Payday Loans in Kendall, Florida
Incidents happen, and we often find ourselves in a spot where we have to cover some unexpected costs. Think about submitting an application for a cash advance loan in Kendall, Florida, to see if you are eligible.
The application process is swift and straightforward. To qualify, you have to meet a couple of general conditions.
What is a Cash Advance Loan? What Can It Cover?
A cash advance loan is where the borrower will receive a petite sum of cash on a short-term contract. This is deemed to be an unsecured personal loan because no collateral is needed.
When unexpected expenses arise, like past due rent or utility expenditures, vehicle fees, medical or vet bills, and so forth, individuals often turn to payday loans.
Payday Loan Criteria In Kendall, Florida
In Kendall, FL, cash advance loan borrowers are required to satisfy several requirements to qualify for a loan.
The borrower is required to:
- Show proof that they live in Kendall, FL
- Must be at least 18
- Receive a steady income that they can prove that's at least $1,000/month
- Give current contact information like cell phone number and email address
- Provide their social security number
If a borrower does not abide by the above requirements, they will automatically be denied a paycheck advance loan. Ensure that you possess the documents required when applying.
Laws and Regulations Concerning Cash Advance Loans in Kendall, FL
Florida has deemed payday advance lending legal. However, they have enacted the below rules and regulations for the cash advance lending market:
- A single money lender can't offer a loan greater than $600. Borrowers are not allowed to possess more 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 the State of Florida, borrowers are unable to rollover their loans.
- The fees and charges vary for each lender. The service costs charged by the lender on a payday loan do not fall under interest. The service fees apply to every $100 borrowed and can vary between 11-15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Kendall, FL, Perform Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we have a relationship with will run a credit check on you, but, even if you have no credit or bad credit, you may still be approved for a loan given that you can show that you are able to repay the loan. Lenders are usually unbothered by your credit history if you provide proof of income and a strategy to pay back the loan.
Lenders will use a soft credit inquiry, which will not impact your credit score. This is only to get an idea of your credit history and general information.
A hard credit inquiry, on the other hand, needs your explicit consent. These credit pulls are utilized for various purposes, such as mortgages, credit card applications, and more.
You may still be approved for a payday advance loan with bad credit in Kendall, FL, as long as you can prove you will repay the loan.
So, when you apply, albeit in person or online, ensure that you have your income information easily accessible and any other documents verifying that you can pay back the loan. The more proof you possess, the better chance your loan request will be granted.
When Will I Receive My Loan in Kendall, Florida?
When you see your cash really depends on your lender as some lenders advertise same-day paycheck advance loans, which means you will see your paycheck advance loan on the same day you submit your application, as long as you receive an approval.
Most of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not get your deposit until Monday.
If you're needing a same-day paycheck advance loan in Kendall, FL, you will need to make sure you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that deadline. However, you should submit an application earlier than that if possible, as it will increase the likelihood that you see your money on the same day that you submit your application.
One more factor that you should know is even if the lender grants your loan request and posts the loan to your bank account, occasionally the bank won't release that funds immediately. It's important to let your bank know that you plan to receive a paycheck advance loan, so they might make an exception in releasing the deposit earlier.
Overall, it's wise to prepare in advance to get your loan on the following business day. That way, you're not out of luck if you cannot get it on the same day.
Think About Working With PaydayLoanRadar
If you have poor credit or no credit and are searching to secure a cash advance loan, think about applying with us, as you most likely have a better chance of approval.
We partner with over one hundred different lenders who offer their services online. Most of the time you will get your cash on the following business day so make sure that you plan correctly.
Although, you can always find the closest cash advance loan store to you and apply in person to boost the chances of seeing your cash on the same day. When applying in person, ensure 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 too.
To find the nearest cash advance loan storefront, please refer to the list below and find your city.
Payday Loan Direct Lender Companies in Kendall, FL
Below you will find a list of payday loan companies offering their services in Kendall, Florida. If you can't find a lender near your location in Kendall, 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 Kendall, 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.