Americash Loan Reviews»

Americash Loan Reviews

Update: Do Not Apply for an Americash Loan Until You Read This Review

Our Review of Americash

Reviewer: Brian Allen

Loan Amount
Loan Cost
Funding Time
Customer Support
Application Process

Review Summary

Americash Loans 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.


– 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


This article on Americash Loans has been updated.

Americash Loans provides emergency loans (otherwise known as bad credit installment loans) to consumers.  Loans are provided to consumers for emergency expenses that come up, when financing cannot be obtained through traditional lenders.  This article will cover everything you need to know about Americash Loans, including reviews.

Here are a few reasons you might consider consider an installment loan from Americash:

  • Help paying an emergency medical expense
  • Help paying an unexpected car repair
  • Help paying rent
  • Help paying for groceries
  • Help paying utility bills
  • Etc

Let’s first start with how an Americash loan works.

What is Americash Loans and How Does it Work?

If you have bad credit, and an emergency bill comes up at the last minute, Americash Loans can give you an installment loan.  The installment loan, unlike payday loans, can be repaid over time. 

This gives you more time to pay off your debt, instead of paying the full balance off by your next paycheck. This is a major benefits to borrowers that struggle with budgeting, debt and credit issues. 

AmeriCash Loans was initially founded back in 1997, Des Plaines, Illinois. They have been providing installment loans for over a few decade now.  One point worth noting, is the company is not BBB accredited.

Lender Locations

This tribal lender facilitates bad credit installment loans in twelve different states. Out of the 12 states, most Americash Loans reviews were neutral.

They have over fifty storefront lending facilities in the following states:

  • South Carolina
  • Oklahoma
  • Missouri
  • Illinois
  • Wisconsin.

AmeriCash Loans also offers online loans in the following states:

  • Kansas
  • Wisconsin
  • Florida
  • Arkansas
  • Oklahoma
  • Indiana
  • Michigan
  • Iowa
  • 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 need 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

How Much Will an Americash Loan Cost?

You should know what to expect before applying for Americash Loans.  The interest rates are extremely high.  However, this is usually the case with bad credit installment loans.  You will see significant APR, mostly because the lender takes on a huge risk by lending money to consumers with bad credit. 

Before you apply, make sure you understand how much the loan cost, along with the loan terms.  This is the #1 reason most consumers are disappointed with Americash.  

The APR varies and depends on several factors.

One thing that concerns us is Americash hides their interest rates on their website.  We do know, however, that interest rates can be as high as 521% APR.  The fact that Americash hides this information should be a red flag.

How Much Can I Borrow From Americash?

This depends on which state you live in, and if Americash operates in your state.  The lender must abide by state laws which they operate in.  That said, each state has a minimum and maximum loan amount that you can borrow. 

The fact that Americash does, in fact, follow state laws, is a good sign.  That said, the amount you can borrow ranges between $50 and $4,000.  We break down how much you can borrow, by state, below. While rather expensive, Americash Loans reviews state the lending process was usually fair and quick.

  • Arkansas – Minimum: $100, Maximum: $2,500
  • Florida – Minimum: $601, Maximum: $2,500
  • Illinois – Minimum: $100,  Maximum: $4,000
  • Indiana – Minimum: $100, Maximum: $4,000
  • Iowa – Minimum: $100, Maximum: $2,500
  • Kansas – Minimum: $100,  Maximum: $2,500
  • Michigan – Minimum: $100,  Maximum: $4,000
  • Minnesota – Minimum: $100,  Maximum: $2,500
  • Missouri – Minimum: $100, Maximum: $2,500
  • Oklahoma – Minimum: $50, Maximum: $1,470
  • South Carolina – Minimum: $601, Maximum: $2,500
  • Wisconsin – Minimum: $100,  Maximum: $2,500

TRENDING: Reviews on Bad Credit Lenders

What Are The Loan Terms?

The loan terms provided by a lender are very important to review.   You have several repayment options, depending on which option best suits your situation. 

This is another thing we can appreciate about Americash – they give you several options to repay, and, in the event you want to pay the loan back in full, they do not charge any pre-payment penalties.

Installment Payments

You’ll 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

You’ll pay back the amount you borrowed in full, at any time. You won’t have to pay any prepayment charges or penalties.

