Cash Factory USA Loan Review – READ THIS BEFORE Applying!

Last Updated: 23. September 2019
Rate this post

At times, getting over the period between paydays is challenging, and a payday loan could offer a way to survive. Cash Factory USA is a payday loan provider in the US, but is it your best choice of platform?

In this comprehensive review of the platform, we will take a look at its services, key features, merits and demerits.

By the end of the review, you will be in a position to tell whether it is the right one for you. Read on to make an informed decision.

Cash Factory USA is a short term lender offering payday and installment loans. Services are available in only 9 states. The lender strives to be transparent, showing the cost of borrowing upfront.

What is Cash Factory USA?

Cash Factory USA is a direct lender offering access to funding in 9 US states. It offers two main short term financing options and strive to be transparent in their dealings. Its corporate headquarters are in Las Vegas, Nevada.

Pros and Cons of a Cash Factory USA Loan


  • Transparent fee framework
  • You can cancel the loan without paying any fees
  • Lender has a mobile app
  • Fast loan approval and funding


  • Extremely high interest rates
  • The company provides little information about itself
  • Services are only available in 9 states
  • Low loan limits

How does a Cash Factory USA loan work?

Cash Factory USA offers services in just a handful of states, in the form of payday and short term installment loans. These vary in amounts, ranging from $100 to $1,000.

The amount you can access from the lender will mostly depend on your state of residence and individual circumstances. Loan terms can last from two weeks up to 6 months for these loans.

Among its top highlights is the fact that the website lays bare all the details you need in relation to the borrowing costs. This is unlike a majority of short term lenders. Who only let you see the rates once you complete the application process.

Adding to the transparency is the fact that they provide multiple examples of loans and potential costs in the different states where they offer services.

Another highlight is the fact that after borrowing from the platform and receiving funds, you have the option of returning the funds. If you get in touch with the team within a span of 1 to 3 days after getting the case, you can return it without paying any fees.

Loan cancellation terms however vary from one state to the next. If you are a resident of California or Nevada, you must cancel before 5:00 PM PT on the business day after you finalize the loan agreement.

In Wisconsin, you have to cancel within one business day after signing the loan agreement. And in Missouri you must cancel before 5:00 PM PT on the day after agreement finalization. Texas residents have the most time as they need to cancel before 12:00 AM CT on the third day after finalizing the loan agreement.

What loan products does Cash Factory USA offer?

Cash Factory USA offers two main loan products:

  • Payday loans (which the site refers to as short-term loans)
  • Installment loans

What other store services does Cash Factory USA offer?

The lender does not offer any other store services.

Cash Factory USA Account Creation and Borrowing Process

Creating an account on Cash Factory USA is quite simple.

1. Visit the website and on the box labeled “Welcome Back,” click on the “New Customer” button at the bottom.

2. Start the application process by selecting your state, choosing a loan amount and then clicking “Get Started.”

Here, you will get a countdown timer showing the time you may have to wait till the next batch of funding.

3. Fill in the basic information which includes your email address and loan amount.

4. Next, fill in the required personal information including your full name, date of birth and social security number.

5. Provide your contact information starting with home address and city, then the zip code and primary phone.

6. Once you have done that, enter your employment information including income source, monthly income, pay frequency, payroll type, employer, work phone and upcoming pay dates.

7. Finally, provide your bank account information including the bank name, routing number and account number.

Then tick the boxes concerning military status and click “Submit” to complete the process.

It might take as few as 60 seconds to get a response on your loan application, and up to 1 business day to get funds.

It’s essential to be cautious during the sign up process for these products. This is because you can end up owing two to three times what you borrow on the longer-term loans, and many have difficulty repaying the short-term loans without reborrowing.

Eligibility Criteria for Cash Factory USA Loan

In order to qualify for a loan from this lender, there are a number of qualifications you need to meet:

  • Be at least 18 years or older
  • Have a government-issued ID
  • Be a US citizen or a permanent resident
  • Have a bank account
  • Provide proof of income

Information Borrowers Need to Provide to Get Cash Factory USA Loan

When applying for a loan from this platform, you will need to provide the following information:

  • Name
  • Date of birth
  • Social security number
  • Monthly income
  • Pay frequency
  • Bank details
  • Proof of residence
  • Proof of income
  • Copy of state ID or driver’s license

What states are accepted for Cash Factory USA loans?

The lender offers services in a number of US states including:

  • California
  • Delaware
  • Idaho
  • Missouri
  • Nevada
  • Ohio
  • Texas
  • Utah
  • Wisconsin

What are Cash Factory USA loan borrowing costs?

As a short term lender, Cash Factory USA is a high cost source of funding. Take a look at the costs you may have to deal with when borrowing from the platform:

  • Lowest Starting APR – 207.7% (California)
  • Highest Starting APR – 547.36% (Wisconsin)
  • Maximum APR – 3,647.08%

Cash Factory USA Customer Support

Based on online reviews, Cash Factory USA support team has an excellent reputation. The platform is not accredited with Better Business Bureau and does not have an official rating.

But on Trustpilot, it gets 4.7 out of 5 stars, with 81% of 1,199 customers rating services as ‘Excellent.’

Is it safe to borrow from Cash Factory USA?

The lender strives to keep user data safe by encrypting all the data users submit through the online application. It is licensed in all of the states where it operates and goes the extra mile by having a page for helping customers to stay safe on the internet.

Cash Factory USA Review Verdict

As a short term lender, Cash Factory is certainly an expensive source of funding. But on the plus side, it has a great reputation online and offers fast loan processing and funding. You also get to cancel your loan without penalties if you get buyers’ remorse after accessing funding.

Overall, it is a great choice of platform if you live in a state where services are accessible and have no other way out.


Can I extend my loan?

If it is an installment loan, you cannot extend it. But for payday loans, it will depend on your state of residence.

Can I pay off my loan early?

Yes, you can make an early repayment without any fee or penalty.

What if I do not pay my loan or pay late?

Non-payments and late payments may attract additional fees, collection activity or both.

How can I change my bank information?

Log in to site and then click the icon adjacent to your name and select “Payment Methods.” Add a bank account and verify the information then contact the support team to update the information.

When is the lender’s business hours?

The lender works from Monday to Friday, 6:00 AM to 7:00 PM PST and on weekends from 6:00 AM to 6:00 PM PST.

All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.

Nica is a BA Political Science degree holder who fell in love with writing after college. She specializes in financial technology and cryptocurrency. At her young age, she was already able to work with founders who graduated from Harvard, tech startups funded by Y-Combinator, CEOs of multi-million dollar blockchain companies, investment companies in London and many more.

Write first comment


Your email address is not published.