On an assumed loan amount of $600 over 3 months. Representative 400% APR. Total repayment amount $1037.85. 3 monthly payments of $345.95.
Get a Fast Payday Loan in Florida Today
We can help you borrow anywhere from $100 to $35,000 to make sure you get through your financial circumstances and you can receive the funds within just 60 minutes. From Jacksonville, to Miami, to Orlando, Capital Bean Can Help.
How To Apply For A Fast Payday Loan Today
How Can Capital Bean Help You Find A Payday Loan In Florida?
Capital Bean can help you find quick cash between paychecks. Whether it is an emergency when it comes to medical care, a broken-down car that gets you to work, or a leaky roof – there is a wide range of reasons you might need access to quick funds. We can help you get your payday loan anywhere in Florida and applying is 100% free and can be done online. Apply today and receive an instant onscreen decision from our panel of lenders.
What Are The Eligibility Requirements For A Payday Loan In Florida?
In order to avoid disappointment, it is always advisable to check whether you’re eligible for a loan before using the online request form. To be eligible for a payday loan in Florida there are four simple eligibility requirements:
- Applicants must be residents of the US
- Be at least 18 years old.
- Demonstrate a monthly income of at least $800.
- You must have an active checking account where your payday loan can be paid into.
Are Payday Loans Legal In Florida?
According to state law, payday lending is legal in Florida. There is a $500 amount limit on payday loans in the state of Florida. Payday loans can be taken out over a period of between 7 to 31 days and the maximum finance charge is 10% for every $100 (plus fees) with a maximum APR of 304%.
Borrowers are only allowed to take out one loan at a time and rollovers are not permitted.
Should I Get A Florida Payday Loan?
The majority of the borrowers we work with at Capital Bean work with us to get through a rough financial patch. This could be an emergency vet’s bill or just a shortfall for your bills before you next get paid. Once you’re approved by one of our panel of lenders you could have the money the very same day.
Capital Bean helps people in Florida find a payday loan with the best options:
Flexible repayment options
Options for borrowers with poor credit
Online loan request form
Payday loans are not the right solution to every financial challenge. They are not the right product if you want extra money to go out to restaurants, go to a bar, or go shopping. They’re also not the right option if you need to solve a long-term financial challenge like a credit card bill or other types of debt.
Before you accept the loan make sure to look carefully at a lender’s terms and conditions to determine whether the loan is actually affordable. When we say affordable we mean that you can pay back the monthly installments. If you don’t pay back the amount that you owe each month then the lender might add extra interest to your loan which could put you in more debt and impact your credit score.
Where Can I Get A Payday Loan in Florida?
We work across the whole of Florida to provide competitive loans wherever you might live in the south. Below we have listed some of the biggest cities in that we work in but becuase our loans form is 100% online we can help you regardless of where you live in Florida.
Lake Worth Beach
Land O’ Lakes
North Fort Myers
North Miami Beach
Palm Beach Gardens
Port St. Lucie
Royal Palm Beach
South Miami Heights
Town ‘n’ Country
West Palm Beach
Florida Payday Loans Rules And Regulations
|Interest Rate (APR)||304%*|
|Maximum Loan Amount||$500 for single payment and $1,000$ for installment loans|
|Minimum Loan Term||7 days for single payment and 60 days for installment loans|
|Maximum Loan Term||31 days for single payment and 90 days for installment loans|
|Number of Rollovers||0|
|Number of Outstanding Loans||1 at a time|
|Cooling-off Period||24 hours|
|Finance Charges||10% of an amount and $5.00 verification fee|
|Statute of Limitations||5 years (from the last payment)|
|Database Loan Tracking||Yes|
Reference: Florida Office of Financial Regulation
How Much Would It Cost To Take Out A $1,000 Florida Payday Loan?
In Florida, you can take out two different types of loans. Installment loans or single payment loans.
If you take out an installment loan you can borrow a maximum of $1,000 spread out over 90 days. This would be 3 equal repayments. The maximum APR for this type of loan is 304%.
This means you pay back a total of $1,649.48. This is broken down to $1,000 principal, $544.48 in interest, $105 in finance charges. To pay this back you would make 3 x $514.83 payments.
Single Payment Loans
A single payment loan is sometimes called a payday loan and means you would pay the full amount back after your next payday. You can borrow a maximum of $500 payable within 30 days. The maximum APR for this type of loan is also 304%.
This means you would pay back a total of $681.66. This is broken down to $500 principal, $126.66 in interest, and $55 in finance charges. To pay this back you would make 1 x payment of $681.66
The above are given as examples and terms might change depending on who you borrow from. Always read the terms and conditions closely before taking out a loan.
