KwikCash Loan Review 2020 – READ THIS BEFORE Applying!

Founded in 2008, KwikCash offers loans ranging from $2,500 all the way to $5,000. Its borrowers have up to 36 months to settle their loans.
Author: Nica

Last Updated: August 11, 2020

Kwikcash logo in black and blue with motto instant loans to your bank account When you need a hand, financially speaking, loan service providers like KwikCash may sound alluring. While a short term loan from the platform may be a great way to weather the storm, you need to find out all you can before signing up.

With that in mind, we have carried out a thorough review of the lender to help you get the information you need.

Read on to find out everything you need to know about KwikCash and decide whether it is the best loan provider for you.

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    KwikCash is a direct lender specializing in installment loans and serving the state of California. The lender is flexible and transparent, and strives to make loans affordable by not charging any other fee besides the interest.

    What is KwikCash?

    Man and woman smiling holding coffee on the home page of Kwikcash

    KwikCash is an installment loan service provider offering varying loan amounts to residents of California. They have been operating since 2008 have a head office in Irvine.

    Loans are accessible to all types of borrowers even those with poor credit scores.

    Pros and Cons of a KwikCash Loan


    • Does not charge any fees on top of interests
    • Offers flexible monthly repayments where you can choose your own due date
    • Long loan terms
    • There is no prepayment penalty


    • Only limited to California
    • The lender performs credit checks
    • They automatically withdraw repayments from your bank account which may result in fines if the amount is insufficient

    KwikCash vs online bad credit score lenders, how does it compare?

    Kwikcash is an online based bad credit loans provider that’s specializes in installment loans. The lender is also well-known for its extended loan repayment periods and relatively high installment loan limits. The loan application on the platform is also quite straightforward and borrowers get to benefit from its relatively straightforward loan application process. We have compared it with other installment loan providers like LendUp, Opploans, and Rise Credit and summed up their key features in this table.


    • Borrow installment loans of between $2,500 and $5,000
    • No minimum credit score
    • Loan APRSs change range from 165% to 220%
    • Loan repayment periods of between 18 and 36 months


    • Loan amount of $100 – $1,000
    • No credit score check
    • An annual payment rate of 30% to 180%
    • Loan repayment period of 1 to 12 months


    • Borrow loans of between $1,000 and $4,000
    • Minimum credit score 350 FICO
    • Loan APR averages between 99% and 199%
    • Loan repayment period ranges from 9 to 36 months

    Rise Credit

    • Offers loan from between $500 to $5000
    • Bad credit score is allowed
    • Annual rates starts from as low as 36% to as high as 299%
    • Depending on the state, the repayment term ranges from 7 to 26 months


    How does a KwikCash loan work?

    Regardless of your credit score, you can get an installment loan from KwikCash. The lender offers loans ranging from $2,500 all the way to $5,000. Loan terms vary and can range from 18 months to 36 months.

    That offers you ample time to get the repayment plan in order so as to avoid missed and late payments, which may affect your credit score. But it also means you may have to pay a lot more over the long run than you would have paid with a shorter term due to interests.

    The amount that you can access on the platform will depend on various factors. To qualify for a high loan amount for instance, you will need to have a relatively good credit score. You would also need to have a good history in terms of timely payments.

    A major highlight of borrowing from this platform is that they will not charge you any fees other than interests. Therefore, there are no origination fees, application or monthly fees.

    But installment loans are usually known for their high APRs and this one is no exception. It makes use of a fixed rate framework, and its rates cannot be said to be the highest in the market. And if you are in a position to, you can make early repayment without penalties so as to save on interests.

    The lender allows some level of flexibility in that you can choose your monthly repayment due date, to coincide with your payday.

    Like most lenders, they will carry out a credit check before approving your loan to confirm creditworthiness. This may impact your score slightly. In case they approve your application, they will withdraw repayments directly from your account on the due date.

    It is important to ensure that you have the necessary funds so as to avoid incurring late payment fees and penalties from your bank. Note that poor repayment habits will also reflect on your credit history and make it hard to access cheaper forms of funding in future.

    What loan products does KwikCash offer?

    KwikCash offers installment loans.

    What other store services does KwikCash offer?

    The lender does not offer any other store services.

    KwikCash Account Creation and Borrowing Process

    KwikCash makes use of a simple and straightforward application process for borrowers in urgent need of funds.

    1. To start with, visit the website and click “Apply Now” then fill in a basic application form.

    Client registration page of Kwikcash capturing client's basic info

    The form will require your personal details including address, social security number, employment details and income information.

    2. You will also need to specify the purpose of the loan you want to take out and the amount you want.

    3. In case they preapprove your application, someone from the KwikCash team will contact you. They will then guide you through subsequent steps.

    You may have to submit some documents, which they will verify. And if they approve your application, the lender will transfer funds directly to your bank account. This may take as short as 1 business day.

    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 KwikCash Loan

    Here are the qualifications you need to meet so as to qualify for a loan from this lender:

    • Be at least 18 years of age
    • Reside in California
    • Have an open checking account

    Information Borrowers Need to Provide to Get Loan

    In the application process, you will need to submit the following information:

    • Social security number
    • A copy of your valid driver’s license
    • Two recent paycheck stubs
    • A copy of the most recent bank statement
    • Bank account details
    • Address details
    • Income information
    • Employment details

    What states are accepted for KwikCash loans?

    KwikCash only offers services in California.

    What are KwikCash loan borrowing costs?

