Allied Cash Advance Reviews
Allied Cash Advance has been licensed to offer lending services from 1991. With both stores and online platform, the company has been a good companion to all people seeking fast cash. However, the online platform has been positioned to serve as a lender matching service unlike at the store fronts where it’s a direct lender. Either way, the access to cash is quick.Website: www.alliedcash.com
Allied Cash Advance is loan service provider and they have been in operation since 1999. They specialize in offering short-term loans that include payday loans and installment loans. The company has both physical stores and an online platform. However, on the physical stores, the company acts as a direct lender but their website AlliedCash.com is only a platform to match lenders to qualified borrowers. Upon approval of your loan by a lender, the company claims to erase all your records on their website.
This company provides their lending services exclusively in their stores where you can get same day loans. To qualify, you need to carry documents like current pay stub or any proof of stable income, government ID, a check from an active checking account and evidence of your social security number. Once the documents have been verified, you can get approval in a matter of minutes where you will be required to decide how you will pay the loan depending on your payday intervals. The next step will be verifying the loan agreement and sign it before you walk out with the money.
For online applicants, you are required to fill out an online form and the details you provide will be used to match you up with the most suitable lender. Once the application is approved, you will receive a notification. You will then be asked to specify your interval of payment depending on your pay schedule and then you will sign the agreement electronically. Typically, the money will be available in your account on the following business day.
The maximum amount that each applicant can borrow is dependent on the state laws and the monthly income. Allied Cash Advance will use the details of your employment to decide how much you qualify to borrow in accordance with the guidelines provided by each state.
The company also claims that for payday loan applicants, it will not perform credit checks. However, they only state that they won’t ask for a report from the three major credit bureaus which means that people with poor credit scores may qualify for a loan.
To apply for the two types of loans offered you need to have:
- Proof of a stable income which is normally a paystub but other documents may also be acceptable.
- An active checking account and carry a check to the Allied Cash store.
- Acceptable proof of identity which can be a driver’s license or a passport.
Cash advance loans offered by this company are due by the next payday. The amount of money you can get with this category will range between $50 and $1500 depending on your state of residence. However, personal details such as monthly income will contribute the exact amount. In some states, it’s also possible to extend the repayment date. While an extension may seem appealing, this will increase the cost of borrowing and as common with payday loans, you may end up paying interests that are higher than the principal borrowed.
Though installment loans are available in selected states for this lender, they only provide a matching service for online installment loans. Once a match is found, you can access money and be allowed to pay back in small payments that have been staggered over a long period of time. Also, you can be allowed to select a custom payment schedule that you are comfortable with. With installment loans, the longer the repayment period the higher the charges you will pay.
In the event where you are not able to make payments on your loan, the company contacts you to recover their money. This can be done in several ways including turning over your account to third party debt collectors.
On their website, Allied Cash Advance does not provide specific information about their rates and fees. However, you will receive a document with clear fee and rates upon loan approval. Because of the company’s role as an intermediary, you may get different rates from different lenders on the network.
The company also states that it will charge penalties for late payments and insufficient funds in your checking account. Additionally, the bank may also charge you for returned checks.
Secondary sources confirm that the typical range of APR is about 267% to 573% which may vary depending on states of residence. To get a definite rate for your loan visit their website and enter your ZIP code for an overview.
The company has been in the lending business for more than a decade and therefore it has a track record. You know that if you make an application, you can receive the money if approved.
They operate more than 150 stores where you can walk in and make an application. The process is fast and you can get the money on the same day.
People with bad credit records can apply for their loans and they are likely to qualify since there are no records from major credit bureaus requested.
With an online platform, it’s easy to find a lender when you have run out of other options in your state. Additionally, states that are not well covered by payday lenders can access loans from the network of lenders.
The company also allows you to choose a custom payment schedule to suit your needs and this works well when you don’t want to pay huge sums at once. Also, you can get an extension for your loan if that is allowed in the state.
Perhaps one of the attractive offers is the discount you receive for referring a friend. They offer up to $500 when you refer a friend. The first offer is a $50 e-gift card that you can redeem on Tangocard.com.
If you change your mind about an approved loan there is an option of returning the money at no extra cost.
At the moment company offers their services in Michigan, California, Alabama, Virginia, Louisiana, Texas, Colorado, Indiana, Arizona, and New Mexico.
For all the online loans offered in all states through AlliedCash.com are not directly offered by the company and the website only acts as a matching platform.
Official website offers e-gift cards to customers who refer their friends to their service. The gift card can be redeemed at Tangocard.com and used in Amazon, Wal-Mart, Target, and i-tunes.