Early or Partial Payments

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

Americash gives borrowers more repayment options than most short term lenders.

How Do I Apply for a Loan?

Applying for an Americash loan is very simple.  When going through the application process, pay close attention to the terms of service and disclosures.  This is where most consumers blindly submit their details, get approved, and before they know it…they are hit with hidden fees, unexpected charges and an interest rate that would give anyone a heart attack. 

Here is what you will need to be eligible for an Americash loan:

  • Be a U.S. citizen
  • Must be 18 years old or older
  • Proof of residence (two recent utility bills)
  • Proof of income (2 recent pay stubs)
  • Verifiable bank account

Here’s how to apply:

Step 1: Fill in Your Personal Details

On this step, you need to complete the following:

  • First Name
  • Last Name
  • Email Address
  • Phone
  • State (click from dropdown box at the top)
  • Phone type

Step 2: Fill in Your Personal Details

On step 2, finish filling out your personal details.  This step saves your information from the previous step.

  • Date of birth
  • Home phone
  • Cell phone
  • Physical Address

Step 3: Military Information (if applicable)

Step 3 requires you to enter the following details:

  • Whether or not you are affiliated with the military

Step 4: Employment and Income Details

Now, you will need to enter your employment information and income details.

  • Employment Type
  • Employer Name
  • Employer Address
  • Employer Phone
  • Length of Employment
  • Pay Schedule (how often you get paid)

Step 5: Banking Details

Now, enter your banking information.  This allows Americash to wire you the loan funds, and, withdraw payments from your account.

  • Bank Name
  • Routing Number
  • Account Number
  • Type of Bank Account (checking or savings)
  • Length of Time Account Has Been Open

Step 6: How You Want to Receive Your Funds

You have two options to receive your funds.

  • Pick up in store (applicable only if you live in a city that has an Americash storefront)
  • Funds wired to your bank account (only available in select states)

Step 7: Sign Document and Submit Application

The Main Advantages

Unlike many installment loan providers, Americash has quite a few advantages.  For starters, they are a semi-transparent lender.  They state their APR can be a high as 521% APR.  They also have a very cool referral program. 

To add even more, they do not have a pre-payment penalty if you choose to pay the loan off early (which we recommend that you do).

Trending: Bad Credit Loan Tips to Get Financed


According to most Americash Loan reviews, they are straightforward and highly transparent with fees, loan terms, etc.  Their website contains registration certificates, legal information, as well as APR notices.  This is definitely an advantage.  However, they do not tell you the APR until you have submitted your application.

Referral Program

Another potential advantage – a referral program. This is offered exclusively to Americash customers. If someone applies for a loan with Americash Loans through your referral link, and he/she has been approved, you get $100. In addition, your family member gets a discount as well.

There Are No Early Payment Penalties

Several bad credit lenders that offer installment loans charge a pre-payment penalty.  This happens when a borrower decides to pay the loan off earlier than the agreed to loan terms.  More often than not, borrowers improve their financial situation during the course of a loan.  When they do, it makes sense to pay the loan off early to avoid the additional interest charges.  Luckily, Americash does not charge pre-payment fees.

What Are The Disadvantages of Americash Loans?

Americash Loans APR could be as high as 521 percent, depending on the soft credit check they run once your application is complete.  Once submitted, they will contact you and let you know the interest rates and terms. 

Even at a 521% APR, this still isn’t as bad as a payday loan…which can be as high as 1,000% APR.   The best thing to do is pay the installment loan off earlier, rather than later.  If you fo the full loan term, you total loan payment will likely be almost triple what you borrowed.

The Bottom Line on This Lender

Americash is not a scam.  The only downside that we see with this lender is the high interest rates.  But these are called bad credit loans for a reason.  And lenders take on significant risk when lending to people with poor credit. 

That said, if you feel like it’s a good option for you, try them out.  And if you do, let us know how it goes by leaving a review here!

By Brian Allen

Brian Allen has been helping people make smarter financial decisions for over 10 years. As the Editor-in-Chief for Goloans, Brian writes about sage financial advice, "how to" articles, and reviews about lenders and creditors.

View all of Brian Allen's posts.

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