While many services offer short-term loans, in this B3CashSolutions.com review, we’ll cover the variety of loan products offered by this up-and-coming company, including bad credit loans and flexible payment plans.
No matter your financial situation, it’s not uncommon for individuals to find themselves in need of a little extra cash from time to time for unexpected expenses. Even with the best budget and spending habits, having access to easy and quick financing options when you need them can help keep you on track no matter what life throws your way.
Read on for more information on how this company works and what they can do for you. We’ll cover all of the details that you need to know to make an informed decision and answer all of your questions.
Table of Contents
- General Information About B3CashSolutions.com
- The Pros Of B3CashSolutions.com
- The Cons Of B3CashSolutions.com
- Overall Reputation and Reviews For B3CashSolutions.com
- Q&A For B3CashSolutions.com
- Who Might Find B3CashSolutions.com Services Useful?
- Is There a Smarter Way to Use Short-Term Loans?
- Are There Prepayment Penalties?
- Which States Does B3CashSolutions.com Operate in?
- Can I Get a B3CashSolutions.com Loan if I Live in Another State?
- Which Type of Loans Does B3CashSolutions.com Offer?
- How Do I Qualify for B3CashSolutions.com Loans, and Do They Require a Credit Check?
- How Much Does B3CashSolutions.com Cost?
General Information About B3CashSolutions.com
B3CashSolutions.com is a Texas-based company founded in 2013 that offers various types of loans, including title loans and payday loans. You can find all of their loan products online and apply using their quick application process, but the company warns that their loans should function as short-term financing in a pinch and not a consistent long-term financing method.
B3CashSolutions currently has a total of 31 locations in Texas, including:
- El Paso
B3CashSolutions also offers installment loans and bad credit loans. They’re willing to work with individuals with bad credit and work with your pay schedule to make repaying your loan easier. Although this company is not as well known as other businesses that provide the same services, its popularity has grown over the last several years.
The Pros Of B3CashSolutions.com
Our B3CashSolutions.com comparison would be incomplete if we didn’t cover the pros and cons of the services this company provides. B3CashSolutions.com offers a limited number of loan products, but the pros of using their services include:
- Only requires basic details to get started on the application process
- Bad credit loans available
- Same-day title loans
- Flexible installment loans
Let’s look a little deeper into each positive point and see how they work and what benefit they provide to consumers.
Requires Basic Details for Application Process
The initial application process through B3CashSolutions.com only requires some basic information from the applicant. Starting with your name, email address, phone number, and zip code, you can submit an application that will jumpstart your loan process.
After you submit that initial personal information, you’ll need to submit other documents to secure your loans, such as proof of residency, proof of income, a personal check, and government ID. You’ll also need to provide a copy of your Social Security card and, depending on the loan type, you may also need to add a copy of your car title without any lien present.
These details help B3CashSolutions.com review essential facts about how risky it is to issue you a loan. During their data collection process they may uncover other accounts labeled with your name and other facts about your financial history that can impact the loan terms they offer you.
Bad Credit Loans Available
B3CashSolutions.com offers loans to individuals regardless of their credit score. For those with low credit scores getting a loan from a bank poses challenges, if it’s even possible at all.
B3CashSolutions.com provides funds to these individuals within 24 hours of receiving a completed loan agreement, although the terms may include different interest rates than other loan types.
Same-Day Title Loans
The title loans offered by B3CashSolutions.com aren’t just fast; they come in loan amounts up to $20,000. If you own your car, you can borrow against its current value and get the funds the same day for financial emergencies. The loan amount you qualify for may vary based on the vehicle that you use as collateral.
Flexible Installment Loans
A B3CashSolutions.com comparison of loan products would be incomplete if we didn’t mention their installment loans with flexible payment schedules. You’ll still pay all the exact fees and interest, but you can make payments on a predetermined schedule.
With this type of loan, you can get up to $3000 in under 24 hours, but you must have access to a phone, three months of employment history, an active checking account, and an income of at least $1500 each month.
