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Welcome to Approved Cash & Quik-Lend Cash

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At Approved Cash Advance Centers, Inc. (Approved Cash) we believe that knowledge is power. In anticipation of regulation changes happening in January of 2012 we have prepared a list of questions we have been receiving from our customers.

We want our customers to be prepared for these changes and encourage you to submit any questions you may have to Payday Changes. If we do not immediately know the answer, we will contact the state and update this FAQ sheet.

  • Will the changes impact how much I am able to borrow?

On January 1, 2012 the maximum check you can write for us (which includes the loan proceeds given to you and our fee) to hold a loan will increase from $400.00 to $500.00.  This means our maximum loan amount will increase from $330.00 to $410.00 for qualifying customers.

  • Will these changes affect how much I owe on each loan?

That depends on how much you borrow.  Currently payday lenders in Mississippi charge $21.95 for every $100.00 borrowed, regardless of the amount borrowed.  Beginning in January the amount owed will either decrease or stay the same. If the amount borrowed causes the face value of the check to be written for less than $250.00, you will only pay $20.00 for every $100.00 borrowed. 

  • I have heard that the amount of time I have to pay back my loan is going to increase, is that true?

Loans where the face value of the check written is for less than $250.00 will be due on your next scheduled pay date, as long as you are paid within the next 30 days.

  • How many payday advances can I have at a time?

You will still be able to have multiple loans with a single payday provider as long as the total face value of checks written does not exceed $500.00.

  • During my last visit your staff required me to take a pamphlet, why?

The changes happening are meant to ensure that there is clear communication between the state, the customer, and the payday lender.  Approved Cash fully supports this type of transparency. The language in this pamphlet was prepared by the state and each licensed payday lender in the state should have this pamphlet available.  As a licensed payday lender, Approved Cash would advise customers in the state of Mississippi to be wary of lenders who do not provide a copy.  If you would like to view this pamphlet please click here.

  • Will I still have the right to rescind my advance if I change my mind?

Yes, customers will have the right to rescind (pay the principal only of the loan to close the transaction), at no cost, on or before the close of the following business day from when the advance contract was entered.

  • I don’t think a PayDay Advance is going to meet my needs, do I have other options?

Approved Cash is more than payday advances.  We are actually your short-term financial needs supercenter!  Stop by any of our Mississippi locations to learn more about our title loan, check cashing, and tax preparation services!

  • Where can I learn more about these upcoming changes?

Please use our Store Locator feature to find your nearest office.  Our employees are knowledgeable and want to help, so please place a quick phone call or stop by any of our Mississippi locations.

Another option is to send your questions to Payday Changes.  Someone from our corporate headquarters will respond within two business days.  If the answer is not immediately known they will follow up with the state of Mississippi for clarification before answering.

   Click here for important information regarding law changes in Mississippi   

If you are a new customer,
Call 877-976-9868 from 10am to 5pm EST to Get Pre-Qualified!

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Getting a Cash Advance is Easy

At Approved Cash Advance, we make it easy to get your cash advance. On your first visit bring in two forms of ID (one must be a photo ID and one must be State or Government issued), your most recent pay stub or proof of income, your most recent 30 day bank statement and your checkbook. You can be in and out in minutes with the cash you need today!

To find your nearest Approved Cash Advance location, simply call 888-CASH-PLUS (888-227-4758) and you’ll be connected directly to your neighborhood payday advance center.  Or, enter your ZIP code into the location finder above for a list of nearby branches.  Your payday loan specialist is ready to help you with all your cash advance needs.

Latest News

August 11, 2011 – 'Cash for Caring' Initiative

Press Release

Approved Cash Advance Launches “Cash for Caring” Initiative

Cleveland, TN (August 10, 2011):  Personal finance company Approved Cash Advance has launched a “Cash for Caring” initiative aimed at strengthening local relationships and giving back to its local communities.

“Cash for Caring” commenced this spring with a corporate donation to the American Cancer Society’s Relay for Life program, followed by support for the Juvenile Diabetes Research Foundation’s “Walk to Cure Diabetes” event.  The “Cash for Caring” program has also supported our nation’s military via foundations for families of the soldiers lost recently in Afghanistan.

Approved Cash Advance has been involved with a variety of charities and causes on a local level, such as breast cancer awareness and toy drives.  The new “Cash for Caring” program aims to benefit local communities on a broader scale.  According to Chief Operating Officer Joshua Davis, short-term lenders like Approved Cash Advance have deep ties to their local communities, as the success of their business depends on personal relationships.  For this reason, Davis says, “We are committed to developing our local relationships and giving back to our community, both on a local and national level.  We want our clientele and the public to know that we see people as more than just customers, we think about them as individuals we know and care about on a personal level.

“Payday lenders get a bad rap because of the comparatively high APRs,” Davis continues.  “But what’s not understood, besides the fact that an annualized percentage rate really doesn’t apply to a two-week or month-long loan, is that we are often the only place where people can get money for immediate needs.  The big banks won’t lend to them because of their credit history, they don’t have credit cards, and their families are tapped out.  But they can come to us and get cash on the spot for a car repair or other emergency, usually for less than what they’d pay in late penalties or overdraft charges.”

Headquartered in Cleveland, Tennessee, Approved Cash Advance operates 195 branch locations throughout Alabama, Louisiana, Michigan, Mississippi, Oklahoma, South Carolina, Tennessee and Virginia.  Once known solely as a provider of payday loans, the company has broadened its portfolio to include title loans, check cashing, tax return preparation, and pre-paid debit cards.  The company was founded in 2004.  For more information, please visit

July 2009 – New Study Shows That Restricting Payday Loans Harms Consumers

In the study The Case Against New Restrictions on Payday Lending, Todd J. Zywicki of George Mason University's Mercatus Center concludes that "Economic theory and empirical evidence strongly suggest that...paternalistic regulations would make consumers worse off, stifle competition, and do little to protect consumers from concerns of over indebtedness and high-cost lending."

Click here to see highlights of the study. The full study is also available by clicking here.

April 2009 - Banking Officials Testify that APR is Not a Good Measure of Short-Term Credit

Bank and Credit Union Officials: APR is not a good measure of short-term credit

A March 19, 2009 hearing in the U.S. House of Representatives, Committee on Financial Services, Subcommittee on Financial Institutions and Consumer Credit, addressed legislation requiring banks and credit unions to calculate overdraft protection fees as an annual percentage rate (APR) under the Truth in Lending Act (TILA). Bank and credit union officials testified that APR was not an accurate measurement of short-term credit.

Click here to read excerpts from the testimonies of bank and credit union officials on the subject of using APR to measure short-term credit