Payday Loans in Nichols, Florida

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No payday loan companies in Nichols, FL. Consider companies in other cities:

Company nameAddressZip codePhone number
Cash America Pawn 2397 S French Ave, Sanford, FL 32771 +1 (407) 323 - 3771
Cash America Pawn 399 E Main St, Apopka, FL 32703 +1 (407) 886 - 6969
Merchant E Solutions West Melbourne, FL 32904 +1 (321) 952 - 2002
Check On Hold 1301 Beville Rd, Daytona Beach, FL 32119 +1 (866) 284 - 4456
SunTrust Bank 308 West Alexander Street, Plant City, FL 33563 +1 (813) 359 - 5620
Money Mizer Pawns and Jewelers of Panama City, FL 2424 W 23rd St, Panama City, FL 32405 +1 (850) 215 - 3880
Thrivent Financial-Lutherans 501 Wexford Dr, Venice, FL 34293 +1 (941) 496 - 7720
MoneyGram 726 SE US Hwy 19, Crystal River, FL 34429 +1 (352) 795 - 8914
SunTrust Bank 34511 FL-54, Zephyrhills, FL 33541 +1 (813) 364 - 5871
The Check Cashing Store 7228 N Military Trl, Palm Beach Gardens, FL 33410 +1 (561) 844 - 6660

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Nichols, FL, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Navarre, FL, Payday Loan Without a Credit Check in North Fort Myers, FL, Payday Loan Without a Credit Check in North Miami Beach, FL, No Credit Check Loans in North Port, FL, Guaranteed Loans in Ocala, FL, Payday Loans in Ocoee, FL, Payday Loan Companies in Orlando, FL and Guaranteed Loans in Ormond Beach, FL. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Nichols, FL.

Are Payday Loans Legal In Nichols, Florida?

Loan Rates and Fees, Laws and Regulations in Florida.

There are three active types of payday loans in Nichols, Florida: cash advance loans , personal check loan s, installment loans . Employees may take advance loans for any period of time starting from 7 to 31 days regardless their earnings during the last one-year period. Payday loan approval is based on a borrower's credit report, which is provided by the lender and subject to verification. Credit report is delivered unchanged to the borrower who complies with lender's requirements.

Requests are usually being settled online; quick cash advance pickup service is offered as well.

Payday loans are taken for $500 and have repayment terms of 4 weeks after the date of deposit receipt. Interest rate is equal to 35% (rounded to the second decimal place); APR - 304%.

The maximum amount of all your payday loans at one time shall not exceed $500.

There is a cooling-off period of 24 hours between 2 consecutive loans.

One loan at a time is allowed. No rollovers are allowed. Criminal actions are prohibited. An administrative fee equal to 50 cents for every $10 received as an advance or rollover may be charged; fee amount depends on credit report evaluation results available 24 hours ahead of loan repayment stage, as well as it depends on contract characteristics.

Florida Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)304
Maximum Loan Amount$500 exclusive of the fees
Minimum Loan Term7 days
Maximum Loan Term31 days
Number of Rollovers Allowed0
Finance Charges0.1

Nichols, FL payday loan calculator

Payday Loans in Nichols, Florida: Understanding Your Options

Life is full of surprises, and sometimes, they can be expensive. Whether you need to pay for a medical emergency, car repair, or unexpected bill, it can be challenging to cover these costs when you’re short on cash. Payday loans are one way you can get the funds you need quickly, but it’s essential to understand how they work and what options are available to you, especially if you’re in the Nichols, Florida area.

The Basics of Payday Loans

A payday loan is a short-term loan designed to cover unexpected expenses until your next payday. They’re typically easy to qualify for and can be a good option for people with poor credit history. Florida law allows payday loans up to $500, and the maximum term for a loan is 31 days.

The application process for a payday loan is relatively simple. You’ll need to provide your personal information, proof of income, and bank account details. If approved, the lender will usually deposit the funds into your bank account within a day or two.

The Pros and Cons of Payday Loans

Like any financial product, payday loans have their advantages and disadvantages. Here are a few things to consider:

Pros:

  • Easy to qualify for: If you have poor credit or no credit history, payday loans can be an accessible option.
  • Fast access to funds: You can typically get the money you need within a day or two.
  • No collateral required: Unlike other types of loans, you don’t need to put up any collateral to secure a payday loan.

Cons:

  • High-interest rates: The interest rates on payday loans can be much higher than other types of loans, making them a more expensive borrowing option.
  • Short repayment term: You’ll need to pay back the loan within a month, which can be challenging if your financial situation doesn’t improve.
  • Risk of debt cycle: If you can’t pay back the loan on time, you may be tempted to take out another payday loan to cover it, leading to a cycle of debt.

Payday Loan Regulations in Florida

While payday loans are legal in Florida, there are specific regulations that lenders must follow. For example:

  • The maximum loan amount is $500.
  • The maximum term for a loan is 31 days.
  • Lenders cannot charge more than 10% of the loan amount as a fee.
  • Borrowers cannot take out more than one loan at a time.

Interesting Facts and Statistics About Payday Loans in Nichols, Florida

Here are some verified facts and statistics about payday loans in Nichols, Florida:

  • There are 11 payday loan stores in Polk County, where Nichols is located.
  • In 2019, Florida borrowers took out more than 7.7 million payday loans, totaling $3.1 billion in loan volume.
  • The average APR on a 14-day $100 payday loan in Florida is 419%.
  • Most payday loan borrowers in Florida are white, female, and between the ages of 25 and 44.

Applying for a Payday Loan with TheGuaranteedLoans

If you’re considering a payday loan in Nichols, Florida, TheGuaranteedLoans can connect you with potential lenders quickly and easily. We are an online loan connector service, not a direct lender, which means we work with a network of trusted lenders to find you the best option for your financial needs. To apply for a loan, simply fill out our secure online application form, and we’ll take care of the rest.

Apply Now

Don’t let unexpected expenses stress you out. Apply now for a payday loan with TheGuaranteedLoans and get the funds you need to cover your costs.

F.A.Q.

Are payday loans in Nichols, Florida regulated by the state government?

Yes, payday loans in Nichols, Florida are regulated by the state government. The Florida Office of Financial Regulation is responsible for overseeing the payday lending industry and enforcing laws and regulations related to payday loans.

Are there any alternatives to payday loans in Nichols, Florida?

Yes, there are several alternatives to payday loans in Nichols, Florida that may be more affordable and less risky for borrowers. These options include credit union loans, community development financial institution loans, and small personal loans from banks or online lenders.