If you plan to apply in one of B3CashSolutions.com’s stores, you will also need a payroll stub, Texas ID, a personal check, and your most recent bank statement.
The Cons Of B3CashSolutions.com
To give a reasonable idea of the company that you’re dealing with, as part of our B3CashSolutions.com review, we want to touch on a few cons. Some consumer reviews have noted specific downsides to using this service, including:
- High lender interest rates
- Fees vary based on the type of loan secured
- Predatory loan products with exorbitant fees
- Specializes in predatory loan products
Let’s examine these points with a bit more depth and address crucial concerns raised by many consumers.
High Lender Interest Rates
B3CashSolutions.com charges high-interest rates that typically range from 208% to over 760%, depending on the type of loan and the length of time that it takes to repay the balance.
High-interest rates aren’t uncommon for these types of loans, which is why they should be a last resort in an emergency and not a long-term financial strategy.
Varying Fees Based on Loan Type Secured
Some of the fees for B3CashSolutions.com loans exist for all of their loan types, including a non-sufficient funds fee of $30 and a late fee that is 5% of the missed payment, or $7.50, whichever ends up being greater.
Other fees, such as the Credit Access Business (CAB) fee, range from $25 for every $100 borrowed to $266 for every $100 borrowed. There is also additional lender interest to consider that amounts to 10% APR calculated on the principal of the loan.
Predatory Loan Products with Exorbitant Fees
These types of loan products come with extremely high-interest rates and fees as their target audience is individuals who are desperate for cash and have few other alternatives. A good example is a payday loan where you’ll receive $200 but end up paying a $50 Credit Access Business fee and an additional 10% interest fee for a loan that is due in 14 days.
Other loans have much higher CAB fees, around $266 for every $100 borrowed with additional interest. According to B3CashSolutions.com fee schedules, a $200 payday loan paid in 168 days will cost you a total of $739.07.
The Company Specializes in Predatory Loan Products
B3CashSolutions.com doesn’t offer other loan products with competitive market interest rates similar to what you can expect from a reputable bank. All of their loan products tend to impose unfairly high-interest rates and fees on borrowers who are desperate for cash. These high fees and interest rates are just one characteristic of predatory lending.
These loans don’t always match credit-worthy borrowers with an appropriately credit-rated loan. That means that even if you have good credit, you’re unlikely to get a loan offer from B3CashSolutions.com that reflects your standing.
Overall Reputation and Reviews For B3CashSolutions.com
B3CashSolutions.com ratings online are somewhat sparse and questionable since many of the reviews include multiple posts from individuals with the same name. Furthermore, there are no reviews from reputable businesses in the finance industry backing this company as a wise financial alternative to traditional loans.
The Better Business Bureau lists this company as “Not Rated,” and many of the reviews on Facebook, Yelp, and Google Reviews include only a star rating without any written text, details, or way to verify the validity of the review.
Q&A For B3CashSolutions.com
When it comes to getting cash fast using short-term loans, some frequent questions appear, and we’re here to shed some light on these concerns.
Who Might Find B3CashSolutions.com Services Useful?
If you find yourself short on cash in an emergency or in another situation where you absolutely need money quickly and have no other alternatives, using the short-term loans offered by B3CashSolutions.com is an option to explore.
Is There a Smarter Way to Use Short-Term Loans?
If you must use short-term loans like the ones offered by B3CashSolutions.com, make sure you read over the complete terms and conditions document so that you understand exactly how the loan works in advance.
This document is not available on their website, but you can also review their fee schedules and see how you feel about the high interest rates and fees to factor in if you can manage to make a loan work given your current finances. If possible, plan to pay off the loan as soon as you are able, even before the due date.
Are There Prepayment Penalties?
No, B3CashSolutions.com does not charge prepayment penalties on their loans and suggests that customers pay off their loans early.
Which States Does B3CashSolutions.com Operate in?
B3CashSolutions.com operates in Texas and has 31 different store locations spread across the state. They also have an online site where consumers can apply for loan products and access their accounts at any time.
Can I Get a B3CashSolutions.com Loan if I Live in Another State?
