Payday Loans in Laurel, Florida
Things happen, and we often wind up in a place where we have to cover some surprise expenses. Consider applying for a cash advance loan in Laurel, Florida, to see if you qualify.
The loan process is fast and straightforward. To qualify, loan borrowers must meet a few simple criteria.
What is a Payday Loan? What Can It Pay For?
A paycheck advance loan is where the borrower will be extended a petite amount of funds on a short-term basis. This is considered an unsecured personal loan due to the fact that no collateral is expected.
When unexpected expenses arise, like missed rent or utility payments, vehicle fees, medical or vet bills, and so forth, individuals commonly turn to paycheck advance loans.
Paycheck Advance Loan Criteria In Laurel, FL
In Laurel, Florida, paycheck advance loan borrowers need to satisfy a few criteria to qualify for a loan.
The borrower is required to:
- Provide proof that they reside in Laurel, FL
- Must be 18 or older
- Receive a steady stream of income that they can provide proof of being at least $1,000 per month
- Provide up-to-date contact details including phone number and email address
- Provide their SSN
If a borrower does not abide by the above requirements, they will immediately be denied a cash advance loan. Ensure that you possess the documentation required when submitting your application.
Laws and Regulations Regarding Paycheck Advance Loans in Laurel, FL
The State of Florida has deemed payday lending legal. Although, they have created the following rules and laws for the cash advance lending market:
- A single money lender cannot offer a loan for more than $600. Borrowers cannot possess more than two outstanding 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 the State of Florida, borrowers may not rollover their loans.
- The fees and charges change for each loan lender. The service costs charged by lenders on a loan do not fall under interest. The service fees apply to every $100 borrowed and can range from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Cash Advance Lenders in Laurel, Florida, Perform Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we have a relationship with will perform a credit check on you, but, even if you possess no credit or dismal credit, you might still be approved for a loan as long as you can prove that you are able to repay the loan. Lenders are usually unconcerned about your credit history if you possess proof of income and a strategy to pay back the loan.
Lenders will rely on a soft credit pull, which will have no impact on your credit score. This is simply to get a look at your credit history and basic information.
A hard credit check, on the other hand, needs your permission. These credit pulls are utilized for various purposes, including mortgages, credit card applications, and more.
You may still be approved for a paycheck advance loan with bad credit in Laurel, FL, if you have proof of repayment.
So, when you apply for a loan, albeit in person or online, double check that you have your income information available and any other documents proving that you can repay the loan. The more evidence you show, the better chance your loan application will be approved.
When Will I See My Loan in Laurel, FL?
When you receive your cash truly depends on the lender as some lenders offer same-day paycheck advance loans, which means you will get your payday loan on the same day you submit your application, as long as you get an approval.
Most of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Therefore, if you submit your application on a Friday, you may not get your loan until Monday.
If you're looking for a same-day cash advance loan in Laurel, FL, you will need to make sure you're applying by 10:30 am. All same-day funds going out that day will be approved by that time. However, you should request a loan earlier than that if able, as it will boost the likelihood that you get your deposit on the same day that you apply.
One other factor that you should know is even if the money lender grants your loan request and posts the credit to your bank, occasionally the bank won't release that loan right away. It's vital that you let your bank know that you plan to get a paycheck advance loan, so they might make an exception in releasing the funds earlier.
On the whole, it's best to prepare in advance to receive money on the next business day. That way, you're not surprised if you cannot get it on the same day.
Consider Working With PaydayLoanRadar
If you possess bad credit or no credit and are looking to secure a paycheck advance loan, consider applying with us, as you probably have a higher chance of approval.
We work with hundreds of different lenders who provide their services online. Frequently you will get your cash on the next business day so ensure that you plan appropriately.
However, you can always find the closest paycheck advance loan store to you and apply in person to boost the chances of receiving your funds 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. Occasionally, lenders may require proof of address, so take along a utility bill to the store as well.
To locate the nearest payday loan storefront, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Laurel, FL
Below you will find a list of payday loan companies offering their services in Laurel, Florida. If you can't find a lender near your location in Laurel, 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 Laurel, 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.