Fast Online Payday Loan [ HOLLYWOOD ]
Possible types of loans:
- $100, $200, $300, $400, $500, $600, $700, $800, $900, 1000 dollars are emergency payday loans in Hollywood Florida USA, which are issued for a period of 1, 2, 3 or 4 weeks (until your next salaries).
- $1500, $2000, $2500, $3000, $3500, $4000, $4500, $5000 – Hollywood, FL installment loans that can be taken out for terms of up to 2 years (most often 1, 6, 9, 12 or 3 months).
To get fast online cash advances (payday or personal loans, short-term loans, fast cash) with instant approval in Hollywood, FL, USA, use our simple 5-minute application form! The money will be credited to your bank account within 24-48 hours (or faster) after approval.
Cash Advance Near Me :: Hollywood Florida Direct Lenders (list of offline stores and agencies nearby)
| Company | Address | Phone |
|---|---|---|
| Advance America | 1735 N Federal Hwy Unit 103, Hollywood, FL 33020 | +1 954-920-2853 |
| Advance America | 6107 Hollywood Blvd, Hollywood, FL 33024 | +1 954-893-5440 |
| Solid Ground Financial | 4000 Hollywood Blvd Ste 635S, Hollywood, FL 33021 | +1 877-785-7817 |
| Oportun | 6711 Taft St, Hollywood, FL 33024 | +1 754-229-2517 |
| OneMain Financial | 502 N University Dr, Hollywood, FL 33024 | +1 954-431-1393 |
| Sunshine Title Loans | 3201 N State Rd 7 Suite B, Hollywood, FL 33021 | +1 954-834-5436 |
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About Payday Loans in Hollywood Florida
Financial emergencies can happen to anyone in Hollywood, FL. Whether it’s an unexpected car repair on US-1 or a medical bill, you might be considering a short-term cash solution like a payday loan. Before you do, it’s crucial to understand the minimum requirements and the specific terms you’ll encounter under Florida law.
Minimum Requirements for a Payday Loan in Hollywood, FL
It is important to first understand that traditional, single-payment payday loans are effectively illegal in Florida. The state’s Deferred Presentment statute does not allow for a loan that is due in full on your next payday. Instead, what is commonly advertised as a “payday loan” is technically a short-term installment loan.
To qualify for one of these small-dollar, short-term loans in Hollywood, FL, lenders will typically require you to meet the following minimum criteria:
- Age and Residency: You must be at least 18 years old and provide proof of being a U.S. resident or citizen. Lenders will require a valid, government-issued photo ID, such as a Florida driver’s license or state ID card.
- Proof of Income: You must demonstrate a reliable source of income. This is not limited to traditional employment; lenders may accept proof of income from benefits, pensions, or regular deposits. Recent pay stubs, bank statements, or benefit award letters are commonly required.
- Active Bank Account: You must have an active checking account in your name. This is used for depositing the loan funds and, crucially, for authorizing electronic withdrawals for your scheduled payments.
- Contact Information: You must provide valid contact details, including a working phone number and email address.
Meeting these minimum requirements makes you eligible, but it does not mean the loan is a good financial decision. It is essential to understand the terms before proceeding.
Terms of Short-Term Loans in Hollywood, Florida, USA
The terms for short-term loans in Hollywood are specifically defined by Florida law, which offers some consumer protections but still allows for high costs.
- Loan Amounts: The amount you can borrow is typically small, often ranging from $100 to $500.
- Repayment Structure: Despite being called “payday” loans by storefronts, they are legally structured as installment loans with multiple payments. You will repay the loan over a period of several months, not in a single lump sum.
- Fees and Costs (The Most Important Detail): Florida law allows lenders to charge the following maximum fees for these small loans:
- A 10% acquisition fee on the principal amount.
- Plus a monthly fee of 8% on the principal.
- Example: For a $500 loan held for 3 months, the cost would be a $50 acquisition fee + $120 in monthly fees (3 x $40). You would repay $670, with $170 paid purely in fees.
- Annual Percentage Rate (APR): When calculated annually, these fees result in an extremely high APR, often exceeding 200% depending on the loan’s duration. This is the true cost of borrowing.
- Right to Cancel: Florida law provides a right of rescission. You can cancel the loan agreement without penalty by the end of the next business day by returning the full principal amount.
- Database: Lenders must use a state-run database to track loans and prevent consumers from having more than one outstanding short-term loan at a time.
