Cash 101 Review

Cash 101 ReviewCash 101 promises quick payday loans and says that you might have heard them on the radio. With all of the different ways to get fast cash how can you really know if this is your best choice? We put them through out proprietary evaluation process to see how they measure up.

The first thing we discovered is that they are not a direct lender, and they also don’t consider themselves a broker either. They refer to themselves as a matching service whereby they are taking your application information and matching it up with lenders that are in line with the loan amount you’re seeking and your income level. These sites are very popular, and the majority of sites you find for payday loans are in fact not direct lenders. They take a finder’s fee from the lender, so these services are free to the consumer.

There’s not really much going on with this site, aside from it collecting your information on the application form, and passing this along to interested lenders. The value that they’re providing is that you don’t have to fill out an application over and over again just to find out that you don’t quite meet what they’re looking for in terms of a borrower. But in the world of payday lenders the requirements are pretty straightforward, and if you don’t meet it for one, you’re likely not to meet it for another.

Cash 101 Review – Is It Worth It?

Cash 101 has an easy to use interface, and an application that is hosted on a secure server, a very important features that makes it so your information is encrypted before being sent along. Since this is asking for your personal financial information such as how much you make, as well as your banking account numbers, you don’t want to be careless and enter it at a site without the proper precautions in place.

Not An Endorsement
They’re quick to point out that they are not endorsing the lenders they are matching you with, which sheds a bit of light on how much they’re doing or not doing as far as providing value. There isn’t a screening process involved, they aren’t pre-approving the lenders that they match you with, they are simply sending your information to lenders that have their requirements set at levels that you fall under.

All Online
One of the features that Cash 101 lists is that the entire approval process is done entirely online. The reason this is important is that some lenders want you to submit a fax that shows your pay details as proof of employment and proof of income. By compiling a group of lenders that does not have this requirement they are saving you from having to find a place to fax your information, and you can do the entire transaction completely online making it very convenient, and saving you from fuel costs and mileage on your car just to fax a document.

No Credit Required
They point out that you don’t need good credit to get a loan with them, and that’s pretty standard in this industry. Payday lenders realize that if your credit was better you’d be getting a signature loan from the bank so that you could pay it off over time and get a decent interest rate. The entire industry would crumble if they started doing credit checks, and your job acts as your credit, showing a bit of stability and a way that you can pay off the loan when the time is due. That’s all they really care about. The lender wants you to not only take out this loan, but the next one and the next. They don’t care if your credit is less than stellar.

Our Recommendation
This appears to be a pretty good matching service to go with. While they don’t endorse the lenders on their list, it seems that they have done some picking and choosing and have at least filtered out lenders that require a fax. If you’re looking for a no fax lender and you want to make sure that you don’t spend hours searching for one, this could be the way to go. In all likelihood you’ll be paired with a lender successfully and won’t need to look further. Worst case scenario it doesn’t work out and you’ve only wasted a few minutes to try it.

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