Payday Loans in Tallahassee, FL
Do you lack funds to survive the month? A quick cash infusion may help you bridge the gap. A payday loan with decent terms can help you deal with expenses like rent, bills, or other unexpected costs. Such small loans can provide you with the much-needed money until your next paycheck.
We offer payday loans to eligible Tallahassee residents within the 850 code area. Once approved, you can access cash amounts up to $500, regardless of the reason for applying. Below, you can find the essential features of our Tallahassee payday loans you need to be aware of before applying.
How To Apply For A Payday Loan Online In Tallahassee, FL?
AdvanceSOS has completely digitalized the application process. By doing so, we allow customers to both apply and get approved online. We process applications online and deposit the cash on your account via direct bank transfers. Overall, the procedure of getting online payday loans in Florida consists of four steps:
- A person visits our website and fills out a short loan application form. This usually takes a few minutes.
- AdvanceSOS checks the eligibility of the applicant. We may pull a soft credit check and then decide.
- You receive approval with a tailored offer. The offer should include all fees, conditions, and repayment terms. If you reach an agreement on the offered terms, you will need to sign an online contract.
- The approved amount gets deposited into your checking account like a cash advance. The transfer can range from a couple of hours to a day. Deposits depend on the time of applying, bank closures, and holidays.
What Will You Need?
Just like all Florida lenders, AdvanceSOS lenders in Tallahassee, Florida, impose specific criteria on prospective borrowers. Note that online applications tend to keep the process straightforward. When requesting a loan through the web, we typically ask borrowers to present the following:
- The borrower must be over 18.
- Personal information, such as name, address, current phone number, and e-mail address.
- A Social Security Number.
- Active bank account number.
- Revenue source, including the employer’s or company name.
- Proof that the customer is a legal resident of Tallahassee, Florida.
The above documents are mandatory so that we can verify your eligibility. Sometimes, lenders may request extra information to secure the cash transaction.
How Much Can You Borrow?
Though loan amounts vary depending on the borrower’s circumstances, the following are the most frequently sought ones. Often, payday loans Tallahassee FL cap at $500, while installment loans get approved up to $1,000.
- 100 dollar loan
- 200 dollar loan
- 300 dollar loan
- 500 dollar loan
When Will You Receive Your Funds?
After you get approved, the lender will take all steps to transfer the instant cash as soon as possible. Sometimes, you may get a call from a representative to explain the process and verify your eligibility.
Some lenders may even offer money in as soon as a couple of hours. Still, most quick cash providers from our network transfer the funds in one business day. Expect delays in money deposits if you apply late in the evening or during weekends and national holidays.
APR And Fees
AdvanceSOS abides by the laws and imposes reasonable fees. Most importantly, the maximum finance rate and fees must not exceed 10% of the approved amount. Additional verification fees cannot exceed $5.
Finance charges usually reach 10%, which means an annual percentage rate of 304%. Late fees are possible and may increase your interest rate. Hence, always pay on time to avoid the consequences of late or missed payments. We may even charge you an early settlement or a processing fee.
Consumers from Tallahassee should know that these restrictions typically apply statewide. Meaning, our network of lenders from Lakeland, FL, or Crestview impose the same caps on APRs and fees.
Regulations Surrounding Payday Loans In Tallahassee FL
Specific regulations offer protection from scam lenders. Also, the law contains strict limitations for lenders to abide by when issuing payday loans in Tallahassee, FL. Borrowers in the 850 code area of Florida can apply for and receive payday loans up to $500 (without fees). Our applicants must present an income source of no less than $1,000 per month to get considered.
The law allows only one loan at a time, with at least 24 hours between each loan. The minimum debt repayment period is seven days, whereas the maximum is 31 days.
Florida does not accept rollovers and protects borrowers from criminal lawsuits for nonpayment. Our grace periods may extend loan terms by 60 days without additional charges. Yet, this service requires credit counseling.
Though advance payday loans may help resolve most financial hardships, they may not fit your budget. To help you find other credit options, we cover various alternatives to personal loans below.
Bad Credit Loans
If you have bad credit, try our loans for bad credit in Tallahassee, FL. You’ll probably pay higher interest rates, but you can also get access to a broader range of lenders. For these types of loans, a credit score of 550 or under might not be an obstacle to qualifying.
It’s advisable to pre-qualify before applying for payday loans to avoid undergoing a hard credit check. Approval for a bad credit loan in Tallahassee usually depends on whether we assess you as a risky borrower. Moreover, eligibility gets determined based on your credit score, income, and other factors.
Tallahassee residents can get a title loan from us of up to $25,000. Our title loans enable quick access to cash based on your vehicle’s appraised value. All you need is your car and the vehicle’s title to get the funds you need. Also, ensure you provide your ID, proof of income, and a spare key to the car that serves as collateral.
Emergency Car Repair Loans
Our auto repair loans serve to cover sudden car expenses. Emergent repairs may include replacing broken parts or fixing accident damage. If you go for an unsecured loan, we will probably run a credit check. With secured financing, the car’s title can serve as collateral.
No Credit Check Loans
Products that require no hard credit checks may take the form of personal, installment, or other short-term loans. These may save the day if poor credit prevents you from getting a traditional bank loan.
With a no-credit-check loan, we factor in various data to determine your creditworthiness. These may include your credit score, income, employment, and bank account standing. To obtain credit scores, we usually run a “soft” credit check.
Payday Loans For Unemployed
AdvanceSOS considers revenue other than a full-time job when approving loans. In short, we encourage anyone to apply if they have reliable income such as Social Security, retirement, or pension. To qualify, customers must prove their regular income from other sources and have good credit.
Legit Payday Loans
Payday loans online are legal in Florida, but the maximum amount you can borrow is $500. The upside of a payday loan is that you don’t need to rely on family and friends and the funds are easily accessible. You can get money immediately or within a few days and take care of urgent matters quickly. Finally, fast disbursement of funds is another benefit of using our payday loans for Tallahassee consumers.
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.