How to access online payday loans in Florida?


How to access online payday loans in Florida?

A payday loan is a small short-term advance utilized to meet unforeseen costs. Not suitable for long-term requirements, they are a safe and convenient method to stretch the purchasing power to meet unexpected expenses.


According to Florida state law, payday lending is legal and the lenders must be licensed to lend money. The loan amount should not exceed $500. Payday loans in Florida can be taken for a period of 7 to 31 days with the maximum charge of 10% for every $100 excluding verification fee which should not be more than $5. The interest rate (APR) on Florida payday loans is 304%. Payday lenders must disclose all loan-related information, including fees, terms, and repayment process before a consumer agrees to sign any loan.

You can only have one outstanding payday loan in Florida. Tracked through a central database, loans must be paid in full before you are eligible to receive another payday loan. When you pay back your loan, there is an additional 24-hour cooling-off period before you can apply for another payday loan.


Rollovers are not allowed requiring the borrower to repay the loan on the agreed date. Florida cash advances range anywhere from $50 to $1,000. In exchange for the cash you need, a token fee is charged. This charge along with the initial amount borrowed will be due on your next day of pay.

Borrow with care

Customers are advised to consider the amount of their next income and figure out how much they can properly repay within their spending plan. Although most lending institutions enable you to “re-purchase” or renew your loan, this is not recommended, as it can result in a debt trap costing you much more in the long term.

Problem of bad credit

Unlike mortgage or car loans, these are unsecured individual loans for small amounts for people in need of short-lived monetary help. In most cases, loans are based on earnings and other criteria. Most lending institutions don’t even utilize a standard credit check. However, for larger amounts lenders may use your credit report to make a loaning decision.

Easy Online Application

Featuring easy online applications, one can apply for these loans from the convenience of your home. In fact, you can finish the application online in minutes. However, one must ensure to have social security number, source of income, and banking details handy while filling up the application.

Eligibility Criteria

Payday lending is controlled in Florida, and there are some limitations as in every state. Generally, you must be 18 years of age, have an active checking account, be employed, and have a stable place of residence. Payday lending is available to the residents of Florida but also to those who are thinking of moving into the state.

Criminal action

A lender cannot take any criminal legal action against a borrower who is unable to repay.  Florida payday loan law provides consumers with a 60-day grace period in case you are unable to repay on your scheduled date.


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