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Secured
Secured loans provided by Cash Xpress offer a flexible repayment option, allowing borrowers to repay the loan amount in multiple installments. These loans are secured against collateral, which could include assets like vehicles, jewelry, land titles, or other valuable possessions..
Explore Secured Loan.
At Cash Xpress, the interest rate for secured loans is set at 7.5% on a weekly basis. This transparent fee structure ensures clarity for borrowers regarding the costs associated with the loan. Unlike some other types of loans, secured loans from Cash Xpress typically do not have strict borrowing limits.
Instead, the loan amount is determined based on various factors, including the value of the collateral, the borrower's income, monthly expenses, and specific application requirements. However, secured loans must be over CI$1,000.00 to be eligible for consideration.
Secured Loan Eligibility Criteria
- One in-house photo
- Completed application form
- 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.)
- Two most recent payslips (If applicable)
- Valid ID (driver's license and passport page)
- 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 - Two character references
- Debit card account details (required for repayment of loan if necessary).
- Work permit (if applicable)
- Collateral
Frequently asked
General questions
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.
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.
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
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.
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.
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, 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.
Once your application is approved, funds can be disbursed within 24-48 hours. Some cases may take longer depending on verification requirements.
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