Frequently Asked Questions

What is a deferred deposit loan or Cash advance?
Deferred deposit loans and cash advance loans are the same thing.  They are short-term personal loans. For many of our customers it's the easiest and fastest way to emergency cash between paydays.  Cash advances are generally due on your next pay date.

Who qualifies for a cash advance?
To qualify for a cash advance you only need to meet the following requirements:
• Current Income
• A checking account
We do not perform credit checks, so even if you have bad credit, no credit, or a bankruptcy you can still qualify.

Do I need to fax anything?
You can if you choose to, or you may bring the documents into a location near you.

When will I receive the cash advance?
Customers typically receive loan approval within 10 minutes of applying, and receive the cash advance loan amount the same day.
 
Do you perform Credit Checks?
Federal Cash Advance does not perform credit checks on our cash advances.

Is there an application fee?
No

How much money can I borrow?
Your actual loan amount is determined by various factors including state law, income, length of employment, and other outstanding loans. You can borrow from $100 - $1,000.

How much does a cash advance cost?
Federal Cash Advance charges a fee of $15 for every $100 borrowed up to $300 and $10 per hundred after that per $500 loaned. Please see our Disclosures section for detailed rate information.

When is my loan due?
Cash advances are usually due when you receive your next paycheck.  The standard time for loan repayment is usually no less than twelve days or on your next payday. You may also pay back your loan early without prepayment penalties.

How do I pay back my loan?
You will receive a courtesy call from one of our customer service reps usually the day before your loan is due to see what time you would like to pay on your advance and to see if you will be needing to re-borrow from us. You will pay back the advance amount plus the advance fee. If you plan to re-borrow, bring in a new blank check with your payment, and we will re-submit your information to the state database to get you going. Re-borrowing takes less than five minutes. It's that simple.