Owens Loan Servicing operates the company Quick Cash USA, which facilitates personal loans of up to $5,000 to borrowers who qualify, according to the company website. Apply online at QuickCashGuaranteed.com by clicking the Apply Now or Get Approved Now buttons on the home page.Continue Reading
Quick Cash USA arranges personal loans with various lenders after the borrower submits his personal information online. Payday loans of between $100 and $1,000 and installment loans of up to $5,000 are available, according to Quick Cash USA. Applicants usually must be 18 years or older and have been employed at their present jobs for at least 90 days. They also need to have an income of around $1,000 per month and be U.S. citizens or legal permanent residents of the United States. A checking account in the applicant's name, from which the lender withdraws all loan payments, interest and late fees automatically, is usually required as well.
Payday loans are short-term loans that are due in full on the borrower's next payday. However, many lenders allow interest-only payments and loan renewals, or "rollovers," that increase the life of the loan, explains the Consumer Financial Protection Bureau. As of 2015, typical fees on a two-week payday loan are about $10 to $30 for every $100 borrowed, which is an annual percentage rate of nearly 400 percent. By contrast, the interest of most credit cards is between 10 and 30 percent. Many states have laws that curtail payday lending in some way, reports the National Conference of State Legislatures.Learn more about Personal Loans