Payday Loans in Lantana, Florida
Incidents happen, and we often end up in a situation where we have to cover some unexpected bills. Think about applying for a payday loan in Lantana, FL, to see if you meet the requirements.
The loan process is quick and painless. To qualify, borrowers must meet a few straightforward requirements.
What is a Payday Loan? What Can It Be Used For?
A paycheck advance loan is where the borrower will get a small sum of money on a short-term contract. This is thought of as an unsecured personal loan because no collateral is expected.
When surprise expenses present themselves, for example past due rent or utility payments, vehicle costs, medical or vet expenditures, and so forth, people often turn to payday loans.
Payday Advance Loan Requirements In Lantana, Florida
In Lantana, Florida, cash advance loan borrowers must meet several requirements to be eligible for a loan.
The borrower is required to:
- Prove that they live in Lantana, FL
- Must be 18 or older
- Receive a steady stream of income that they can prove that's at least $1,000 per month
- Give active contact information such as cell 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 cash advance loan. Ensure that you possess the documents needed when applying for a loan.
Laws and Rules Concerning Payday Advance Loans in Lantana, Florida
The State of Florida has deemed payday advance lending legal. However, they have created the following rules and laws for the paycheck advance lending industry:
- An individual lender cannot extend a loan in excess of $600. Borrowers are not allowed to take out greater than two active 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 may not rollover their loans.
- The fees and charges are different for each lender. The service fees enacted by lenders on a payday loan are not considered interest. The service fees apply to every $100 borrowed and can range between 11-15%.
- An interest rate is required to be mutually agreed upon. APR can be as high as 369%.
Will Paycheck Advance Lenders in Lantana, FL, Perform Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will run a credit check on you, but, even if you have no credit or less than optimal credit, you might still be eligible for a loan given that you can show that you are able to repay the loan. Lenders are generally unconcerned about your credit if you have proof of income and a strategy to pay back the loan.
Lenders will rely on a soft credit check, which will have no impact on your credit score. This is solely to get a feel of your credit history and general information.
A hard credit inquiry, on the other hand, must have your permission. These credit checks are done for a plethora of purposes, including mortgages, credit cards, and more.
You may still be approved for a payday loan with imperfect credit in Lantana, Florida, as long as you have proof of repayment.
So, when you apply, albeit in person or online, make sure that you have your income information at hand and any other documents showing that you can pay back the loan. The more proof you provide, the more likely you are to be approved.
When Will I Receive My Funds in Lantana, FL?
When you see your funds truly depends on the lender as some lenders advertise same-day payday advance loans, which means you will receive your payday advance loan on the same day you submit your application, as long as you receive an approval.
Most of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. Because of this, if you apply on a Friday, you might not receive your deposit until Monday.
If you're looking for a same-day paycheck advance loan in Lantana, Florida, you will need to ensure you're applying by 10:30 am. All same-day deposits going out that day will be approved by that cut-off. However, you should submit an application earlier than that if able, as it will increase the likelihood that you receive your cash on the same day that you apply.
One more consideration that you should be aware of is even if the lender grants your loan request and posts the credit to your checking account, occasionally the bank won't release that credit right away. It's paramount that you let your bank know that you plan to receive a payday advance loan, so they might make an exception in releasing the loan earlier.
On the whole, it's best to prepare ahead of time to receive your loan on the next business day. That way, you're not surprised if you cannot get it on the same day.
Think About Borrowing From PaydayLoanRadar
If you possess poor credit or no credit and are looking to get a paycheck advance loan, consider applying through us, as you usually have a better chance of approval.
We partner with over one hundred different lenders who offer their services online. Frequently you will receive your loan on the following business day so make sure that you plan accordingly.
Although, you can always find the closest payday 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, make sure that you have your government ID or driver's license; a passport will work as well. Sometimes, lenders may request proof of address, so bring a utility bill to the store as well.
To locate the nearest payday loan store, please refer to the list below and search for your city.
Payday Loan Direct Lender Companies in Lantana, FL
Below you will find a list of payday loan companies offering their services in Lantana, Florida. If you can't find a lender near your location in Lantana, 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 Lantana, 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.