Is Loan Instant Cash a lender?
Loan Instant Cash is not a lender, does not make credit decisions and does not broker loans. We operate a free request form that shares your information with independent third-party lenders, and any lender that responds sets its own rates, fees and terms.
Submitting a loan instant cash request does not create a loan, and it does not obligate you to accept anything. If a lender presents an offer, the lender's own agreement controls your loan, and you should read it in full before you sign. We are not an agent or representative of any lender, and we do not endorse any particular lender or loan product.
How are we compensated?
Lenders and marketing partners pay us for requests submitted through our form, and sometimes for requests that lead to a funded loan. Borrowers never pay us a fee for using the service, and no fee is added to your loan because of us.
Compensation arrangements differ by partner. Some pay a set amount for each request they receive, some pay more when a request meets criteria they choose, and some pay only when a loan funds. Partners may also advertise on our site. Any origination fee, interest charge or other cost you pay comes from the lender and appears in its disclosures, not ours.
How can compensation affect which lenders see a request?
Compensation may influence which lenders join our network, the order in which lenders receive a request, and which lender's offer you see first. Matching also depends on your state, requested amount, income and credit profile.
A lender that pays more may receive a request before a lender that pays less, as long as both serve your state and loan range. As a result, the first offer you see may not be the lowest-cost offer available to you, either within our network or elsewhere. Our network does not include every lender or every loan product on the market.
Our editorial guides, including our explanation of current personal loan rate ranges, are written independently of partner compensation. We encourage you to compare any offer with credit union loans, bank loans and other alternatives before you decide.
What does a representative loan cost?
A representative $500 loan repaid over 12 months at 26.48% APR costs about $47.88 per month, with $574.58 repaid in total and $74.58 in interest, assuming no origination fee. These figures are estimates only.
| Loan amount | Term | APR | Est. monthly payment | Est. total repaid | Est. total interest |
|---|---|---|---|---|---|
| $500 | 12 months | 26.48% | $47.88 | $574.58 | $74.58 |
Your actual APR, payment and total cost depend on the lender, your state, the amount and term you choose, and your credit profile. An origination fee, if the lender charges one, increases the total cost and the APR.
What APR ranges and terms are typical?
APRs vary by lender, state and credit profile. Mainstream online personal lenders typically range from about 6% up to 35.99% APR, while some state-licensed small-installment lenders charge more where state law allows. All figures are estimates.
Loan amounts requested through our form range from $500 to $5,000. Repayment terms are set by the lender and commonly run about 3 to 36 months, depending on the lender and state. Shorter terms usually mean higher monthly payments but less total interest; longer terms lower each payment but raise the total cost. The APR definition in our glossary explains how interest and fees combine into one yearly rate.
Is the service available in every state?
Lender availability varies by state, and not every lender in our network operates in every state. Some states restrict certain loan types, amounts or rates, so the number of lenders able to review your request may be limited or zero.
State law also sets minimum borrower ages, maximum fees and licensing rules. Residents of some states may receive fewer offers, different terms or no offer at all. Lenders, not our service, determine whether they can lend in your state.
Will a request affect your credit?
Many lenders use a soft inquiry to prequalify, which does not affect your credit score. A lender may run a hard inquiry when you accept and finalize an offer, which can lower your score slightly for a time.
Lenders may also check alternative data sources, such as specialty consumer reporting agencies or bank account history. Read each lender's disclosures to see which checks it performs and when. Submitting a request does not ensure approval, and borrowers with fair or bad credit may receive fewer or more expensive offers.
What happens if a payment is late or missed?
Late or missed payments may lead to late fees, returned-payment fees from the lender or your bank, collection activity and negative reports to one or more credit bureaus, which can lower your credit score and limit future borrowing.
Each lender sets its own policies within the limits of state and federal law, and those policies appear in the loan agreement. A lender may contact you by phone, email, text or mail to collect an overdue amount, and it may refer a delinquent account to a collection agency or, in some cases, pursue legal action. Federal law, including the Fair Debt Collection Practices Act where it applies, limits how debts can be collected.
If you expect trouble making a payment, contact your lender before the due date. Many lenders can offer a short extension or modified schedule, and a nonprofit credit counselor can help you review your options at little or no cost.
Can a loan be renewed or extended?
Renewal, extension and refinancing policies vary by lender and by state law. Some lenders allow a renewal or new loan to pay off an existing one, while others do not, and renewing often adds fees and interest.
Before accepting any renewal or extension, ask the lender for the new APR, total repayment and payment schedule in writing. Repeatedly renewing a loan can raise the total cost well above the original amount borrowed.
What does E-Sign consent mean?
E-Sign consent means you agree to receive disclosures, notices and agreements electronically and to sign them electronically. Under the federal E-SIGN Act, an electronic signature carries the same legal weight as one on paper.
When you submit our form, you consent to receive communications from us and from lenders electronically, as described in our terms of use. You may withdraw that consent or ask for paper copies by contacting the lender, though some lenders cannot process a loan without electronic consent. Our privacy policy explains how your information is shared with lenders.