FAQ Cash Xpress

The first 3 months of employment are typically considered a probationary period, during which job stability may not be guaranteed. Requiring 6 months of employment helps us make responsible lending decisions and protects both our clients and our business from financial risk.

To be eligible for a loan with us, you must have at least 6 months of continuous employment with your current employer. This helps ensure that applicants have passed any probationary period and demonstrate a stable income history.

Kindly note that our standard maximum for first-time borrowers is CI$500.00.However, we pride ourselves on maintaining a flexible and client-focused approach. Depending on eligibility and the specific circumstances, we are sometimes able to consider exceptions on a case-by-case basis.

If you miss a payment, please contact us immediately to discuss your options. Late fees may apply, and missed payments can affect your credit history with us and depending on the extent of the missed payment(s) may result in further escalation. It’s important to keep us informed and make arrangements if you're unable to make a payment on time.

Yes, you can repay your loan early without any penalties. In fact, early repayment may even save you money on interest. Please contact us if you wish to make early repayment or need more information

Yes, we offer same-day processing for an additional fee of CI$20. To qualify for same-day processing, all required documents must be received in ample time for a thorough review. Please ensure that your application and documents are submitted promptly to take advantage of this service.

The processing time is typically 1-3 business days once all required documents are received. If additional documentation is needed, this may extend the processing time.

Once your application is approved, funds can be disbursed within 24-48 hours. Some cases may take longer depending on verification requirements.

To qualify for a loan with Cash Xpress, your work permit should have at least 6 months to 1 year of validity remaining at the time of your application. This ensures sufficient time for manageable repayments within the terms of your current employment. If your permit is nearing expiry, we recommend renewing it prior to applying.

The minimum loan term for a loan at Cash Xpress is one (1) week.

Cash Xpress charges an interest rate of 7.5% per week for payday loans. This rate applies to loans within the limit of CI$100.00 to CI$1,000.00. For civil servants and seniors, there is a discount rate of 5% per week.

Civil servants and seniors receive a discounted interest rate of 5% per week on payday loans from Cash Xpress.

Acceptable collateral for secured loans at Cash Xpress includes vehicles, jewellery, land titles, and other valuable items. These are required to secure the loan and are evaluated based on their value.

The interest rate for secured loans at Cash Xpress is 7.5% weekly. These loans can be repaid in multiple installments, and there are generally no limits on the loan amount, which is determined based on the value of the collateral, income, monthly expenses, and application requests. The minimum amount for these loans is CI$1,000.00.

The maximum amount that can be borrowed through a debt consolidation loan at Cash Xpress is CI$10,000.00.

The requirements for applying for any loan at Cash Xpress include:

1. One in-house photo
2. Completed application form
3. Job letter ( addressed to Cash Xpress) If you are self-employed, a copy of your Trade & Business License, if the License is being renewed, a copy of the renewal receipt, and the last T&B License along with your financial statements. (Please note that once you receive the new T&B license, it is required of you to send a copy to us.)
4. Two most recent payslips (If applicable)
5. Valid ID (driver's license and passport page)
6. Most recent utility bill in your name (to verify proof address) If the utility is not in your name, we require a verification letter from the person's name on the utility bill
   address to Cash Xpress with a copy of their valid I'D
7. Two character references
8. Debit card account details (required for repayment of loan if necessary).
9. Work permit (if applicable)
10. Collateral(applicable)

If the utility bill is not in your name, Cash Xpress requires the following documents to verify your address:

1. A signed letter from your landlord confirming that you reside at the stated address; and

2. A clear copy of your landlord’s valid government-issued photo ID.

Foreign nationals applying for a loan at Cash Xpress need to provide an overseas address in addition to the standard requirements, which include identification, proof of address, job letter, recent payslips, character references, work permit (if applicable), completed application form, debit card information, and collateral (if applicable).

For debt consolidation loans between CI$500.00 and CI$2,000.00, Cash Xpress charges an interest rate of 10% per month.

Generally, there are no specific limits on secured loans provided by Cash Xpress. The loan amount is evaluated based on the value of the collateral, the applicant's income, monthly expenses, and the application request. However, the loan must be over CI$1,000.00.

Secured loans at Cash Xpress can be repaid in multiple installments. The specific repayment schedule is determined based on the loan agreement, but the interest rate is set at 7.5% weekly.

Acceptable forms of identification for loan applications at Cash Express include a driver’s license, voter ID, passport, or any other government-issued ID. Applicants need to provide two forms of identification.