Payday loans allow you to borrow between $100 and $1,000 to fund unexpected expenses like medical bills, veterinary fees, or home repairs — anything that's considered a financial emergency. As such, it's common to wonder whether you can really get no-hassle same-day payday loans in Florida.
In this guide from Fast Payday Loans, Inc., we will go over the details of payday loans, whether you can get one the same day you apply, what you'll need to get one, and how to get one. Learn how to get approved for payday loans the same day you apply below!
Can You Get Same-Day Payday Loans?
While it is possible to get same-day payday loans, it is important to know that we cannot guarantee your money will be released on the very same day. Processing times vary on a case-by-case basis, so you may have to wait at least one business day. You may increase your chances by finishing the process before 12 PM, but there are no guarantees of same-day cash.
That said, you can conduct the entire process on the same day, ensuring you receive the money as quickly as possible. Continue reading to learn more about how payday loans work.
Understanding Payday Loans In Florida
Payday loans, also known as cash advances, are short-term loans that allow you to borrow small dollar amounts to fund emergencies. As long as you can prove your income, you can borrow up to $1,000 from a future paycheck. Your loan amount depends on your income level and ability to repay the loan with your next paycheck.
In Florida, these loans are overseen by the Florida Office of Financial Regulation's Division of Consumer Finance, and you can verify a lender through the OFR website if you're uncertain. Before taking out a cash advance, it's wise to be cautious of short-term products that resemble payday loans, as these providers may use automated clearinghouses or electronic transfers every 14 days.
The OFR Division suggests potential borrowers do the following:
- Compare lenders for the lowest possible fees
- Borrow only the amount you can afford to pay back, and never more than you need to cover your emergency
- Know the exact date of your repayment and always repay the loan in full and on time
- Consider non-profit organizations and government programs before borrowing a cash advance
- Budget to avoid needing to borrow for unforeseen expenses and emergencies in the future
We would suggest that you only use a cash advance to fund an emergency. Read on to learn about situations where a payday loan can help.
What Financial Emergencies Can You Afford With A Cash Advance?
A payday loan should be seen as a last resort for a financial emergency. Don’t borrow this loan for frivolous expenses, but rather for unexpected costs you can’t wait to pay. For example, those who may miss rent could consider a payday loan to avoid late fees and service disruptions.
Our customers use our payday loans to fund situations like:
- Home repairs — Everything from roof repairs to HVAC system failures to storm damage can come out of nowhere and cost a fortune. Unless you have a substantial emergency fund, you may find it difficult to pay for these unforeseen events. As such, payday loans can help bridge the gap.
- Medical bills — Health insurance doesn't cover everything. If you fall ill with something that isn't covered by your insurance plan, you will have to pay out of pocket for your treatment and recovery. These bills can be substantial, so it's difficult to cover when you least expect them. That's where payday loans can come in to help.
- Unexpectedly raised bills — Sometimes, utility companies raise bills without so much as a warning. While they don't always increase them by substantial amounts, it can still be enough to throw off your monthly budget. Therefore, you can tap into payday loans to fill the gap and give you a bit of breathing room until your next paycheck.
- Veterinary fees — As sad as it is, your pet will become ill at one point or another. Even those with pet insurance can struggle to pay for it! That's where payday loans come in to help. They can supplement the treatment that your pet insurance doesn't cover or even help you pay the deductible that is required by most pet insurance policies.
Getting approved for a cash advance in South Carolina only requires a few items, which you should be able to find easily. Discover the SC payday loan requirements below.
Requirements For No Hassle Payday Loans
Now that you know you may be able to get a payday loan on the same day, depending on processing times, you need to understand whether you meet the requirements.
Unlike typical personal loans provided by banks and other lending institutions, you will not need to have a near-perfect credit score to qualify. While we may check your credit score during the process, we don't require a brilliant rating. Instead, we just require a few items to prove your identity, age, checking account, and income.
With that in mind, you will need only three required items for approval:
- Identification — You must be at least 18 years of age to acquire a payday loan in Florida. We accept all primary forms of identification that show your full legal name, date of birth, and portrait photograph, including your passport, driver's license, student ID card, or military service member's ID card.
- Checking account — We use your checking account to verify your financial situation, and the details are helpful for repayment. Keep in mind that the checking account will need to be open and active in your name. It must also match the name supplied on your identification.
- Pay stub — Last but certainly not least, we will need your most recent pay stub. We use this to determine how much you make and what you can afford to pay. If you do not have income from a typical job, you will need to contact your local Fast Payday Loans Inc. branch to discuss whether you can gain approval with whatever income you do have, such as alimony, benefits, or inheritance.
We suggest you gather these items before starting the process. Once you know you can meet the requirements, you can proceed with the online request form to jumpstart the process.
How To Get Approved For Same-Day Payday Loans
If you have all the above-mentioned requirements in hand, you can follow the steps below to get your no-hassle payday loans. There are only a few steps, which you can start from your home. Once you fill out our form, you can visit us in person to get approved in less than half an hour.
Here are the steps involved in getting a payday loan in South Carolina:
- Complete our online form found on this website. It should only take a few moments to complete. You will need to provide your full name, zip code, email address, and phone number.
- Once we receive your information, we will give you a call to discuss the process, ensure you have the required items, and set up a meeting date and time that suits you. It's important to ask any questions you may have at this stage as well.
- After the phone call, head to your nearest Florida store location with the documents we talked about at the agreed date and time.
- When you arrive, we will sit down with you to verify your documents and tell you how much we can offer you.
- If you are satisfied with the amount we can lend you, we will show you where to sign the paperwork. This confirms you agree with the loan terms and conditions.
- Finally, you will receive the money as quickly as possible — sometimes on the same day. However, as we've established, processing times vary, so we cannot guarantee you will receive the loan payment on the same day as you meet with us. You will likely receive the cash within one business day.
Get A Cash Advance From Fast Payday Loans, Inc. – Borrow Up To $1,000!
Same-day payday loans are possible in Florida, but it's important to remember that it isn't guaranteed. However, you can conduct the entire process in one day, allowing you to receive the money as quickly as possible.
If you are ready to fund your emergency through no-hassle payday loans, simply submit our online payday loan form. We will call you back once we receive your information to guide you through the process. Visit us in person to get approved in less than 30 minutes!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
