Payday Loans in Jacksonville, FL
Are you currently in a financial bind and in need of emergency funds? Payday loans in Jacksonville, FL, come in handy to bail you out of that cash crunch quickly and discreetly. You don’t have to get your family and friends involved. Apply now and get fast cash in your bank account the next business day.
Why Choose LenderMill for Payday Loans Jacksonville, FL
|Quick Approval Process||Trusted Lender Panel||Best Interest Rates||No Credit Checks|
|Easy application and guaranteed next-day funding upon approval.||All our lenders are regulated by the Florida Office of Financial Regulation.||Get the most competitive rates and repayment terms in the industry.||Access up to $1,000 in payday loans even with a bad credit score.|
How To Apply Online for a Payday Loan | Jacksonville, FL
- Loan Inquiry. Complete the secure online form by filling out some basic personal information, such as your name, phone number, current employment status, source of income, and the loan amount you’re applying for.
- Lender Matching. We will take a few hours to review the information you submitted and match you with a suitable lender.
- Loan Approval. Sign a digital loan agreement upon approval, and the funds will be deposited into your bank account the next business day.
Short-Term Loan Options in Jacksonville, FL
|Payday Loans||Installment Loans||Title Loans|
|Maximum Loan Amount||$500||$1,000||Up to $25,000|
|Maximum Loan Term||31 days||90 days||30 days (extendable)|
|Annual Percentage Rate (APR)||304%–391%||304%–391%||18%–30%|
|Bad Credit Score Accepted||Yes||Yes||Yes|
|Get Started||Get Started||Get Started|
Can I Get a No Credit Check Payday Loan in Jacksonville, FL?
Here at LenderMill, we only partner with licensed payday loan companies that assess potential borrowers only on their ability to repay their cash advance, placing less weight on their credit history. If bad credit has previously stood in the way of you accessing credit from traditional lending institutions like banks, you don’t have to worry with LenderMill lenders.
Provided that you are a Jacksonville, FL resident with a regular income of at least $1,500 after-tax, you’re eligible for a no credit check payday advance.
Is LenderMill a Lending Company?
No, we don’t offer direct lending. Instead, we are a matching service that connects any borrower looking for payday advances, title loans, or installment loans with credit providers.
Our network consists only of credible and reliable lenders offering the most competitive interest rates and flexible repayment terms to ensure you get the money you need, even with bad credit. All the lenders in our network of providers are licensed to operate in the sunshine state under the Deferred Presentment Statutes.
How Much Does It Cost to Use LenderMill?
While several other brokers in Jacksonville, FL, charge a fee for their matching services, we don’t. Our platform is 100% free to use. Once you complete the secure loan application form on our website, we match you to trusted lenders in your area at no cost whatsoever.
If you like the terms of the cash advance and proceed to borrow from the lender we match you with, we receive a small commission from the company. That’s what keeps our financial services running.
Are Cash Loans Legal in Jacksonville, FL?
Payday lending is legal in Jacksonville and everywhere else in Florida. It is governed by Section 560.401-560.408 of the Deferred Presentment Statutes, each covering a wide range of areas. Some notable limitations include defining the maximum loan amount for single-payment and installment payday advances, the maximum finance charges that can be levied on cash advances, and the maximum repayment term for each loan type.
All payday lending activities are logged in the Florida Deferred Presentment Transaction System. This database allows state regulators from the Office of Financial Regulation to monitor all payday transactions conducted in Jacksonville and other areas in the state.
What Is the Maximum Loan Amount I Can Borrow?
Florida payday lending regulations cap the maximum amount Jacksonville residents can borrow at $500 for single-payment payday advances. If you’re taking out an installment cash advance instead, the maximum amount you can borrow is $1,000.
What Are the Finance Costs of Jacksonville Payday Loans?
According to the existing statutes in the sunshine state, the finance charge imposed by lenders cannot exceed 10% for every $100 borrowed in single-payment loans. On the other hand, the finance cost for installment loans stands at 8% on the outstanding balance. Additionally, there’s also a $5 verification fee for both.
What Is the APR on Jacksonville Payday Loans?
Here’s how to calculate the annual percentage rate (APR) on payday advances in Jacksonville, FL.
Suppose you take out a $100 single-payment cash advance with a repayment period of 14 days. The finance charge, in this case, would be 10% of the $100 borrowed. When you factor in the $5 verification fee, the total cost of the loan would be:
10% $100 = $10 + $5 = $15
To compute the APR:
$15 $100 = 0.15 14 days = 0.0107 365 days = 3.91 100 = 391% APR
According to the Center for Responsible Lending, the average APR for a $300 loan in the state stands at 304%.
What Happens if I Repay My Cash Advance Early?
The payday lenders in our network of providers do not penalize borrowers who wish to settle their loans before the due date. You can pay back the amount you owe at any time without incurring prepayment penalties. Keep in mind that doing so does not exempt you from the finance charges.
Can I Get a Paycheck Advance in Jacksonville With Bad Credit?
Yes, you can get a payday loan in Jacksonville with a poor credit rating. The lenders on our panel do not reject a potential borrower's loan eligibility based on their bad credit rating. Instead, they assess your ability to repay the loan. If you are at least 18 years old, a resident of Jacksonville, FL, and have a stable monthly income amounting to $1,500 or more after-tax, you qualify for a cash advance, regardless of your credit score.
How Long Does It Take to Get the Money?
Once you complete the secure online form with the requested information, we typically take a few hours to verify your details before matching you with the most suitable lender. During our search, we focus on finding a lender who best meets your financial needs and is most likely to approve your request with the most affordable rates.
As soon as the lender approves your application, you’ll need to sign a digital agreement consenting to the repayment terms. After that, the money will be transferred to your checking account as soon as 24 hours.
What Is the Maximum Loan Term?
Borrowers who take out single-payment payday loans online have up to 31 days to repay the cash advance. If you're taking out an installment loan, the maximum repayment term for the amount is 90 days. Note that Florida law prohibits rollovers should you fail to pay back the balance by the time the due date comes around.
Can I Apply for More Than One Cash Advance at the Same Time?
No, Florida state laws do not permit borrowers to take out more than one loan simultaneously. In other words, you can only have one outstanding loan at any given time. You’re required to pay your current loan back before applying for a second one. Keep in mind that there’s a mandatory 24-hour cooling-off period between applications, meaning you cannot request a cash advance until this period elapses.
What Are the Payday Loan Alternatives in Jacksonville, FL?
The existing regulations place a $500 cap on single-payment cash advances and a $1,000 cap on their installment counterparts. While these amounts may suffice to sort out a short-term financial issue, they might not be adequate if your particular situation calls for more cash.
A great payday loan alternative to consider would be a title loan. The amounts you are entitled to depend on the value of the asset you intend to put up as collateral, such as your house or car. Additionally, if you’re looking for a cash advance alternative that gives you a slightly longer repayment period, applying for installment loans or personal loans might be worth looking into.