Geography: United States
Products: Cash Advances, Installment Loans
Launched: 2004
Launched in 2004, CashNetUSA is the flagship brand of Enova Financial and was one of the first short-term lenders to provide cash advances and installment loans to consumers over the Internet.
A cash advance is a small-dollar, short-term loan that is deposited directly into a customer’s existing bank account and is usually repaid upon the customer’s next pay date.
Installment loans are longer-term loans that can often carry a higher loan amount and are repaid gradually over a period of four to five months. CashNetUSA offers installment loans in a limited number of U.S. states.