Frequently Asked Questions

  • What is a Speedy Loan?
  • What is a installment loan?
  • How is my cash advance calculated?
  • Is my loan renewable?

We get many inquiries everyday, and it's likely you'll be able to find your answer below. If you don't find the answer here, contact us or phone us at 855-885-4026 for a quick reply.

Q: What is Speedy Loan?

A: Speedy Loan is a lead provider for installment lenders. Our network consists of approved, qualified installment lenders whom we match to you based on your requirements. Speedy Loan never charges you for its services.

Q. Can you explain what a installment loan is?

A. Installment loans are cash advances, or short term installment loans that bridge your immediate cash needs until your next payday. Of course, you should evaluate all your alternatives before deciding to take out a installment loan.

Q. What are the limits on borrowing?

A. Once a lender approves your loan, the amount can be as much as $1,000. The maximum amount you can borrow is contingent upon your income level and/or other criteria established by your lender. Lenders endeavor to provide you as much cash as you want, but keep in mind that installment loans are but one part of your potential short-term financial solutions.

Q. What is the procedure for receiving my loan?

A. It couldn't be easier! Simply fill out our short online application form - it only takes a couple of minutes. We instantly match your request to one of the lenders in our network. The lender will then quickly verify the information and arrange the loan agreement. After you electronically sign the loan agreement, the lender will electronically deposit your money directly into your bank account. Expect to have your cash advance by the next business day, although this will vary by lender.

Q. Who are the lenders in the Speedy Loan network?

A. Speedy Loan works only with licensed lenders who meet all regulations and subscribe to a strict code of conduct. The lenders arrange loans of typically two-to-four week duration, for amounts ranging from $300 to $1,000. Factors taken into account by our lenders include your income and the amount of time you've worked at your job.

Q. How is repayment calculated?

A. Each of our lenders will disclose their rates in detail for you to read and understand. The information disclosed includes the annual percentage rates (APRs), fees and any other charges, such as late fees. You will be told exactly how much you will be lent and how much you need to pay back by a particular date. Remember, you are never under any obligation to agree to a loan - never sign a loan agreement unless you fully understand and agree with all terms and provisions.

Q. What happens if I miss a repayment?

A. Each lender's agreement spells out the consequences of a late, partial or missing payment. These may include additional fees, legal actions and notifications to credit bureaus. You should discuss repayment problems with your lender. If you have trouble contacting your lender, please let us know. All lenders in the Speedy Loan network have superior customer service departments.

Q. Is my loan renewable?

A. The renewal terms offered by the lenders in the Speedy Loan network vary. Your loan is due on your next pay date. Some lenders may offer you alternative options for payment. For instance, you may be allowed to renew or extend your loan for an additional fee. You should thoroughly understand your lender's renewal policies before signing your loan agreement, and make sure to tell your lender of your renewal preferences. If any questions arise, speak directly with your lender - they will be happy to answer any concerns you may have. Customer Service is a key requirement to remain in the Speedy Loan network.

Q. How secure is my application?

A. Speedy Loan and its network of lenders take pride in our commitment to secure, confidential and private information. We will keep your personal information confidential at all times.

Q. Will I need a good credit rating or collateral?

A. No. The lenders in Speedy Loan's network do not require collateral. If you have a bad or non-existent credit rating - even if you've experienced a bankruptcy - a cash advance may be a perfect solution, because it depends only on your current circumstances.

Q. How do I get my cash advance and how quickly will it come?

A. When you fill out the Speedy Loan application, we instantly match you to a lender on our network. Often, the lender can give you an instantaneous approval and will wire the cash directly to your bank account, typically within one business day of approval.

Q. Is the website secure?

A. Yes, we use 128 bit SSL (Secure Socket Layer) encryption technology to safely transmit your data.