Payday Loans in Lake Park, Florida
Incidents happen, and we often end up in a situation where we must cover some surprise bills. Think about submitting an application for a cash advance loan in Lake Park, Florida, to see if you qualify.
The loan request process is swift and painless. To be qualified, loan borrowers must meet a couple of basic criteria.
What is a Payday Loan? What Can It Be Used For?
A cash advance loan is where the borrower will get a petite sum of money on a short-term agreement. This is thought of as an unsecured personal loan because no collateral is required.
When unexpected costs arise, such as past due rent or utility fees, auto fixes, health or vet expenditures, and so on, individuals often seek out payday loans.
Paycheck Advance Loan Stipulations In Lake Park, Florida
In Lake Park, FL, payday advance loan borrowers must meet a few stipulations to be eligible for a loan.
The borrower is required to:
- Provide proof that they live in Lake Park, FL
- Must be 18 years old
- Have a steady stream of income that they can provide proof of being at least $1,000/month
- Provide up-to-date contact details including 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 payday loan. Make sure you possess the documents needed when requesting a loan.
Laws and Regulations Regarding Payday Loans in Lake Park, Florida
Florida has ruled payday lending legal. However, they have put forth the following rules and regulations for the payday advance lending industry:
- An individual lender cannot offer a loan greater than $600. Borrowers are not allowed to possess greater than two unpaid loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the maximum loan term length is 31 days. In the State of Florida, borrowers cannot rollover their loans.
- The fees and charges are different for each loan lender. The service costs charged by lenders on a loan are not considered interest. The service fees apply to every $100 loaned and can range between 11-15%.
- An interest rate is required to be mutually agreed upon. APR can be as high as 369%.
Will Payday Advance Lenders in Lake Park, Florida, Perform Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will perform a credit check on you, but, even if you possess no credit or dismal credit, you may still be eligible for a loan provided you can prove that you are able to repay the loan. Lenders are typically unbothered by your credit if you possess proof of income and a strategy to repay the loan.
Lenders will rely on a soft credit inquiry, which will have no impact on your credit score. This is simply to get a look at your credit history and general information.
A hard credit inquiry, dissimilarly, needs your permission. These credit checks are used for a variety of purposes, including mortgages, credit card applications, and more.
You might still qualify for a payday advance loan with bad credit in Lake Park, FL, if you have proof of repayment.
So, when you request a loan, whether it is in person or online, double check that you have your income information ready and any other documents proving that you can pay back the loan. The more evidence you possess, the more likely your loan application will be approved.
When Will I See My Loan in Lake Park, FL?
When you receive your loan actually depends on your lender as some lenders offer same-day paycheck advance loans, which means you will receive your payday 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 following business day. Businesses usually close for holidays and weekends. Because of this, if you apply on a Friday, you might not get your cash until Monday.
If you're looking for a same-day paycheck advance loan in Lake Park, Florida, you will need to make sure you're applying by 10:30 am. All same-day payments going out that day will be approved by that deadline. However, you should request a loan earlier than that if able, as it will increase the likelihood that you see your money on the day that you apply.
One other factor that you should understand is even if the money lender approves your application and posts the loan to your checking account, sometimes the bank won't release that deposit immediately. 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 wise to prepare ahead of time to receive your funds on the next business day. That way, you're not out of luck if you cannot get it on the same day.
Consider Borrowing From PaydayLoanRadar
If you possess poor credit or no credit and are needing to get a payday advance loan, consider applying through us, as you most likely have a better chance of approval.
We work with over one hundred different lenders who provide their services online. Much of the time you will get your funds on the following business day so ensure that you plan accordingly.
Although, you can always locate the nearest payday advance loan store to you and apply in person to increase the chances of getting your loan on the same day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may ask for proof of address, so bring a utility bill to the store as well.
To find the nearest payday loan store, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Lake Park, FL
Below you will find a list of payday loan companies offering their services in Lake Park, Florida. If you can't find a lender near your location in Lake Park, 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 Park, 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.