Storefront and online loans for emergencies

Written by: Sarah Brady
• Updated •2 min read
This date may not reflect recent changes in individual terms.
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In a Nutshell

AmeriCash offers small short-term loans with quick funding and considers people with less-than-perfect credit for a loan. But the convenience may not be worth the risk of triple-digit interest rates.
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What you need to know about an AmeriCash personal loan

AmeriCash got its start in 1997 as a cash advance loan company.

While AmeriCash is no longer a cash advance or payday lender, the short-term installment loans it offers can still be risky. That’s because the lender can charge interest rates in the triple-digits — much more than more-traditional loans from a bank or credit union.

AmeriCash doesn’t disclose its interest rates and fees upfront — though it does list maximum rates allowed by the some of the states it offers loans in.  And it’s good to know that some borrowers report being shocked when they discovered the actual cost of repayment.

When it comes to finding the right loan for you, knowing the cost of borrowing upfront, and whether you can afford to repay the loan, is very important. Consider this when deciding if AmeriCash is the right lender for you.

Here are some other things to know about AmeriCash loans.

Who an AmeriCash personal loan is good for

Short-term installment loans from AmeriCash are designed for people in a financial pinch. If your credit isn’t in great condition and you need a small-dollar loan quickly, AmeriCash may be able to help.

If you decide that an AmeriCash loan isn’t right for your situation, asking a friend or family member for the money — or taking some time to save up the cash — could be a much cheaper and more stress-free option in the long run.

*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.

About the author: Sarah C. Brady is a San Francisco–based financial consultant, workshop facilitator and writer. In addition to writing for Credit Karma, Sarah writes for Experian, LendingTree, Magnify Money, MSN News and more. In her … Read more.