Frequently Asked Questions

What is a cash advance?

A payday advance is a short term financial assist without the long term obligation. It’s a quick, easy and confidential way to get some cash..

How do I qualify for a cash advance?

You would only need a couple of things:

-Open and active checking account for at least ten days

– Proof of current income

How much of a cash advance can I get?

You will be able to apply for a cash advance from as little as $25.00 to anywhere up to $600.00. The amount that you will be approved for will be determined by the information you provide Instant Cash Advance.

What types of fees are applicable and how much are they?

We charge the fees allowed by state law.  For a complete fee breakdown, please refer to our cash advance fee schedule.

Can I still get a cash advance if I have bad credit?

Yes those with “bad credit” can still get a cash advance. We use Factor Trust Credit Reporting. They are considered a “soft” credit check. This allows most customers to qualify for our loans despite their credit situation.

Is my payday loan secure and confidential?

Yes, Instant Cash Advance has the highest standards. We do not disclose your information other than as allowed by federal law.

Why choose a payday loan over other alternatives?

Payday loans are quick, easy, and confidential. Other loan processes require hidden fees, are lengthy processes, and often require much deeper background information. Our fees are also much more affordable than overdraft fees that are incurred from a banking account.

There are rumors that Payday Loans are a scam and only take your money. Is this true?

No, payday loans are an excellent alternative to conventional loans in many instances. ICA will always provide you with great customer service, guaranteed.

Am I able to renew my loan?

In order to renew a loan, their past loan must be paid off and must have remained up to date on past payments. The customer must update their contact information to the most current information and bring in your most current bank statement and check stubs. Amount of the new advance will vary on if your financial situation has changed. A loan fee is applied to the advance amount (amount varies depending on size of the loan taken out – see our loan fee page), along with a state fee.

Do I have repayment options or what are the implications if I cannot repay the loan back right away?

If the customer is eligible for a re-payment plan (RPP) and wishes to exercise their right, it can only be entered into an RPP at the branch location in which the advance was originally taken out. After entering the appropriate information into the Repayment Plan Contract, the employee will verify the customer’s next 3 pay dates, the total due will include the RPP fee and be divided into 3 equal payments. Customer must pay each installment in cash, cashier’s check or money order. Payments may be made on or prior to an installment due date and must be applied toward the most current installment due. Defaulting on the repayment plan includes missing a scheduled due date and/or paying less than the determined amount. We send the check to the bank for the entire face value.

Are there implications if I just can't repay the loan?

We will make numerous attempts to contact you with the information that you provided. Failure to contact us immediately to satisfy this debt will leave us no choice but to pursue other avenues in the collection of your contractual obligation. This could include civil litigation or sale of the debt to a third party collection agency. Other than if the customer entered the RPP (as listed above) no additional fees other than the RPP fee or NSF fee (if necessary) is applied to the loan.

How soon can I receive my cash advance?

You can receive your cash advance as soon as 15-20 minutes if you are applying at one of our physical locations. If approved, you will walk out with money the same day!

How do I repay my cash advance?

It’s simple; you have the choice to pay with cash or a money order.

How is my re-payment due date calculated?

All cash advances are generally due on your next payday.

Can I pay my loan back early?

Yes, you can pay your loan back early. In addition, if you repay the loan in its entirety with 1 business day of taking out the loan, you will be entitled to a refund of the fees you paid upon origination.

After my existing cash advance is paid, how soon after can I apply for another payday loan?

You can apply for a cash advance the same day

Are there any application or processing fees?

There is no application or processing fees.

What is the current price for gold buying rates?

The current rates for gold buying fluctuate daily based on the market; however, at Instant Cash Advance, our gold buying rates are the best in the state.  Please call or stop in for the current gold buying rates.

How is the final sale price calculated?

The final sale amount is calculated based on the current gold rates, total weight, and karats. A trained professional will examine your jewelry and provide an accurate assessment on the spot.

Do you accept any other precious metals?

Yes, along with gold, we also accept silver and platinum.

How soon will I receive my cash if I sold my jewelry?

You will receive payment for your jewelry on the spot and will walk out the door with cash.

Do you accept broken jewelry?

Yes, we accept any broken jewelry no matter the condition.

We can help you with that!

Contact us here at Instant Cash Advance any time if you have any questions.

Instant Cash Advance has provided assistance when I really needed it. In emergency cases of need I have received funds to pay housing costs and transportation related costs. Without the funds available to me through Instant Cash Advance, I possibly would not have a place to live in Michigan where I work, or a car with gas and insurance to get to work. I have enjoyed the business and friendly relationship with Instant Cash Advance personnel.

Allison G.

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