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FAQ

We are a quick, secure, and free loan request service that connects you with a network of trusted lenders. Over two million customers have used our free service since we launched in 2015. Our mission is to help you gain access to a high-quality financial product, no matter what your credit score may be. Using our online loan request form gives you access to our growing network of lenders ready to assist you in answering your questions about cash advance and payday loans and helping you get the money you need. To start the process, click here.

OpenCashAdvance.com can't guarantee that you will be able to obtain a loan through one of our lenders.

To request a loan through OpenCashAdvacne, you will need to:

  • Be actively employed or have a regular income
  • Be at least 18 years of age or older
  • Have an active open bank checking account

*Once you are connected with a lender, they may have additional requirements.

After you submit your request, Open Cash Advance will send your information to our network of lenders and lending partners. If a lender is interested in your request, the lender will take it from there.
The maximum loan amount you may request through this site is $5,000. It should be noted that we are not a lender. It's our job to try to connect you with a lender. Your lender makes the final decisions on how much you are eligible to receive. Your state's lending regulations may also affect how much money you can borrow. For more information on specific products offered through OpenCashAdvance, click on the ‘Payday Loans’ and ‘Installment Loans’ tabs.
OpenCashAdvance.com uses strong digital security measures to ensure that all your personal and financial information is well protected. We use 256-bit encryption, which means that your personal information is safe and secure with us.

Unlike some bank or credit union personal loans, cash advances can often be used for a wide variety of expenses, including:

  • Home repairs
  • Medical bills
  • Car payments
  • Living expenses
  • Utility bills
  • Rent payments
  • Vacations
  • Debt consolidation
  • Student loans

Cash advances are a versatile loan product. Some lenders will ask you to specify what you are using the loan for, while others will not as long as you pay it back in time. Cash advances should be used for one-time emergency expenses rather than recurring expenses such as rent and utilities. Continually borrowing money for recurring expenses can lead to a cycle of debt that is hard to break.

As a short-term loan product typically used by customers who cannot obtain more favorable financing terms elsewhere, cash advances can be costly. In exchange for their speed, short-term nature, and availability to consumers who wouldn't qualify for funding through banks or credit unions is a high APR. Most of the cost of a cash advance is in interest. On top of interest on the principal amount (the amount borrowed), borrowers must sometimes pay additional fees such as finance charges, origination fees, late payment fees, and rollover fees.

OpenCashAdvance.com does not make loans and cannot quote exact costs for your online cash advance. Your lender will provide more information about the total cost of your cash advance.

In short, APR is how much it costs you to borrow money. APR includes the interest rate and fees that you must pay on top of the amount you originally borrowed (principal loan amount). Some loans have fixed APR, meaning that the amount you pay in interest does not change.
Although they are often confused, interest rate and APR are not the same things when it comes to loans. The interest rate is a percentage of the principal amount. Every loan has an interest rate. However, the interest rate is not always an accurate representation of what a loan will actually cost you. APR is a better determiner of a loan's price because it considers other fees that the lender will charge in addition to interest to take out the loan. So, APR gives you a more accurate idea of how much a loan will cost, all things considered.
Yes. While it is possible for you to obtain a cash advance if you are unemployed, not all lenders will lend to unemployed applicants. Some lenders will consider alternative forms of income, such as unemployment, disability, or Social Security checks. Some lenders will also consider self-employed or freelance individuals. As long as you can prove consistent revenue, some lenders may consider you for a cash advance.
Even those with poor credit may be eligible for cash advances. Lenders will always run a credit check, but they may take other factors, such as your ability to repay the loan, into consideration when determining whether to approve you for a cash advance.
In most cases, a cash advance does not directly impact your credit score. However, it can indirectly affect your score. Not repaying the loan on time may hurt your credit score. Also, it can have a negative impact if it pushes your credit utilization ratio over 30%. Credit utilization is used to calculate your credit score and shows financiers your ability to repay credit. Your credit report includes a history of any instances in which you were unable to repay credit. Financiers will be warier of lending to you if your credit utilization ratio is high, as you will be seen as a risk to the lender.
Because OpenCashAdvance.com does not make online cash advances and is not a loan broker, we do not conduct credit checks. However, if you are connected with a lender, they will require a credit check. This may affect your credit score.
We are not a lender and make no credit decisions. If you are connected with a lender, you may receive your approval decision soon after submitting your application. Approval varies from customer to customer. Getting your paperwork and any necessary documents to the lender promptly can expedite the approval process.
If approved, you may receive the funds in as little as one business day. Once your cash advance is approved, your lender sends your cash advance via Direct Deposit into your personal bank account. Lenders need your banking information to ensure they can make a direct deposit into a valid bank account if you acquire a cash advance. You can also repay your cash advance using the same bank account.
The lender who accepted your loan request may disclose your repayment terms on the loan agreement. This will also provide loan terms to you, including the interest rate, dates for repayment, finance charges, and more. Since we are not a lender, we cannot provide this information to you. Most lenders will either withdraw the debt owed from the same account used to deposit the loan or require you to write a post-dated check.
Your ability to reapply for another cash advance or renew an existing loan varies by state, depending on state regulation and lender policy. Some states limit what is called "rollovers," or refinancing on your loan. Also, some states limit the number of cash advances you can have at a time.
You can contact the lender for any questions regarding your loan status.
A payday loan is a small, short-term loan meant to meet an emergency expense. This type of cash advance is paid back within two weeks or when you receive your next paycheck. You can think of a payday loan as an advance on your paycheck.
You cannot borrow money through our website. We are not a lender. Using our service, you can request up to $500 in payday loans. The amount you are able to borrow will depend on your lender and your state’s payday lending regulations. For example, a lender may not offer more than $150. Or, if you live in a state where payday loans are heavily regulated, you may not be able to borrow money in excess of a specified amount, or at all.
Your lender will likely require you to meet basic lending requirements. Please note that we are not a lender. You should be a legal U.S. resident who is at least 18 years of age. You may have to present a government-issued ID, proof of income, and an active bank account. Some lenders may ask for additional documents. Some may also require a minimum monthly income and a minimum credit score.
An installment loan is a type of cash advance paid off in monthly installments rather than in one payment. You can generally get more money through an installment loan than you could through a cash advance, making these loans ideal for large expenses you would like to pay off over time. Keep in mind that the longer your loan term is, the more expensive the loan may be, because you will be paying interest on the loan for longer than you would with a two-week loan.
You cannot borrow money through our site. We are not a lender. Using our service, you can request anywhere from $500 to $5,000 in installment loans. The amount you are able to borrow will depend on your lender and your state’s short-term lending regulations. For example, a lender may not offer you more than $600. Or, if you live in a state where short-term loans are heavily regulated, you may not be able to borrow money in excess of a specified amount, or at all.
Your lender will likely require you to meet basic lending requirements. Please note that we are not a lender. You should be at least 18 years old and a legal resident of the U.S. The lender may ask to see your government-issued ID. Some may request proof of an active bank account and regular income. Some lenders may ask for additional documents and information.