Rates and Fees

Missouri Installment Loans

View Missouri License Here

Installment loans charge daily interest (simple interest method) unlike payday loans where you are charged a "flat fee" for the loan. Think of an installment loan similar to a car loan in the sense that the quicker and more frequently you pay, the less interest you will have paid on that loan. The difference is we do not secure collateral to make a loan to you other than verified facts based upon your application you submitted.

How much money can I borrow in Missouri?

As a resident of Missouri, you can qualify for up to $1,500 with a simple interest installment loan online with Solutions By Cash. Your unique circumstance such as your current income, employment, and other basic factors will be considered to determine your qualified loan amount. Any new borrowers of Solutions By Cash, will be subject to our first time max loan amount of $600. All current customers who have paid according to their agreement may be eligible for a larger loan amount.

How much will my loan cost?

This is a great question to ask so you can be in control of your financial decisions. If your circumstances require that you take out an installment loan, the most efficient way to save money is to pay the loan off quickly. Reality of life happens to us so it is best to understand how your loan works. Your APR and repayment will vary depending on several factors like dollar amount, length of your loan, and repayment frequency. APR range for a $300-$1500 is 420%-780%.

Example Missouri Loan:

Loan Amount: $300
Term: 12 months
APR: 660%
Payment: $76.37 (Bi-Weekly repayments)


Number of Payments

Payment Amount

Payment Due Date

1

$76.37

1/3/14

2

$76.37

1/17/14

3

$76.37

1/31/14

4

$76.37

2/14/14

5

$76.37

2/28/14

6

$76.37

3/14/14

7

$76.37

3/28/14

8

$76.37

4/11/14

9

$76.37

4/25/14

10

$76.37

5/9/14

11

$76.37

5/23/14

12

$76.37

6/6/14

13

$76.37

6/20/14

14

$76.37

7/4/14

15

$76.37

7/18/14

16

$76.37

8/1/14

17

$76.37

8/15/14

18

$76.37

8/29/14

19

$76.37

9/12/14

20

$76.37

9/26/14

21

$76.37

10/10/14

22

$76.37

10/24/14

23

$76.37

11/7/14

24

$76.37

11/21/14

25

$76.37

12/5/14

26

$76.37

12/19/14

 

*ANNUAL PERCENTAGE RATE: APR (Annual Percentage Rate) the APR is the total cost of your loan expressed as an annual rate. The above APR’s are based on the example loan terms of payment due bi-weekly (26 repayments) over 12 months. The APR will increase if the actual loan term is shorter than the examples given and will decrease if the term is longer. Term minimums and maximums are determined by applicable state law.

Solutions By Cash loan agreements are governed by the State of Missouri.

Missouri Division of Finance
PO Box 716
Jefferson City, MO 65102-0716
(573) 751-3463

When will my Solutions By Cash loan be due?

Making the loan process easy and friendly is one of our goals at Solutions By Cash. You have the option of choosing between 4 months or 12 months to repay your installment loan. We base your payments on how frequently you are paid such as bi-weekly or semi-monthly.

Is extending my loan an option?

Unlike payday loans, there isn't an "extension" available. We provide you a longer payback period which in return helps you budget for your finances easier. You're in control of how you repay.

Late Payments

Late payments of your loan may result in additional fees or collection activities, or both. Please review your loan agreement for further information.

How do I qualify for a Loan?

To be considered for a Solutions By Cash installment loan, you must provide:

  • U.S. Citizen
  • Valid Driver’s license or State issued ID.
  • Social Security Number is verifiable
  • Home or mobile phone is valid
  • Debit card in your name (Visa or Mastercard linked to your checking account)
  • Actively using a checking account in good standings for more than 90 days
  • Employed working "full time" which is considered more than 36 hours per week
  • Proof of your income
  • Not active Military