Cash for Whatever Loans: A Complete Guide

When an unexpected expense pops up, getting quick access to cash can feel impossible. Especially if your credit is less than perfect. Traditional bank loans require pristine credit, plenty of paperwork, and waiting weeks for an answer. When you need money now, these aren’t ideal options.

This is where alternative online lenders like Cash for Whatever come in. Cash for Whatever offers a new approach to borrowing money with quick and easy online personal loans But what exactly are “cash for whatever” loans, and are they right for your situation?

In this complete guide, we’ll cover everything you need to know about Cash for Whatever loans. Read on to learn if these fast cash advances are the solution when you need money ASAP.

What is Cash for Whatever?

Cash for Whatever is an online lending company that provides fast loans ranging from $200 up to $5000. They market themselves as “cash for whatever” because borrowers can use the money for any purpose.

With Cash for Whatever, you simply go online, provide some basic personal details, and receive a lending decision in minutes. If approved, you get the cash deposited directly into your bank account as soon as the next business day

Cash for Whatever loans are unsecured personal loans. This means they are not backed by any collateral. So you don’t have to put up your car, home, or other assets to get approved. The lender bases their decision on factors like your income, credit history, and current debt obligations.

The company currently operates in Texas, Wisconsin, Utah, and Missouri. They claim to offer a fast, easy borrowing experience for those who need access to cash quickly.

Cash for Whatever Loan Features

Cash for Whatever loans come with the following key features:

Loan amounts: Borrow between $200 and $5,000. The specific amount depends on your approval.

Terms: Loan terms range from 2 weeks up to 24 months. Choose a repayment timeline that fits your budget.

Interest rates: Expect higher interest rates from 6.63% up to 225% APR compared to alternatives like credit cards or personal bank loans.

Fees: Fees vary but may include origination fees from 1-5% deducted from your loan amount. Expect no prepayment penalties.

Credit requirements: Cash for Whatever states they look beyond your credit score alone when approving loans. However, good credit in the 600s or higher will increase approval odds.

Funding speed: If approved, expect funds as soon as the next business day after accepting your loan agreement.

Usage: “Cash for whatever” means no restrictions on how to spend your loan funds.

Repayment: The loan amount and fees are paid back in fixed monthly installments until your balance reaches $0.

Cash for Whatever Loan Pros and Cons

Cash for Whatever loans provide fast cash when you need it, but are they the right option for you? Here are some key pros and cons to weigh:

Pros

• Fast online applications take less than 10 minutes
• Receive instant loan decisions without waiting
• Bad credit is OK with flexible minimum requirements
• Funds as soon as the next business day
• No collateral required
• Use the cash however you want, no restrictions
• Fixed payments are predictable and easy to budget

Cons

• High APRs substantially increase your total repayment costs
• Short 2 or 4 week terms can create debt cycles and penalties
• Only available in 4 states currently
• Max loan amount is $5,000
• Late fees quickly accumulate if you miss payments
• Must repay in full – no partial payments allowed

As you can see, the convenience and speed come at a cost. Make sure you understand the repayment terms and can afford the monthly payments before borrowing.

What Credit Score is Needed?

Cash for Whatever does not publish any official minimum credit score requirements. They state that each application is reviewed in a custom manner looking at your full financial profile.

However, a credit score in the 600s or higher will give you the best chance for approval. Some lenders may approve scores in the 500s based on other positive factors. But the lower your credit score, the higher interest rate you can expect to pay.

Before applying, get a free copy of your credit reports from AnnualCreditReport.com. Check for any errors dragging down your score. Pay down balances and resolve mistakes to boost your credit prior to applying.

How to Qualify for a Cash for Whatever Loan

While each lender has their own approval criteria, you generally need:

• Good credit – Aim for a score of 600+ but some accept 500s
• Sufficient income – Regular income from a job, benefits, retirement, etc.
• Valid ID – A driver’s license, passport, or state-issued ID
• Active checking account – Required to receive the deposit
• Phone number and email – For communicating regarding your application
• Not active military – Cash for Whatever does not lend to active duty service members

Meeting these requirements gives you the best shot at qualifying for one of these online cash advances. Cash for Whatever partners with multiple lenders to increase your chances.

How to Apply for Cash for Whatever Loans

Applying for a Cash for Whatever loan takes just minutes online:

1. Go to their website CashforWhatever.com

2. Click “Get Started” or “Apply Now”

3. Enter some basic personal information including your name, contact info, income source, requested amount, etc.

4. Review loan offers from matched lenders

5. If you accept an offer, provide more details to submit the full application

6. E-sign loan agreement if approved

7. Lender deposits the money directly into your account

The lender will verify details like your income, ID, and banking information. As long as everything checks out, you can get approved in minutes.

What Can You Use Cash for Whatever Loans For?

Cash for Whatever loans are unrestricted personal loans. Borrowers can use the money for any legal purpose including:

• Credit card consolidation
• Medical bills
• Car repairs
• Moving expenses
• Home improvements
• Emergency costs
• Vacations
• Gifts
• And more!

The flexibility makes these cash advances popular when unexpected costs pop up. The lender sends your loan as cash, so feel free to spend it however you need.

Should You Get a Cash for Whatever Loan?

Cash for Whatever loans provide a quick influx of cash when you have nowhere else to turn. For those with damaged credit or in a financial bind, they can be a lifeline in an emergency.

However, it’s critical to consider both the rewards and risks before moving forward:

• Only borrow if you can realistically repay the full amount on time. Missing payments leads to spiraling fees.

• Be sure to account for the high interest rates in your budget. Compare costs to alternatives like credit cards.

• Avoid payday-style loans with 2 or 4 week terms that can trap you in debt cycles. Opt for longer 6, 12, or 24 month installment loans.

• Have a plan to pay off the balance so it doesn’t hang over your head. Only borrow what you absolutely require.

Used selectively in the right circumstances, Cash for Whatever loans can provide much-needed cash access. Just ensure you evaluate both the pros and cons before applying.

Cash for Whatever Loan Alternatives

If Cash for Whatever loans don’t seem like the right fit, here are a few alternatives to consider:

Personal loans from banks or credit unions – Higher approval requirements but with much lower interest rates.

Credit cards – Revolving credit lines are more flexible but have high long-term costs.

Payday alternative loans – Offered by some credit unions and come with consumer protections.

Payment plans – For medical bills, many providers offer interest-free installment plans.

Borrowing from family/friends – Interest and fee-free but can strain relationships.

401k or pension loans – Borrow against your own savings while paying yourself interest.

Crowdfunding – Sites like GoFundMe where you request donations from your network.

Depending on your circumstances, one of these options may be a better solution than high-cost online cash advances. Shop around and compare choices to make the optimal borrowing decision.

The Bottom Line on Cash for Whatever

When an unexpected expense arises and you need money immediately, Cash for Whatever offers a fast and convenient borrowing experience. In minutes, you can complete an application, get matched with a lender, and if approved have funds as soon as tomorrow.

This speed and access comes at a steep price, however, with interest rates from 6.63% to 225% APR. Ensure you have a firm repayment plan and budget before moving forward. Only borrow what you can afford to pay back on the strict scheduled terms.

Used carefully, Cash for Whatever loans can provide critical cash in a crunch. But like any high-cost financing, you must approach them with your eyes wide open. Follow the tips in this guide to make a smart decision that won’t leave you in worse financial shape.