Fast Online Payday Loan [ MIAMI GARDENS ]
Possible types of loans:
- $100, $200, $300, $400, $500, $600, $700, $800, $900, 1000 dollars are emergency payday loans in Miami Gardens 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 – Miami Gardens, 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 Miami Gardens, 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 :: Miami Gardens Florida Direct Lenders (list of offline stores and agencies nearby)
| Company | Address | Phone |
|---|---|---|
| ACE Cash Express | 4684 NW 183rd St, Miami Gardens, FL 33055 | +1 305-620-8403 |
| Amscot – The Money Superstore | 19839 NW 2nd Ave, Miami Gardens, FL 33169 | +1 305-521-0906 |
| OneMain Financial | 18355 NW 57th Ave #104-A, Miami Gardens, FL 33055 | +1 305-907-7746 |
| Pawns By Us | 19948 NW 2nd Ave, Miami Gardens, FL 33169 | +1 305-651-4653 |
| Space Coast Credit Union | 17650 NW 2nd Ave, Miami Gardens, FL 33169 | +1 305-882-5000 |
| King Cash Pawn & Jewelry | 4721 NW 183rd St, Miami Gardens, FL 33055 | +1 305-625-0031 |
Find Creditor Location Using Map
About Cash Advances, Payday Loans & Installment Loans
Facing a financial emergency in Miami Gardens can feel overwhelming. Whether it’s an unexpected car repair on I-95, a medical bill, or a gap between paychecks, the need for quick cash is real. For residents of our community, understanding the difference between payday loans, cash advances, and installment loans—and the specific laws that govern them in Florida—is the key to making a decision you won’t regret.
This guide will break down your options, the high costs involved, and the local alternatives available to you.
Cash Advances in Miami Gardens
A payday loan is a small, short-term, high-cost loan designed to be repaid in a single lump sum on your next payday. In Florida, they are legally known as Deferred Presentment Transactions.
Key Features & Florida Regulations:
- Loan Amounts: You can borrow between $50 and $500 per loan.
- Loan Term: The term is typically 7 to 31 days (until your next paycheck).
- Fees and Costs: Florida law sets maximum fees:
- $10 per $100 borrowed for loans up to $250.
- $8 per $100 borrowed for loans between $251 and $500.
- While the flat fee seems manageable, the Effective APR (Annual Percentage Rate) is extremely high—over 300% for a typical two-week loan.
- Database Tracking: Florida operates a statewide database to enforce a 24-hour cooling-off period between loans and to prevent consumers from having more than one outstanding payday loan at a time.
- No Rollovers: A lender cannot allow you to “roll over” or extend a payday loan. If you cannot repay, they must offer you a 60-day extended payment plan at no additional cost.
Where to Find Them:
- Storefront locations on NW 27th Ave, NW 183rd St, and other commercial corridors.
- Online lenders (ensure they are licensed to operate in Florida).
Pros and Cons:
- ✅ Pros: Quick access to cash, minimal credit checks.
- ❌ Cons: Extremely high effective APR, small loan amounts, can easily trap you in a cycle of debt if not managed perfectly.
Installment Loans in Miami Gardens
An installment loan provides a larger sum of money that you repay over a longer period (months or years) with a set schedule of fixed, regular payments.
Key Features & Florida Regulations:
- Loan Amounts: Typically range from $1,000 to $50,000+, depending on your credit and the lender.
- Loan Term: Can range from a few months to several years.
- Interest Rates (APR): Your rate is based heavily on your credit score and the lender’s policies. Florida does not have a strict APR cap for all installment loans, so rates can vary wildly.
- Good to Excellent Credit (660+): May qualify for rates from 6% to 24% APR from banks or credit unions.
- Fair to Poor Credit (below 660): Rates can be significantly higher from subprime lenders, often ranging from 25% to over 100% APR.
- Repayment: Fixed monthly payments make budgeting easier.
Where to Find Them:
- Banks and Credit Unions: (e.g., Tropical Financial Credit Union, Space Coast Credit Union, Chase, Bank of America). These often offer the best rates.
- Online Lenders: (e.g., Upstart, LendingClub, OppLoans).
- Specialized Installment Loan Storefronts.
Pros and Cons:
- ✅ Pros: Larger loan amounts, longer repayment terms, lower potential APRs than payday loans, can help build credit.
- ❌ Cons: Requires a credit check, poor credit leads to very high rates, may have origination fees.
Florida Law: Key Protections for Borrowers
The Florida Office of Financial Regulation (OFR) enforces rules for payday loans:
- Database: Prevents multiple loans and enforces a cooling-off period.
- Extended Payment Plan: Your right to a 60-day, no-cost extension is a crucial protection.
- Licensed Lenders: Always verify a lender is licensed by the Florida OFR.
Smart Alternatives for Miami Gardens Residents
Before committing to a high-cost loan, explore these local and accessible alternatives:
- Local Credit Unions: Tropical Financial Credit Union has branches in the area and often offers small, short-term loan products with far better terms than payday lenders. They are member-focused and may be more willing to work with you.
- Payment Plans: Contact your healthcare provider, auto repair shop, or utility company (like FPL) directly. They often have hardship programs or can set up an interest-free payment plan.
- Community Assistance: Organizations like Miami Gardens Community Resource Center, Catholic Charities, or Salvation Army may offer emergency assistance with rent, utilities, or food, freeing up your cash for other bills.
- Side Gig Economy: Use a skill or your spare time through apps like Uber, Lyft, Instacart, or TaskRabbit to generate quick income.
- Payment Advance Apps: Apps like EarnIn or Dave allow you to access a portion of your earned wages before payday for a small optional fee, which is much cheaper than a payday loan.
Final Thoughts and Advice
- Payday loans are a last resort. Florida’s 60-day extension is a good protection, but the high cost still makes them a dangerous solution for ongoing money problems.
- Installment loans can be a better tool for larger, one-time expenses if you have a solid repayment plan and can qualify for a reasonable rate.
- Always exhaust cheaper alternatives first. Your local credit union and community organizations should be your first stop.
- Read every line of the contract. Understand all fees, the APR, and the payment schedule before you sign.
If you are struggling with debt, seek free and confidential help from a non-profit credit counseling agency like GreenPath Financial Wellness or ClearPoint Credit Counseling.
