Summary
A short-term cash lender operating since 1996
No credit history needed to apply
Installment loans up to $5,000, title loans up to $25,000
Available in Idaho, Texas, and Wisconsin
Parent company filed Chapter 11 bankruptcy in February 2024
What Is Cash Store?
The Cash Store has been offering emergency lending since 1996. They are a cash loan lender offering cash advances, installment, and title loans.
They have three different loan options: Cash Advance, Installment, and Title Loans. The loan terms and availability differ by state.
Cash Store currently operates in three states: Idaho, Texas, and Wisconsin. Note that Cash Store's parent company, Cottonwood Financial, filed for Chapter 11 bankruptcy in February 2024, which resulted in the closure of locations in several states that were previously served.
Because of the different loan types, the loan amounts vary. Installment loans can be up to $5,000. Title loans can be up to $25,000.
Products Offered
Cash Store offers the following:
Cash advance
Installment loans
Title loans
How Cash Store Works
Cash Store is unique in that they have both an online presence and brick-and-mortar store locations in specific states.
Cash Store applicants do not need a credit history to apply for a loan.
Because Cash Store does not require a credit check, they require some documentation of income to ensure a customer is a viable option.
Documentation can be a pay stub, social security check, or other proof of income. Cash Store loans are currently available in these states:
Idaho
Texas
Wisconsin
Borrowers do all necessary paperwork online and then visit a physical Cash Store near them to get cash in hand within 20 minutes.
Loan Requirements
Here are the loan requirements when applying for a Cash Store loan:
Age 18 or older (depending on state requirements)
Live in a state serviced by Cash Store
Regular source of income
A state-issued ID or driver's license
Active checking account
The Cash Store website is where you initially apply for your loan. Once you have entered your information, the site will inform you of the amount you can borrow.
The Cash Store website is simple to use. It offers an informative FAQ section and has a straightforward layout.
Cash Store now offers the Pocket360 online portal, which lets you manage your account, view payment schedules, and track your loan balance digitally.
If you have exhausted all other alternatives and need cash on the spot for an emergency, they will offer this service.
However, if you have time to shop around and have a good credit score, then looking for a cheaper lender may be advisable.
Rates & Fees
The Annual Percentage Rate (APR) for installment loans can be as high as 780%.
Example
The APR for a $500.00 217-day installment loan with automatic debit authorization is 388.55%. The loan consists of 6 payments of $190.94 and a final payment of $190.88 due at maturity.
Payment Terms
Payment terms depend on the type of loan you take out. Installment loans are offered with monthly repayments, whereas cash advances are paid back in one single payment on your next pay date.
Title loans are based on the value of your car and are repaid on a monthly basis. Title loans are available for up to $25,000.
Cash Store works in a unique way compared to most lenders. Their process of getting a loan is divided into two portions: the online application and paperwork, and the physical location for cash pickup.
Visit the Website
Head over to Cash Store’s website here.
Apply
Complete and save the application form online.
Submit Your Documents
Gather your required documents and head to the closest physical Cash Store near you.
Get Approved
Complete the process and receive your money the same day.
Cash Store should be considered if you have bad credit and have exhausted all cheaper lending options.
The company now offers the Pocket360 portal for managing your loan payments and account details online.
Our Cash Store Review
At Financer, we recommend borrowing money cautiously. Only borrow what you need and try to find the lowest APRs possible.
Cash Store is a reputable lender that provides quick cash on the spot. With this in mind, you are paying a premium for this kind of service. Again, if you have a good credit rating and time to shop around, do so.
There may be some seasons in life that there are no cheaper alternatives, and you need a cash injection instantly.
Cash Store Frequently Asked Questions
What states does Cash Store cover?
Cash Store currently operates in Idaho, Texas, and Wisconsin. The company previously served additional states, but locations were reduced after parent company Cottonwood Financial filed for Chapter 11 bankruptcy in February 2024.
How fast can I be approved?
Same day approval, often within 20 minutes of visiting a physical store location. You complete the initial application online, then visit a store to finalize paperwork and pick up your cash.
Would there be any reason I couldn't get a Cash Store loan?
You may be denied if you don't meet the basic requirements: being 18 or older, living in a state served by Cash Store (Idaho, Texas, or Wisconsin), having a regular source of income, a valid state-issued ID, and an active checking account.
Does Cash Store run your credit?
Cash Store's underwriting process may include a check of the customer's credit record, but they do not require a minimum credit score. Applicants with bad credit, no credit history, or past bankruptcies can still qualify for a loan.
What happens if I don't pay my Cash Store loan?
If you fail to repay your Cash Store loan, the lender may attempt to withdraw funds from your bank account, send your debt to collections, and potentially take legal action. Unpaid payday or installment loans can also negatively impact your credit report and result in additional fees.
