Payday Loans in Lakeland, Florida
Events happen, and we usually wind up in a situation where we have to cover some surprise expenses. Consider submitting an application for a payday loan in Lakeland, Florida, to see if you qualify.
The loan application process is fast and straightforward. To qualify, borrowers have to meet a couple of simple conditions.
What is a Payday Loan? What Can It Pay For?
A cash advance loan is where the borrower will get a small sum of cash on a short-term agreement. This is thought of as an unsecured loan as no collateral is required.
When unforeseen financial needs arise, like late rent or utility bills, auto repairs, medical or vet bills, and so forth, people frequently rely upon paycheck advance loans.
Paycheck Advance Loan Criteria In Lakeland, FL
In Lakeland, Florida, payday loan borrowers are required to meet a few criteria to qualify for a loan.
The borrower is required to:
- Provide proof that they live in Lakeland, Florida
- Must be at least 18
- Have a steady income that they can provide proof of being at least $1,000 per month
- Give up-to-date contact information such as phone number and email address
- Give their social security number
If a borrower does not meet the above criteria, they will automatically be denied a payday loan. Make sure you possess the documentation needed when requesting a loan.
Laws and Rules Regarding Payday Advance Loans in Lakeland, Florida
The State of Florida has deemed payday advance lending legal. Still, they have put forth the following rules and laws for the payday lending industry:
- An individual money lender cannot extend a loan greater than $600. Borrowers cannot possess more than two active loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not determined, the maximum loan term length is 31 days. In Florida, borrowers may not rollover their loans.
- The fees and charges are different for each money lender. The service fees charged by the lender on each loan or transaction do not fall under interest. The service fees apply to each $100 loaned and can vary from 11% up to 15%.
- An interest rate is required to be mutually agreed upon. APR can range up to 369%.
Will Payday Advance Lenders in Lakeland, Florida, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we have a relationship with will complete a credit check on you, still, even if you possess no credit or less than stellar credit, you might still be approved for a loan provided you can prove that you are able to repay the loan. Lenders are typically unbothered by your credit if you provide proof of income and a plan to pay back the loan.
Lenders will conduct a soft credit inquiry, which will not impact your credit score. This is simply to get a look at your credit history and basic information.
A hard credit inquiry, alternatively, requires your explicit consent. These credit pulls are utilized for various purposes, including mortgages, credit card applications, and more.
You may still qualify for a payday loan with poor credit in Lakeland, FL, provided that you have proof of repayment.
So, when you request a loan, albeit in person or online, ensure that you have your income information at hand and any other documents showing that you can repay the loan. The more proof you provide, the better chance your loan request will be granted.
When Will I Receive My Funds in Lakeland, Florida?
When you see your money really depends on the lender as some lenders provide same-day paycheck advance loans, which means you will get your payday advance loan on the same day you request a loan, as long as you get an approval.
Much of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not receive your cash until Monday.
If you're needing a same-day payday loan in Lakeland, FL, you will need to be sure that you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that cut-off. However, you should request a loan earlier than that if possible, as it will boost the likelihood that you see your money on the day that you submit your application.
One other factor that you should be aware of is even if the money lender approves your application and posts the credit to your bank account, occasionally the bank won't release that funds right away. It's important to let your bank know that you plan to receive a cash advance loan, so they might make an exception in releasing the loan earlier.
On the whole, it's wise to prepare ahead of time 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.
Consider Borrowing From Us
If you have poor credit or no credit and are needing to secure a cash advance loan, think about applying through us, as you probably have a better chance of approval.
We partner with more than one hundred different lenders who provide their services online. Often you will receive your deposit on the next business day so make sure that you plan appropriately.
However, you can always locate the nearest payday loan store to you and apply in person to increase the chances of getting your loan on the same business day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may ask for proof of address, so bring a utility bill to the store too.
To find the nearest payday advance loan store, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Lakeland, FL
Below you will find a list of payday loan companies offering their services in Lakeland, Florida. If you can't find a lender near your location in Lakeland, 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 Lakeland, 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.