Payday Loan in Lakeland, FL
Over half of Florida citizens have problems finding short-term funds to resolve an urgent need. Luckily, there are several options available on the market that can quickly help you out. Short-term loans aim to provide cash to help remedy those temporary emergencies.
A payday loan is a 7 to 30-day short-term financial product due on your next pay date. Customers can then use the cash to cover anything from medical bills, utilities to car and home repairs. Though some of the charges and APRs can be discouraging, our AdvanceSOS payday loans can save the day when you’re strapped for cash.
How to Apply for a Payday Loan Online in Lakeland, FL
Going from store to store and looking for a cash product that best fits your wallet is exhausting! That’s why we offer payday loans online for Lakeland, FL customers. Here, you can apply and get approved for a loan, all without leaving the comfort of your home. Follow the steps below to make this process as quick and straightforward as possible:
- Search for our website in your browser and look for the “Apply” button.
- Once the loan application opens, add your information and submit it.
- We will send your request to our lender network. If approved, you may get several loan offers.
- Select the offer that works best for you. To receive the money, e-sign the enclosed documents and loan agreement the lender sends to you.
- Receive the funds within a day or two. Make sure to repay your loan on time to maintain a good credit score.
What Info Will You Need?
Before applying for payday loans in Lakeland, Florida, make sure you have the necessary documents at the ready. While different lenders require different documents, here are the ones that almost every lender will require that you provide:
- A government-issued ID proving that you’re over 18 and a legal resident of Lakeland, FL
- A verifiable source of income
- An active checking account
- You cannot be a debtor in bankruptcy
- Have a phone number and a valid email.
The requirements above are mandatory for any lender to consider your application. If the lender needs further details, they may contact you to get that extra info.
How Much Can You Borrow?
There is a limit of money applicants can get from payday loans in Lakeland, FL, online. Most customers request loans in the following amounts:
- 100 dollar loan
- 200 dollar loan
- 300 dollar loan
- 500 dollar loan
- 1000 dollar loan
Though our lender network’s approval rate is relatively high, the cash you receive also depends on your ability to repay your debt. Meeting all application criteria upfront ensures you’ll get that urgent money fast.
When Will You Receive Your Funds?
Most payday lenders strive to transfer instant cash the same day. If AdvanceSOS approves your application in the morning, you’ll get the money within hours. Expect the funds to hit your account as soon as the same day.
Sometimes, the deposit may get delayed until the next business day. Delays are possible as quick cash depends on the time you got approved and banking hours.
APR And Fees
The average APR customers should expect when getting a payday loan is 304%. The exact APR will depend on the borrowed amount and the repayment term. As for terms, single payday loans should have a term duration between seven and 31 days, while installment loans are more extended, ranging from 60 to 90 days.
The statutory charge for payday loans Lakeland FL caps at 10% of the amount. This applies to all payday loans in Florida. For example, if you borrow $400, you’ll pay $40 in finance charges. Note that payday lenders can charge a $5 verification fee for loan processing.
Regulations Surrounding Payday Loans in Lakeland, FL
Florida has introduced some strict rules to regulate payday loans. AdvanceSOS guarantee protection by complying with all applicable laws and regulations. We have also established a reasonable charge system that fits every budget.
The maximum amount of a single payday loan in Lakeland, Florida, stands at $500. If you opt for an installment product, you can borrow up to $1,000.
Also, borrowers can only have one outstanding loan at a time. Plus, there is a cooling-off period of 24 hours between two consecutive loans. Rollovers aren’t allowed.
Residents in area code 863 who meet the previously stated criteria can apply for most advance payday loans. To help you choose the ideal loan for your situation, we list several funding alternatives you should consider.
Bad Credit Loans
AdvanceSOS reviews applications from clients with all types of credit. Credit is not the only segment we consider when approving quick funding.
Still, borrowers must present evidence of a stable and recurring income. If you show revenue of $1,000 per month, lenders see you as a less risky client who can repay on time. Factors such as education and employment type may also get figured in.
Small loans may not suffice if you’re facing a higher-scale financial issue. With title loans, you can get 25% to 50% of the car’s value. Meaning, borrowers in Lakeland can easily take up to $5,000. Remember that most lenders require you to pay title loans back within a month.
Besides pledging your vehicle as collateral until you pay your debt, you may also be subject to other fees. Luckily, you can drive the car while you’re repaying.
Emergency Car Repair Loans
Consider emergency car repair loans if your vehicle suffers damage or you’re part of an incident. These urgent cash boosts can also prove helpful when you need to pay emergency charges and fines.
You can back up emergency products by AdvanceSOS with a vehicle or take an unsecured loan. Ensure you meet all criteria and submit the required documents to get approved faster. Note that our emergency transfer process is instant and reliable.
No Credit Check Loans
Many Lakeland residents have a FICO score below 640, and banks often reject them for traditional funding options. If this looks like you, no credit check loans may be your solution.
AdvanceSOS strives to help borrowers regardless of their financial history. Provided you fulfill the underlying requirements, we won’t run a hard inquiry. Still, we rely on soft credit checks to ensure your capacity to pay back your loan. What we focus on is your employment history, past debt, and account balance.
Payday Loans for the Unemployed
Have you become jobless recently, or are you in between jobs? If you’re currently out of work, go for an online payday lender specializing in loans for the unemployed.
We approve small loans to applicants who receive any benefits such as retirement or pension. As long as you present a verifiable income source and evidence of good credit, unemployment won’t be an issue.
Legit Payday Loans
Getting a cash advance is legitimate in Lakeland, Florida. Loan companies must abide by strict regulations and be open about the rates they charge.
If you’re facing an emergency, don’t hesitate to apply for quick cash. Though APRs may reach obscene figures, payday loans in Florida may be your way out.
Amanda is a senior writer at AdvanceSOS. She has more than six years of journalism experience, mostly in the finance sector. She graduated with a Bachelor’s Degree from Drew University.