US Fast Cash has been growing lately and there are some new developments involving the company. In September 2013 the company, along with at least 30 plus other lenders, was warned by the state of New York to cease and desist in their lending practices within the state of New York.
Remember that US Fast Cash is tied to United Cash Loans and 500 Fast Cash, all of these companies are funded through the same source and they all originate from the same tribe. If you look closely at these three different companies (three different websites) you'll notice that they are almost identical. And if you check to see what business features are offered in their loans you will see that their loan products are truly identical.
So whether you do business with US Fast Cash, 500 Fast Cash or United Cash Loans you are technically borrowing money from the same lending institution. This is like the equivalent to a bank holding company, where one large entity will have a number of banks all under one corporate umbrella organization.
They are not similar in nature, these are essentially clones with all the same features, rules, costs, rates and terms. So if you are interested in the financial product that US Fast Cash offers (and we will be getting into why this is questionable shortly) then you definitely want to look at both 500 Fast Cash and United Cash Loans because you will find some very familiar content and website structure.
Now that we understand the fact that these tribal lenders are not different the next question (the real question) is whether you should use any of these lenders? US Fast Cash is one of the oldest Native American loan companies out there which would make you think they must be one of the better firms, right? Otherwise they would not have been around so long.
The truth is they exist in a vacuum...
Most people who start looking online for loans turn to tribal loan companies because they find out that their customers do not need any credit. It doesn't matter if you have decent credit, bad credit, terrible credit or no credit at all in the world of tribal lending because these loan firms are not involved with the normal credit monitoring services that we have all become too familiar with.
Instead, these tribally affiliated outfits like to make sure you have a job (sometimes they check to see how long you have been on the job, some firms require that you have worked there for at least 90 days or some other set period of time.
The only other major requirement is that you have a functioning checking account, although some tribal lenders are even letting this element of the deal slide. The point is there is very little in the way of credit checking or vetting of their potential customers.
Is US Fast Cash a good company to do business with? Not really. Are they a terrible company or the worst tribal lender out there? No they are not. The problem is US Fast Cash (and their offshoot sites) do not bring anything meaningful or new to the table for their customers.
There is no incentive to use this lender. They offer the same time window (roughly 14 calendar days, ranging up to 21 days) and they charge the exact same interest rate (which is 30% on a rolling bi-weekly basis, usually charged every other Friday) that over 100 other Native American lenders charge.
Personally, I like to look for a tribal lender that has a little lower of an interest rate, like Mobiloans or Plain Green Loans. Or look for a company that has some specialization, like Superior Funding with their low rates that serve government employees or RadiantCash which has a rewards program for returning customers who are in good standing.
US Fast Cash isn't that fast (it usually takes approximately 36 hours for the cash to arrive into your checking account from the time you first contact them) and they do not provide a lot of cash, the tendency is for the initial loan to be between $300 to $500, and for some customers that amount might be even smaller. Overall, I'm just not very impressed with the firm.
The wrap is we have found some new information, which is that US Fast Cash has some "sibling" companies that are performing the exact same style loans, but in the end that's not very important because all the loan products from these firms are just boring and not too useful.
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