Can I Get A Florida Payday Loan If I Have Bad or Poor Credit?
Yes – it is possible to get a loan if you have very bad credit. You might still be eligible and in Florida, you can still find a loan if you’ve been turned down in the past. You might have been turned down by a bank, app, or credit union for your poor credit and need to find an alternative source for a loan. Your credit score might have been impacted by a mistake in the past and we understand that this happens. At Capital Bean we believe you should always have the opportunity to rebuild your financial strength. We work with borrowers of all ages and backgrounds and will help you get started to find the right payday loan for you.
The right partner
Capital Bean only ever works with trusted lenders so we can guarantee responsible lending. With hundreds of different lenders available across Florida, we can analyze your application and make sure we are finding the right lender and the best loan product for your personal circumstances.
No impact on your credit history
Capital Bean will use soft credit checks to assess your finances which will never leave a visible footprint on your credit history. We look at factors other than just your credit history in order to determine your creditworthiness. This means that even if you have a poor credit score, you can still be considered for a loan.
Capital Bean is a broker rather than a direct lender. This means that we do not supply the funds directly but instead match you with the best lender for you. Even if you have poor or bad credit, we will always try and help you find access to funds.
How Can I Find A Payday Loan In Florida?
At Capital Bean, our application process is 100% online. You can apply from the comfort of your own home and with Capital Bean, you can borrow up to $35,000 today. Our application process takes under 5 minutes to complete and the approval decision is made immediately by our lenders.
We want to make the payday borrowing process as quick and easy as possible so we could even have the money in your bank account in under 60 minutes!
We know that time is of the essence with payday loans, especially when you have unexpected expenses. Your main priority always has to be safe and quick access to finances. This is why we make our process as quick as possible – being 100% online means you can be approved within minutes and get the money the same day, the next day, or within 24 hours.
Payday loans aren’t right for every situation. If you are experiencing long-term financial problems or want to borrow money over a longer time frame, then this type of loan product is probably not right for you. Make sure to read the T&Cs closely before agreeing to the loan and make sure that you are using it for short-term borrowing only.
What Are The Repayment Terms Of A Payday Loan In Florida?
Different lenders have different terms and conditions. And it also depends on how much money you are borrowing.
If you are taking out a loan of under $1,000 this is considered a small loan and the most typical repayment period is between 2 and 4 weeks.
If you are borrowing a larger amount of money – $1,000 up to $35,000 then you would usually spread these payments out over a longer period of time. Depending on who you borrow money from you could be paying back your loan for up to 5 years.
If you cannot pay back your monthly installment then this could have a negative impact on your credit score and could also mean you need to pay more interest on the loan.
How Fast Can I Get A Payday Loan?
Fill out our 100% online request form and receive a decision about your loan approval in minutes. If your application is successful, you could even receive the funds directly into your account on the same day.
Capital Bean aims to make the process as simple and quick as possible. That is why we work with multiple lenders across Florida to help get the money to you as quickly as possible. Successful applications can receive money from the lender straight into their account in as little as an hour.
To speed up the process and to help you get fast access to funds, make sure you have relevant information ready to fill out the form such as your bank account details. If you are wanting to receive the decision as quickly as possible, make sure to submit your application during Florida working hours as this is when the majority of loans are approved. Being able to respond quickly to any queries or document requests will make it more likely that your loan is approved.
What Is The Process To Request A Loan In Florida?
Get started today by clicking on the ‘get started’ button below. This will take you straight to the online form. Answer some simple questions about how much you wish to borrow and over how much time. You will also be asked for a few personal details including your income, monthly expenditure and employment status.
FAQs for Payday Loans in Florida
What’s the maximum and minimum I can borrow?
Payday loan amounts range from $100 to $35,000; however the state of Florida operates with a maximum loan amount of $500.
If I have bad credit can I still get a payday loan?
Absolutely, yes. Capital Bean works with a wide range of people with different credit histories. This also includes those that have a bad credit history or score.
What’s the maximum and minimum duration of a loan?
At Capital Bean you can borrow to be repaid over a maximum period of 5 years. Some of our shortest loans are repaid in 2 weeks depending on the amount.
Is Capital Bean a lender?
Capital Bean is a broker, meaning that we will not pay you the funds directly but instead work with our panel of lenders to get you the best possible rate in Florida. We will pass your details on to the lender that is best suited to your circumstances. This means the best interest rates and best repayment terms.
How much does it cost to submit a payday loan request in Florida?
There are no fees to submit a payday loan request in Florida via Capital Bean’s online application service.
How quickly can I get the funds through?
If you’re approved you could have the funds in as little as an hour. So if you’re looking to get money through on the same day then Capital Bean could be the right partner for you.