Payday Loans in Hollywood, Florida
Events happen, and we usually wind up in a spot where we have to pay for some unforeseen costs. Think about applying for a payday advance loan in Hollywood, Florida, to see if you qualify.
The loan request process is swift and straightforward. To be eligible, loan borrowers have to meet a few basic criteria.
What is a Cash Advance Loan? What Can It Be Used For?
A payday loan is where the borrower will get a small sum of cash on a short-term contract. This is deemed to be an unsecured loan as no collateral is needed.
When surprise bills present themselves, for example late rent or utility fees, car costs, medical or vet costs, and so forth, individuals usually rely upon payday advance loans.
Payday Advance Loan Requirements In Hollywood, FL
In Hollywood, Florida, cash advance loan borrowers need to meet a few criteria to be eligible for a loan.
The borrower is required to:
- Prove that they reside in Hollywood, Florida
- Must be 18 years old
- Receive a steady income that they can prove that's at least $1,000 per month
- Give active contact details such as phone number and email address
- Provide their SSN
If a borrower does not abide by the above criteria, they will immediately be denied a payday loan. Make sure you can provide the documentation required when requesting a loan.
Laws and Regulations Concerning Payday Loans in Hollywood, Florida
The State of Florida has deemed payday lending legal. Still, they have enacted the below rules and regulations for the paycheck advance lending market:
- A single money lender can't offer a loan in excess of $600. Borrowers cannot possess more than two active loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the longest loan term length is 31 days. In Florida, borrowers cannot rollover their loans.
- The fees and charges are different for each lender. The service fees charged by lenders on a loan do not fall under interest. The service fees apply to every $100 borrowed and can range from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can be as high as 369%.
Will Payday Lenders in Hollywood, Florida, Run Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, but, even if you have no credit or bad credit, you may still be approved for a loan provided you can prove that you can pay back the loan. Lenders are usually unbothered by your credit history if you possess proof of income and a strategy to repay the loan.
Lenders will use a soft credit check, which will have no impact on your credit score. This is only to get a look at your credit history and general information.
A hard credit pull, alternatively, needs your permission. These credit pulls are done for a plethora of purposes, including mortgages, credit cards, and more.
You can still qualify for a payday loan with less than great credit in Hollywood, Florida, if you have proof of repayment.
So, when you apply, albeit in person or online, double check that you have your income information easily accessible and any other documents showing that you can repay the loan. The more evidence you possess, the better chance your loan request will be granted.
When Will I Get My Funds in Hollywood, Florida?
When you receive your loan really depends on your lender as some lenders provide same-day paycheck advance loans, which means you will see your payday loan on the same day you submit your application, as long as you're approved.
Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not receive your deposit until Monday.
If you're searching for a same-day payday advance loan in Hollywood, Florida, you will need to make sure you're applying by 10:30 am. All same-day deposits going out that day will be approved by that deadline. However, you should apply earlier than that if possible, as it will increase the likelihood that you get your funds on the same day that you submit your application.
One more factor that you should be aware of is despite if the lender approves your application and posts the loan to your bank, sometimes the bank won't release that credit right away. It's vital that you let your bank know that you plan to receive a paycheck advance loan, so they could possibly make an exception in releasing the money earlier.
On the whole, it's wise to prepare in advance to receive money on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Think About Working With PaydayLoanRadar
If you have poor credit or no credit and are needing to secure a paycheck advance loan, think about applying through us, as you frequently have a higher chance of approval.
We partner with hundreds of different lenders who provide their services online. Much of the time you will receive your funds on the next business day so make sure that you plan accordingly.
However, you can always locate the nearest paycheck advance loan store to you and apply in person to strengthen the chances of receiving your funds on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may ask for proof of address, so take along a utility bill to the store as well.
To locate the nearest paycheck advance loan storefront, please use the list below and find your city.
Payday Loan Direct Lender Companies in Hollywood, FL
Below you will find a list of payday loan companies offering their services in Hollywood, Florida. If you can't find a lender near your location in Hollywood, 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 Hollywood, 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.