Cash Factory Payday Loans Review

Cash Factory Payday Loans ReviewCash Factory Payday Loans services the Vancouver area as well as several other locations around British Columbia. If you’re wondering if they are worth doing business with or not, we’ve reviewed this company from top to bottom and can’t find any reason not to.

In fact, they seem to be offering more options to their borrowers than most payday lenders. They have both payday loans and loans involving collateral. You’ll be able to get higher loan amounts and pay lower rates if you put something of value up against the loan. For some this might be an option, and for others it might not because the item in question has to qualify.

It’s just nice to see a lender offering more than just the usual payday loan, since a payday loan often leads to more financial trouble down the road if you get caught in the repayment trap. Loans with collateral are able to be paid off in installments, making it easier to pay it back over time and not have to come up with the full amount all at once on your next payday.

Cash Factory Payday Loans Review

It would be nice if they would let you start the application process online, but their site serves only to provide information on what you’ll need to get a loan from them. Even if you could get started by filling in some information online and then go pick up the cash in person, that might be a better system. But as it stands they don’t have that capability yet. Even some big time lenders don’t have an online application and require you to come inside in order to apply, so it’s not something you can hold against them.

Whenever a company is operating brick and mortar locations, you know that they have gone through the process of getting the proper licencing in order to conduct business in that area. You also know that they’re going to comply with the local laws and regulations. Another thing that makes it nice is that they’re giving back to the local community in the form of employing people in that town to operate it, and they will be paying the necessary business taxes as well as leasing the space and paying the utilities to run the business. Compared to an online-only lender they are more vested in the local community.

Payday Loans
They offer the conventional payday loans and have the same sort of requirements that many other lenders require. They want you to be at your job for a minimum of three months, and they want your most recent bank statement and your most recent pay stub. It’s also nice that you can get up to $1000, because at some lenders you can’t qualify for this much, even if you make enough to justify it.

Collateral Loans
An interesting feature of Cash Factory is that they will also loan you money on things that have value, like your car, boat, RV, or motorcycle. The piece of collateral must have a clear title, which will prevent many people from being able to take advantage of this offer, but for those that do have a vehicle that’s free and clear, this could be a way to leverage it to get out of a tight financial jam.

Customer Service
Call their customer service line and you’ll get a bright and cheerful person on the other end of the line ready to help you with any question you might have. This seems like a rarity in a day and age when many payday lenders don’t have a phone number that’s staffed by an actual person, or that outsources their customer service overseas. They also allow you to reach them by fax or by email, and they maintain a physical presence so you can actually go into any of their local offices and ask a question or find out more about what they can do for you.

Overall we’re giving them our nod of approval because they are doing a lot of things right when it comes to helping you get the money you need, when you need it. There

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