Payday Loans in Fort Lauderdale, Florida
Incidents happen, and we usually find ourselves in a spot where we have to cover some unforeseen costs. Consider submitting an application for a paycheck advance loan in Fort Lauderdale, FL, to see if you meet the requirements.
The loan application process is quick and painless. To be eligible, loan borrowers must satisfy a couple of general criteria.
What is a Payday Loan? What Can It Pay For?
A payday advance loan is where the borrower will receive a small sum of money on a short-term agreement. This is considered an unsecured personal loan because no collateral is required.
When unforeseen expenses present themselves, such as missed rent or utility costs, auto fees, medical or vet payments, and so on, individuals commonly seek out paycheck advance loans.
Paycheck Advance Loan Requirements In Fort Lauderdale, Florida
In Fort Lauderdale, Florida, payday loan borrowers are required to satisfy several requirements to qualify for a loan.
The borrower is required to:
- Provide proof that they reside in Fort Lauderdale, FL
- Must be at least 18
- Receive a steady income that they can provide proof of being at least $1,000/month
- Provide active contact information such as cell phone number and email address
- Provide their social security number
If a borrower does not meet the above requirements, they will immediately be denied a paycheck advance loan. Ensure that you can provide the documents required when submitting your application.
Laws and Rules Regarding Paycheck Advance Loans in Fort Lauderdale, FL
Florida has ruled payday advance lending legal. However, they have put forth the below rules and regulations for the payday lending market:
- A single money lender can't extend a loan greater than $600. Borrowers may not possess greater than two unpaid loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In Florida, borrowers are unable to rollover their loans.
- The fees and charges are different for each lender. The service fees enacted by the lender on a payday loan do not fall under interest. The service fees apply to every $100 borrowed and can range between 11-15%.
- An interest rate is required to be mutually agreed upon. APR can be as much as 369%.
Will Cash Advance Lenders in Fort Lauderdale, FL, Run Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we have a relationship with will perform a credit check on you, still, even if you possess no credit or less than stellar credit, you might still be eligible for a loan given that you can prove that you are able to repay the loan. Lenders are generally unbothered by your credit if you provide proof of income and a strategy to pay back the loan.
Lenders will rely on a soft credit pull, which will not impact your credit score. This is solely to get a feel of your credit history and general information.
A hard credit check, alternatively, must have your permission. These credit pulls are used for various purposes, including mortgages, credit cards, and more.
You might still be approved for a paycheck advance loan with poor credit in Fort Lauderdale, Florida, if you have proof of repayment.
So, when you apply for a loan, whether it is in person or online, make sure that you have your income information available and any other documents proving that you can repay the loan. The more proof you provide, the better chance your loan request will be granted.
When Will I See My Loan in Fort Lauderdale, FL?
When you receive your deposit really relies on your lender as some lenders advertise same-day cash advance loans, which means you will see your cash advance loan on the same day you apply, as long as you receive an approval.
Much of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not see your funds until Monday.
If you're needing a same-day payday loan in Fort Lauderdale, FL, you will need to make sure you're applying by 10:30 am. Any and all same-day payments going out that day will be approved by that time. However, you should request a loan earlier than that if able, as it will increase the likelihood that you see your deposit on the same day that you apply.
One additional factor that you should understand is even if the money lender approves your application and posts the deposit to your bank account, occasionally the bank won't release that deposit immediately. It's important to let your bank know that you plan to receive a payday loan, so they might make an exception in releasing the cash earlier.
Overall, it's wise to prepare ahead of time to get your funds on the next business day. That way, you're not left in the lurch if you cannot receive it on the same day.
Consider Working With Us
If you possess underwhelming credit or no credit and are searching to get a payday loan, consider applying with us, as you most likely have a better chance of approval.
We work with over one hundred different lenders who provide their services online. Most of the time you will receive your funds on the following business day so ensure that you plan appropriately.
Although, you can always locate the closest cash advance loan store to you and apply in person to increase the chances of getting your loan on the same business day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may require proof of address, so bring a utility bill to the store too.
To locate the nearest payday loan store, please refer to the list below and locate your city.
Payday Loan Direct Lender Companies in Fort Lauderdale, FL
Below you will find a list of payday loan companies offering their services in Fort Lauderdale, Florida. If you can't find a lender near your location in Fort Lauderdale, consider applying in a nearby city in Florida. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Fort Lauderdale, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.