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LAST UPDATED: April 18th, 2023

ChoiceCash is a service provided under the LoanMart umbrella of financial technology solutions. LoanMart is responsible for helping connect individuals and businesses with non-traditional lending services. In response to helping people identify these alternative lending practices, LoanMart created ChoiceCash which allows clients to quickly access funds when financial emergencies strike.

ChoiceCash specializes in car funding. These loan requests are often quickly approved and verified. Loans approved through ChoiceCash are to be paid back by the borrower. 

While LoanMart has been around since 2001, ChoiceCash was launched in 2019 helping people with bad credit or in bankruptcy. To date, the service has processed over 1 million loan inquiries for varying amounts. The flexible requirements offered through ChoiceCash make it possible for millions of clients to get the emergency funding they need when certain financial disasters strike.

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The Good

  • Loan Types
  • Application Process
  • Funding Speed
  • Financial Education

Loan Types

Through ChoiceCash, clients can access a number of different loan products depending on the service or financial assistance needed. These loan categories then incorporate the loan services generally offered through the company. These products break down as follows:

Title loan requirements include:

  • Valid driver’s license
  • Proof of address
  • Qualifying vehicle in owner's name
  • Proof of income
  • Photos of vehicle

Online title loans used for the following:

  • Medical expenses
  • Rent
  • Utilities
  • Daily expenses

Emergency money:

  • Housing
  • Medical bills
  • Legal fees
  • Funeral costs
  • Accumulated debt

Car title loans:

  • Decreased interest rates
  • Fast approval
  • Bad credit accepted

Application Process

The application process through ChoiceCash is quick and easy. It is all completed online or over the telephone, depending on what best suits the client. All required documentation can also be submitted online, making the process simple and straightforward. The process breaks down as follows:

  • Fill out online application or talk to a loan agent directly
  • Submit all required documents and information
  • Receive funding

Other lenders require substantially more documentation and can even drag out the process for days. Those in need of money immediately do not have this kind of time. ChoiceCash recognizes the time aspect and has created a straightforward application process. 

Funding Speed

One of the greatest strengths of the ChoiceCash platform is its ability to fund loans fast. Depending on the client and the circumstances, a majority of loans can be paid out within one single business day. After approval, most clients see the funds in their account the next business day.

Not all lenders offer these types of funding speeds, so clients in need of money quickly will want to consider what ChoiceCash offers to its clients. 

Financial Education

To help clients start to build a more stable and sure financial foundation, ChoiceCash offers a host of online resources and tools. These resources are not only there for educational purposes, but to help clients start to develop positive money habits.

Generally, lenders do not care about clients after the loan is secured and payment is received. ChoiceCash takes the extra step to help clients with their future financial success by providing financial education tools. 


The Bad

  • Loan Based on Availability
  • Undisclosed Associated Costs

Loan Based on Availability

Despite offering loan services in over twenty states across the United States, not all ChoiceCash products are available to all clients. Those interested in ChoiceCash for lending services will have to first determine whether or not the loan type desired is even offered in their state of residence. 

Many lenders offer national services, covering more states than ChoiceCash does. Additionally, these providers do not restrict products based on the state that a customer lives in. Unfortunately, ChoiceCash cannot replicate this level of availability.  

Undisclosed Associated Costs

As is the case with any loan, the financial institution needs to make money off of the transaction. There are generally two different ways that personal loan providers do this. These companies will charge a flat rate for the service or a percentage of the overall loan. These charges will vary by the loan provider and depending on the loan amount needed, could be a good deal for both the client and the lender.

Unfortunately for ChoiceCash clients, it is unclear how customers are charged and what the going rates for ChoiceCash products cost in the long run. This makes it difficult for prospective customers to budget and plan for related costs of the service. Most lenders to at least disclose the type of pricing charged for its services, but ChoiceCash does not. 


The Bottom Line

ChoiceCash provides a valuable service to those in need of financial assistance but may not qualify through other means. There are a number of loan products available through ChoiceCash. These services all into the following loan categories: title loans, online title loans, emergency funding, and car title loans.

The application process through ChoiceCash is simple and straightforward with minimal information needed. Once that application is complete and baseline requirements are met, the funding process begins which is relatively fast. Some clients receive cash in as little as one day. Finally, to help clients build a better financial future, ChoiceCash offers a number of financial tools and resources for educational purposes. 

While there are a number of reasons to consider ChoiceCash for personal loan type needs, there are limitations to the platform prospective customers should be aware of. The availability of certain products will depend on the location of the client. Not all products are available in all serviced states.

Additionally, it is unclear how much ChoiceCash services will end up costing clients. While there are minimal requirements that need to be met to qualify, that generally comes at a price on the back end.

Those that are in a financial pinch could find relief through the services offered through ChoiceCash. However, those with higher than average credit scores may want to look elsewhere for financial assistance.

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