Online Payday Loans in Florida
We've all found ourselves there a couple of times, where some unforeseen bill occurs be it vet fees, utility shutoff notices, or maybe an expense that we missed. In these moments, you should request a payday loan in Florida.
The application process for a cash advance loan is fast and easy. Nevertheless, you do need to satisfy specific requirements to make sure you're approved.
What Exactly is a Cash Advance Loan And Why Is It Needed?
A cash advance loan is when an individual borrows a small amount of cash on a short-term basis that they're contracted to pay back with their next paycheck. This kind of loan requires no collateral, therefore it's considered an unsecured loan.
Being able to obtain a payday advance loan will help pay for emergency expenses that occur such as auto fees, health fees, eviction notices, unpaid utility costs, and plenty more.
What Are The Criteria For Payday Advance Loans in the State of Florida?
To be able to get a payday advance loan in Florida there are some criteria the borrower needs to satisfy in order to qualify, for example:
- Be an adult of 18 or over
- Possess the ability to provide a social security number
- Provide proof of being a resident of Florida
- Submit proof of a steady income of at least $1,000 per month
- Provide an email address and phone number
- You cannot be bankrupt or in debt
The failure to satisfy the standards above will result in an automatic denial of your loan application. Always check that you possess the necessary documents on hand when applying.
Payday Advance Loan Rules and Laws in the State of Florida
With cash advance loans come specific rules and regulations particular to the city. We've detailed a couple of these, pertaining to the state of Florida:
- The largest loan amount is $500 for a single payment back and $1,000 for multiple installments
- APR is 304%
- The state of Florida does not agree to rollovers due to this the loans must be repaid within the due time frame
There are separate time frames for one-time payment loans and multiple installment loans.
- The borrower has seven days to pay back a single-payment loan
- For multiple installment loans, the borrower has 60 days to pay it back
- The borrower will receive no more than 31 days to repay a single-payment loan
- 90 days will be given to the borrower for payback on a multiple installment loan
Do Payday Loan Lenders Review Credit?
Lenders will perform a credit inquiry, but it's not the standard credit check you may be thinking of. They will perform what's known as a soft credit inquiry which looks into your basic details along with your complete credit history.
The soft credit pull won't affect your credit, whereas a hard credit check will. However, this requires your permission and is commonly only used for rental applications, credit cards, car loans, and more.
Can I Receive a Payday Advance Loan with Bad Credit in Florida?
If you're hesitant due to the fact that you have bad credit; there's no need! You can still be eligible for a cash advance loan with dismal credit or no credit, in Florida. If you have proof that you can pay the loan back, lenders generally aren't worried about your credit rating.
Irregardless of if you request a loan online or at a payday advance lender store local to you, always have your proof of regular income as well as other documents proving that you're able to repay the loan. With more evidence, you boost the chances of approval.
When Will The Cash Show Up In My Bank Account?
On average, the majority of borrowers should expect that their funds will show up in their account the following business day. Although, this depends on a few things such as:
- When you apply
- Who your bank is
As long as you apply prior to 10:30 AM when you are trying for a same-day payday loan in Florida, it will boost the likelihood that you receive your funds on the same day you apply. Of course, only if you're approved.
Keep in mind that banks, as well as many other businesses, close during the weekends, and on holidays. So, if you apply the day prior to a holiday, or before the weekend, there's a possibility your transfer will be postponed.
Who Do You Bank With?
Something else you'll want to be mindful of is who you bank with. Banks have their own procedures concerning releasing funds. Some may be okay with releasing them the same day while others will rely on a 3 to 5 day holding period.
What you can do is notify your banker that you are applying for a payday advance loan so that they might make an exception on when to approve the funds to your account. If they aren't able to make an exception, you can ask them what their policy is so that you're informed.
Payday Application Process In the State of Florida
The payday advance loan application process in Florida is straightforward. It doesn't rely upon if you have no credit or even lackluster credit, you can still be approved. You don't need to venture out if you want to apply through us online. Alternatively, you can find your nearest lender's storefront.
Either way, whatever you pick, all you must have is your basic information such as your email address, phone number, social security number, etc.
Should you want to go to your nearest lender at their business building, ensure you have your government ID or passport to prove your identity. They might also require verification of address to show you live in Florida, as well as verification of income.
Think About Working With Us
We are an online service that provides payday advance loan applications online in Florida. We are partnering with over a hundred lenders who provide services online. Plan to receive your cash advance by the next business day.
If you would rather, you can always search for the nearest cash advance loan storefront and apply in person. This might increase the likelihood that you get your funds on the same business day provided that you apply prior to 10:30 AM.
To find a cash advance loan storefront local to you, search for your city on the list below:
If you need cash as soon as possible, consider applying in person instead of online. If approved, you will get your money almost immediately. Please find the list of cities in California to find the nearest payday loan storefront.