B3CashSolutions.com operates in Texas, but they can arrange a loan with a third-party lender in another state. The fees, interest rates, and loan amounts will vary based on many factors, including the type of loan, your credit history, and the repayment period.
Which Type of Loans Does B3CashSolutions.com Offer?
B3CashSolutions.com offers several different loan products, and all of their loans function as short-term sources of financing. These loans won’t solve long-term financing issues, but you could use one of these loans in a pinch when you have few other options.
This type of short-term loan gives you funds between paychecks, so you have money for emergencies and unexpected expenses. This type of loan is often helpful for those who live paycheck to paycheck and typically get repaid in full at your next paycheck.
Installment loans through this company allow consumers to get up to $3000 and pay it back using a schedule. This type of loan is helpful if you need to avoid credit card debt, late fees from overdue bills, or other situations that might damage your credit due to lack of funds.
Bad Credit Loans
B3CashSolutions.com also offers loans to people with bad credit, and there’s no minimum credit score listed on their website. If you don’t qualify for bank loans due to a low credit score, this loan option is a possible short-term solution but may come with higher fees and interest to compensate for the additional risk.
If you own your car, you could use this type of loan to get up to $20,000 from B3CashSolutions.com. You get to keep your vehicle and receive the cash the same day; however, the car serves as collateral for this loan and may involve a third-party lender.
How Do I Qualify for B3CashSolutions.com Loans, and Do They Require a Credit Check?
The loan requirements for B3CashSolutions.com include standard forms of identification, including a government-issued ID and Social Security card. To complete this process, you’ll also need documents showing proof of residence and proof of income.
These documents can get uploaded online when you start your application, but some loans require additional documentation. For payday loans, you’ll also need to include a picture or scan of a personal check, and title loans require that you also provide a car title that is currently free from liens.
The company insists that the application is straightforward and requires only essential details to get you approved in as little as ten minutes. Once you’ve uploaded all of your documentation and get approval, you can have your money in 24-hours or less.
B3CashSolutions.com uses an “alternative credit scoring agency” for their loans, but for higher risk loans, a higher interest rate and different fees get assessed to compensate for that additional risk.
B3CashSolutions.com notes that not all customers qualify for loans or the maximum loan amounts listed on their website even without traditional credit checks. Each loan still undergoes standard underwriting criteria according to all applicable laws.
One thing to note is that you will provide banking information to B3CashSolutions.com, which they use during the application process and for payment processing. As the company collects data about applicants, they note any additional bank accounts held by the consumer and include them as part of the application and contract process.
How Much Does B3CashSolutions.com Cost?
The costs associated with B3CashSolutions.com vary depending on the loan product and repayment window that you choose. In general, you can expect to pay interest rates that range from 208% to 765%, and there are late fees and additional fees for insufficient funds.
These loan products come with incredibly high fees due to the loan’s short-term nature, and the loan amounts also vary based on the type of loan you need. Loan lengths range from 14 to 168 days, and some offer bi-weekly payment options, but all of these come with higher annual interest rates, around 764%.
On the whole, you’ll end up paying more towards fees and interest than the total amount of the loan that you secure for your financial needs. It’s also a good idea to read the loan terms very carefully as B3CashSolutions.com may extract money from other bank accounts associated with your name or sell your debt to a collection agency should you fail to make payments.
Despite some positive reviews online, there’s no question that B3CashSolutions.com offers loan products that come with extremely high-interest rates and fees. Their customer service generally has a good reputation, and they offer funds with an easy application process and a surprisingly quick turnaround.
However, it’s worth noting that some of their practices are less than transparent, such as their use of an “alternative credit scoring agency” and the lack of vital information like an example loan agreement on their website for consumers to look over in advance.
Some of the terms of their loan products routinely get glossed over on their website, such as how you might lose your vehicle if you fail to pay back a title loan, or that the terms of your loan may allow them to remove money from other bank accounts that have your name on them.
Before agreeing to a loan from B3CashSolutions.com, it’s best to make sure that you read and understand all of the loan terms and do the math to ensure you can complete the payments.