Payday Loans in Tampa, Florida
Life happens, and we usually find ourselves in a situation where we have to pay for some unforeseen expenses. Think about applying for a payday loan in Tampa, FL, to see if you meet the requirements.
The loan process is fast and straightforward. To be eligible, borrowers have to satisfy a couple of simple conditions.
What is a Cash Advance Loan? What Can It Be Used For?
A payday advance loan is where the borrower will get a petite amount of cash on a short-term contract. This is considered an unsecured loan due to the fact that no collateral is needed.
When unforeseen financial needs present themselves, such as missed rent or utility bills, auto fees, medical or vet costs, and so on, people commonly rely upon payday loans.
Cash Advance Loan Criteria In Tampa, FL
In Tampa, FL, cash advance loan borrowers must satisfy several stipulations to be eligible for a loan.
The borrower is required to:
- Show proof that they live in Tampa, Florida
- Must be 18 years old
- Receive a steady income that they can prove that's at least $1,000/month
- Provide current contact information including phone number and email address
- Give their social security number
If a borrower does not abide by the above criteria, they will immediately be denied a paycheck advance loan. Ensure that you can provide the documentation required when applying for a loan.
Laws and Rules Concerning Payday Advance Loans in Tampa, FL
The State of Florida has deemed cash advance lending legal. Although, they have created the following rules and laws for the payday advance lending market:
- A single lender can't offer a loan for more than $600. Borrowers may not take out more 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 Florida, borrowers may not rollover their loans.
- The fees and charges vary for each loan lender. The service fees enacted by the lender on a loan are not considered interest. The service fees apply to each $100 loaned and can vary between 11-15%.
- An interest rate is required to be mutually decided upon. APR can be as high as 369%.
Will Payday Lenders in Tampa, FL, Run Credit Checks? What If I Have Poor/No Credit History At All?
Yes, the lenders we partner with will do a credit check on you, still, even if you have no credit or bad credit, you might still be eligible for a loan as long as you can show that you can repay the loan. Lenders are typically unconcerned about your credit history if you have proof of income and a plan to pay back the loan.
Lenders will rely on a soft credit inquiry, which will have no impact on your credit score. This is only to get a look at your credit history and general information.
A hard credit pull, alternatively, needs your explicit consent. These credit pulls are used for a variety of purposes, including mortgages, credit cards, and more.
You may still qualify for a paycheck advance loan with imperfect credit in Tampa, FL, 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 available and any other documents showing that you can pay back the loan. The more evidence you have, the better chance you are to be approved.
When Will I See My Loan in Tampa, Florida?
When you see your deposit truly depends on your lender as some lenders advertise same-day paycheck advance loans, which means you will receive your paycheck advance loan on the same day you request a loan, as long as you receive an approval.
Most of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Because of this, if you apply on a Friday, you might not receive your loan until Monday.
If you're looking for a same-day payday advance loan in Tampa, Florida, you will need to make sure 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 additional consideration that you should understand is even if the lender approves your application and posts the deposit to your bank, sometimes the bank won't release that funds at that time. It's paramount that you let your bank know that you plan to get a payday advance loan, so they could possibly make an exception in releasing the deposit earlier.
Overall, it's best to prepare ahead of time to receive your funds on the following business day. That way, you're not surprised if you cannot get it on the same day.
Think About Working With Us
If you have underwhelming credit or no credit and are needing to get a payday loan, consider applying through us, as you frequently 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 receive your cash on the next business day so make sure that you plan appropriately.
However, you can always find the nearest payday advance loan storefront to you and apply in person to boost the chances of receiving your cash on the same business day. When applying in person, make sure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may request proof of address, so take along a utility bill to the store as well.
To find the nearest payday advance loan storefront, please navigate to the list below and find your city.
Payday Loan Direct Lender Companies in Tampa, FL
Below you will find a list of payday loan companies offering their services in Tampa, Florida. If you can't find a lender near your location in Tampa, 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 Tampa, 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.