Yet another tribal payday lender has appeared on the horizon. Wow, no one saw that coming out of the financial landscape. The new tribal lender is a company called Fast Money Store. And the answer is no right off the bat, this is not a true "store" this is just another website business being operated by another tribe, which is built to offer very short-term loans.
The overpriced payday lenders just never get tired of offering their low quality, quite useless loan product. The payday loan is one of the most inefficient and waste of time lending experiences you will ever go through, should you actually say yes to a company like Fast Money Store.
One strange fact, really it's just an aside because it'll have no ramification on you whether you borrow from this lender or not, is that there appears to be another tribal lending outfit standing behind Fast Money Store. While this isn't all that odd, what makes it strange in the case of Fast Money Store is the sloppy, unconcerned way that the company website displays this 'behind the scenes' secondary firm.
The tribal organization that provides funding to Fast Money Store is called Cash Cloud, LLC. Normally you wouldn't see this company on the retail site but when you go to the "About Us" page on their site the verbiage suddenly starts talking about loans provided by Cash Cloud. What in the world happened to Fast Money Store? I mean, you are at the Fast Money Store website and now out of nowhere the language is talking about getting a loan from Cash Cloud. That's just unprofessional.
I know what's going on, the Cash Cloud company is funding the Fast Money Store website and business, but why would you (as the site owner) just make things so confusing for the customer who is considering a loan with your company? It's just a bad move and it makes this lender just appear as if no one is at the helm of the ship.
One more note about the website, it's just not a very good website because it has the ".net" site handle as opposed to the more professional and accepted '.com' which people are much more familiar with. The site also doesn't talk about website security or encryption services either, so the firm is not doing much to help customers feel secure about doing business and sending their private information over the web with this site.
This lender offers up to $500 in a payday loan, which will be due on your next payday, or potentially the payday that follows the next one if the loan is taken out close enough to your next pay date.
Make sense? Well, even if it doesn't there is no reason to worry because I will tell you right now that you do not want to use this payday loan for any of your financial worries, problems, difficulties and deficiencies.
It simply will not help you at all. Now, perhaps there are the 1% or 2% situations out there were it could feasibly help a consumer who is about to have their checking account shut down due to ongoing overdrafts or some other pre-existing financial problem.
With those slight exceptions there is no reason to "take advantage" of the loan product(s) offered by Fast Money Store. The normal tendency when taking out a loan is for it to help fill some need in your financial life. You will use the funds now to pay for something and in the future you will repay those funds with some interest so as to provide the lender with some profit (that's the incentive to lend) so everyone is theoretically a winner.
That's not how things will end up if you borrow from Fast Money Store. You won't have a good experience and it will not help your financial problems. So where do you turn now that Fast Money Store is not an option? Try Mobiloans and Plain Green Loans if your credit history is weak (read that as bad) and if you credit is not too bad then try applying with more mainstream unsecured lenders such as Springleaf Financial or OneMain Financial.
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