt sooner rather than later, you’d do it wouldn’t you?  I hope you said yes.

In this respect, Americash Loans doesn’t have such penalties, which is, of course, a good thing.

The Disadvantages

High APR Rates

Let’s discuss the APR rates provided by Americash Loans.

As many Americash Loan reviews point out, the interest rates are unbelievably high, which will add to the overall amount of the loan to be repaid. Considering that installment loans are usually repaid over a longer timeframe, the interest rates usually aren’t as high as payday loans.  Yet, it’s still very significant. That said, Americash Loans APR could be as high as 521 percent, depending on your financial situation.

That’s an astronomical interest rate! In fact, you could say this lender operates as a loan shark.

Still, it’s worth pointing out that in the case of some payday loans, the APR could reach as high as 1,000 percent. Therefore, this isn’t necessarily the worst-case scenario.

And, if you are in need of emergency cash with bad credit, this is likely your only option. Your best bet is to pay the short term loan off as quickly as possible to avoid the high interest rates.

What Is the APR?

The APR is astronomically high, as we already noted. Therefore, you should know what to expect before contacting Americash Loans.

The APR varies depending on several factors.

Even though the APR can climb as high as 521 percent, this doesn’t mean it’s what you’ll be charged.

The APR associated with a loan is essentially the annual percentage rate, representing the genuine cost of a loan over a year. If you are someone who is struggling to get out of debt, or your financial situation isn’t the most stable, then having a loan with such a high APR might not be the best idea.

Again, it all depends on your financial situation.

How Much Can I Borrow?

In regard to the minimum and maximum loan amount you can borrow from Americash Loans, this will depend on your state of residence. Each state has a range of regulations and specifications that lenders must abide by.

The amount you can borrow ranges between $50 and $4,000. As long as Americash operates in your state, it’s fairly easy to obtain a loan.  Just keep in mind that each state has a minimum and maximum loan amount, along with a maximum APR (which you should crosscheck).

Loan Terms

The loan terms provided by a lender are very important for you to review.

Let’s talk a bit about your repayment options, as you can choose from three different alternatives, depending on which option best suits your situation.

Installment Payments

This simply means you’ll have to pay the amount you borrowed plus accrued fees over a number of scheduled payments. You’ll make the repayments over an agreed timeframe.

Full Repayment

This means you pay back the amount you borrowed in full, at any time. You won’t have to pay any prepayment charges or penalties, as we’ve briefly pointed out beforehand.

Early or Partial Payments

You can make a partial or early principal payment, without any penalties whatsoever.

Americash gives borrowers more repayment options than most short term lenders, which is a good thing.

How to Apply for a Loan?

As pointed out by the lender, the qualification criteria is very straightforward.

At the same time, short term lenders usually offer more accessible terms than conventional banks, at the cost of a very high APR.

Therefore, even if you have bad credit, the chances of securing an Americash Loan is quite high. If you’ve been turned down by lenders because of bad credit, there is still a chance to get the money you need with Americash Loans.

Nevertheless, note that high interest charges may apply in this case, so make sure you have realistic expectations.

In addition to that, you should have a bank account prior to applying for a loan with Americash Loans, a valid state ID or driver’s license, proof of residency and proof of income.

Proof of income might also entail a government benefits award letter accompanied by a bank statement. This bank statement has to outline direct deposits over a period of 30 days.

What Do Consumer Reviews Point Out?

Have other borrowers left Americash Loan reviews?  Yes. And we’ve thoroughly went through reviews we’ve seen on other sites.  Some of these reviews are on the positive side, whereas others are quite negative.

For instance, some people were pleased with their overall experience with the company, indicating that it is transparent and offers good customer service.

Nonetheless, others were outraged by the huge interest rates they ended up paying over the course of the loan. Many people are unaware of the deals they sign because they are desperate for money.

This is why it is very important to know for sure that you can afford the high APR before applying for a loan – especially if your credit isn’t the best. Usually, poor credit will attract a pretty high APR – this is in order to compensate for the risk of lending money to a less reliable consumer.

With that in mind, according to a specific customer, he ended up paying interest that was more than one-third of the original balance. Also, he stated that the company had nearly led to his bankruptcy.

The Bottom Line

As you can see, the reviews are mixed. But, all in all: is Americash Loans a scam or not? We couldn’t say that this lender is a scam, but there are still some shortcomings that come with borrowing from Americash.

As pointed out in several Americash Loans reviews, the main concern is the high interest rates.

However, as a rule of thumb, you should understand that this is usually the cost of borrowing money if you have bad credit.

This is why it’s so important to review a lender’s loan terms and conditions, the APR you’ll be charged and check around for reviews of the lender.  Do this before you sign on the dotted line and hopefully you’ll have a much more pleasant experience.

Americash Loan Reviews:  Read Our Reviews on This Fast Cash, Short Term Lender to Find Out

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