Payday Loans in Lake Mary, Florida
Life happens, and we usually end up in a place where we must cover some unforeseen expenses. Think about applying for a paycheck advance loan in Lake Mary, FL, to see if you meet the requirements.
The loan application process is swift and simple. To be qualified, you have to meet a few straightforward conditions.
What is a Cash Advance Loan? What Can It Cover?
A paycheck advance loan is where the borrower will be extended a petite amount of cash on a short-term contract. This is considered an unsecured loan because no collateral is expected.
When unforeseen costs present themselves, for example past due rent or utility fees, vehicle fixes, health or vet expenditures, and so on, individuals often seek out cash advance loans.
Paycheck Advance Loan Requirements In Lake Mary, FL
In Lake Mary, FL, paycheck advance loan borrowers must meet several stipulations to qualify for a loan.
The borrower must:
- Prove that they are a resident of Lake Mary, FL
- Must be 18 or older
- Receive a steady stream of income that they can provide proof of being at least $1,000/month
- Give up-to-date contact information such as cell phone number and email address
- Provide their social security number
If a borrower does not abide by the above criteria, they will immediately be denied a cash advance loan. Make sure you can provide the documents needed when submitting your application.
Laws and Regulations Concerning Cash Advance Loans in Lake Mary, Florida
Florida has deemed payday lending legal. Although, they have set the following rules and regulations for the payday lending market:
- A single lender cannot offer a loan greater than $600. Borrowers may not possess greater than two outstanding loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not set, the longest loan term length is 31 days. In Florida, borrowers cannot rollover their loans.
- The fees and charges vary for each money lender. The service costs enacted by lenders on a cash advance loan do not fall under interest. The service fees apply to each $100 loaned and can range from 11% up to 15%.
- An interest rate must be mutually agreed upon. APR can range up to 369%.
Will Cash Advance Lenders in Lake Mary, FL, Complete Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we have a relationship with will complete a credit check on you, still, even if you have no credit or dismal credit, you may still be eligible for a loan as long as you can show that you are able to pay back the loan. Lenders are usually unbothered by your credit history if you have proof of income and a plan to repay the loan.
Lenders will rely on a soft credit pull, which will not impact your credit score. This is solely to get an idea of your credit history and general information.
A hard credit check, on the other hand, must have your explicit consent. These credit pulls are used for various purposes, such as mortgages, credit card applications, and more.
You can still qualify for a payday loan with poor credit in Lake Mary, Florida, as long as you can prove you will repay the loan.
So, when you apply, whether it is in person or online, ensure that you have your income information available and any other documents showing that you can pay back the loan. The more proof you show, the more likely your loan application will be approved.
When Will I Get My Loan in Lake Mary, FL?
When you receive your cash actually depends on your lender as some lenders offer same-day paycheck advance loans, which means you will receive your cash advance loan on the same day you submit your application, as long as you get an approval.
Much of the time, however, lenders will send the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you may not receive your cash until Monday.
If you're wanting a same-day payday advance loan in Lake Mary, Florida, you will need to be sure that you're applying by 10:30 am. All same-day loans going out that day will be approved by that deadline. However, you should apply earlier than that if able, as it will increase the likelihood that you receive your loan on the day that you submit your application.
One other consideration that you should be aware of is even if the money lender approves your application and posts the funds to your checking account, occasionally the bank won't release that deposit at that time. It's important to let your bank know that you plan to get a cash advance loan, so they might make an exception in releasing the cash earlier.
Overall, it's best to prepare ahead of time to receive your deposit on the next business day. That way, you're not out of luck if you cannot receive it on the same day.
Think About Working With PaydayLoanRadar
If you have underwhelming credit or no credit and are wanting to get a cash advance loan, think about applying through us, as you usually have a higher chance of approval.
We work with over one hundred different lenders who provide their services online. Much of the time you will get your cash on the next business day so make sure that you plan appropriately.
However, you can always locate the closest paycheck advance loan storefront to you and apply in person to increase the chances of receiving your money on the same business day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport will work as well. Occasionally, lenders may require proof of address, so take along a utility bill to the store too.
To locate the nearest cash advance loan store, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Lake Mary, FL
Below you will find a list of payday loan companies offering their services in Lake Mary, Florida. If you can't find a lender near your location in Lake Mary, 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 Lake Mary, 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.