    The lender is relatively transparent with borrowing costs. Here are some of the fees you may need to pay:

    • APR – 165% to 220%
    • Origination fee – nil
    • Application fee – nil
    • Prepayment fee – nil
    • Late payment fee – 10%

    KwikCash Customer Support

    KwikCash has an A+ rating and accreditation from Better Business Bureau. However, there are no reviews whatsoever from its customers.

    They have an equally high rating on Trustpilot, 9.2 out of 10, with at least 300 reviews. Most of these are positive, and they hail, among other things, excellent customer service.

    Is it safe to borrow from KwikCash?

    The lender makes use of a valid security license to protect the platform and the information you upload onto it. It has 256-bit SSL encryption and its staff members are not allowed to disclose borrower information, according to the privacy policy.

    KwikCash Review Verdict

    KwikCash is a highly reputable lender, offering great flexibility, excellent customer support and long loan terms. They offer a short application process and fast approval and funding.

    As is the case with most installment lenders, their rates are on the high side, which is no surprise. The most unfortunate bit is that you can only access their services if you live in the state of California.

    If you find yourself in a sticky situation financially and reside in this state, they are a good lender for you.

    Apply for a Payday Loan Now! | Best Payday Lender 2020

    Our Rating

    Viva payday loan app company logo
    • Loans From $100 to $15,000
    • Instant Application & Approval
    • Bad Credit Considered
    • Lenders From All 50 US States Onboard
    Viva payday loan app company logo


    Glossary Of Loaning

    A scale showing a high Credit Score
    Credit Score

    A credit score shows your creditworthiness. It's primarily based on how much money you owe to loan or credit card companies, if you have ever missed payments or if you have ever defaulted on a loan.

    A green tick stamp showing Guaranteed Approval
    Guaranteed Approval

    Guaranteed Approval is when, no matter how bad, your credit score its, your loan application will not get declined.

    A stack of coins and notes to show Cash Advance
    Cash Advance

    A Cash Advance is a short-term loan that has steep interest rates and fees.

    A secured padlock and document showing Collateral

    Collateral is when you put up an item against your loan such as your house or car. These can be reposessed if you miss payments.

    A scale with coins showing a high Credit Limit
    Credit Limit

    A Credit Limit is the highest amont of credit a lender will lend to the borrower.

    5 gold stars showing a high Credit Rating
    Credit Rating

    Your Credit Rating is how likely you are to fulfil your loan payments and how risky you are as a borrower.

    A silver cog with a gold star inside

    If you default on your loan it means you are unable to keep up with your payments and no longer pay back your loan.

    A coin with a green arrow showing Interest Rates

    The Interest is a percentage based on the amount of your loan that you pay back to the lender for using their money.

    Piles of coins showing Fixed Interest Rate
    Fixed Interest Rate

    Fixed Interest Rate is when the interest rate of your loan will not change over the period you are paying off you loan.

    A calendar with an exclamation mark showing late payment
    Late Fee

    If you miss a payment the lender will charge you for being late, this is known as a late fee.

    A printed document with a crest showing a Principle

    The Principle amount the borrower owes the lender, not including any interest or fees.

    A tag with a dollar symbol highlighting Prime Rate
    Prime Rate

    This is the Interest Rate used by banks for borrowers with good credit scores.

    A and holding a pile of green cash
    Secured Loan

    A Secured Loan is when you put collateral such as your house or car up against the amount you're borrowing.

    A hand holding cash with an unlocked padlock
    Unsecured Personal Loan

    An Unsecured Personal Loan is when you have a loan based soley on your creditworthliness without using collateral.

    Two hands holding an changing interest rate
    Variable Rate

    A Variable Rate is when the interest rate of you loan will change with inflation. Sometimes this will lower your interest rate, but other times it will increase.

    a credit card with gold coins
    AAA Credit

    Having an AAA Credit Rating is the highest rating you can have.

    A small bridge
    Bridge Loan

    A Bridge Loan is a short term loand that can last from 2 weeks up to 3 years dependant on lender.

    A calendar and tools to show an Installment Loan
    Installment Loan

    An Installment Loan is a loan that is paid back bi-weekly or monthly over the period in which the loan is borrowed for.

    A graduation cap and price tag
    Federal Student Loan

    If you obtain a Federal Student Loan to pay your way through College ten you loan is held with the U.S. Department of Education.

    A graph with a magnifying glass
    Financial Aid

    Financial Aid is funding available to post-secondary education students in America.

    A grey bank building with a green dollar symbol inside

    A Guarantor co-signs on a loan stating the borrower is able to make the payments, but if they miss any or default the Guarantor will have to pay.

    Homes on scales balanced with money
    Home Equity Loans

    Home Equity Loans is where you borrow the equity from your property and pay it back with interest and fees over an agreed time period with the lender.

    London Inter Bank Offered Rate

    LIBOR is the London Inter-Bank Offered Rate which is the benchmarker for

    Gold coins being fed into a larger doller weight
    Debt Consolidation

    Debt Consolidation is when you take out one loans to pay off all others. This leads to one monthyl payment, usually with a lower interest rate.


    Can I get funding from KwikCash if I live outside California?

    No. You cannot access funding from the platform if you live in any other state.

    Am I eligible for a KwikCash loan if I have recently filed bankruptcy?

    Yes. The lender accepts applications from persons who have filed bankruptcy. But the terms may not be the most favorable.

    Are there any penalties for late payment?

    Yes. You will pay a $10 penalty for a late payment, but only after missing your due date by 10 days.

    What is the procedure for making an early payment?

    You would need to contact the customer service team and let them know you want to make an additional payment.

    What will happen if I cannot make a payment on time?

    To avoid damaging your credit score, you should contact the support team to get an adjustment on your payment schedule.

    US Payday Loan Reviews – A-Z Directory

    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.

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