Frequently Asked Questions
Answers to what we get asked most about payday, unsecured and secured installment loans in Missouri.
If your question is not here, call your nearest branch and someone will talk it through with you.
How much can I borrow?
Payday loans are $50 to $500. Unsecured installment loans are $500 to $800. Secured installment loans are $100 to $10,000.
What do I need to apply?
A regular source of income, an active checking account and a working phone. Bring your driver's licence or government photo ID, your most recent pay stub, your most recent bank statement and proof of your current address.
Can I apply online?
Yes, for payday and unsecured installment loans, anywhere in Missouri. Once approved, funds are sent to your debit card. Secured installment loans always need a visit to a branch so the vehicle can be appraised.
How long does a decision take?
About 15 minutes in-branch, if you bring everything you need. A little longer for a secured installment loan, since we need to appraise the vehicle.
When is a payday loan due?
In full on your next payday, after a minimum term of fourteen days.
Can I pay off early?
Yes. Interest is calculated daily on a payday loan and there is no early repayment penalty.
How many times can I renew a payday loan?
Up to twice, depending on your pay cycle. Missouri law allows up to six renewals, but FLEXIcash caps it at two. Before each renewal you reduce the principal by at least five per cent, so the balance comes down every time. Renewal limits apply to payday loans and not to unsecured or secured installment loans.
How does an unsecured installment loan differ?
It is repaid in equal payments across a term rather than in one go, timed either fortnightly or monthly to your paydays. The final payment may differ slightly. It also requires direct deposit.
Do I keep my vehicle with a secured installment loan?
Yes. You hand over the title, not the vehicle.
What vehicles can I borrow against?
Cars, trucks, boats, ATVs, RVs, campers and trailers, provided the title is clean and clear.
What happens if I miss a payment?
A late payment fifteen or more days late carries a fee of 5% of the delinquent payment or $15, whichever is greater, capped at $50. A returned or dishonoured item carries a $25 fee, and no more than one such fee is charged per installment.
Do you check my credit?
No credit required to apply.
Who regulates FLEXIcash?
The Missouri Division of Finance, P.O. Box 716, Jefferson City, MO 65102-0716, (573) 751-3463.
Where are your branches?
Cuba, Desloge, Moberly and O'Fallon. Addresses, phone numbers and opening hours are on the Find a Branch page.
