Why You Want An Installment Loan.
The difference between a payday loan and an installment loan is significant. With a payday loan, your lender will deposit money into your account and then take one payment in about to weeks. With an installment loan, your lender will deposit money into your account and break up the payment into multiple installments. The benefit to an installment loan is that you have more time to pay it back. In addition, installment loan interest is typically lower than a comparable Florida payday loan.
Another benefit to the installment loan over the payday loan is that you can get more money. Our lenders can offer you a loan of up to $5000 while payday loans are currently limited to $500 in the state of Florida.
If you qualify for one, an installment loan is better for getting you back on track, financially speaking. The payments are easier to fit into your budget than a payday loan. People often get into trouble with payday loans because they can not afford to make one huge payment. This leads them into the payday loan trap. This is when they continually renew the same loan, over and over again. Each time they do that, they pay a fee. It an get real expensive, really fast.
Looking for a simple $500 loan? Get information here on how to apply.
Florida Direct Lenders
Many people mistakingly think that a direct lender is going to be the best deal but this is not always the case. When you apply with a direct lender in Florida, you will come against one set of qualifications. Every lender is different in what they are looking for and find acceptable in a borrower. If you do not meet those requirements, with a direct lender, you are done.
A network of lenders is different. It is made up of lenders with a wide range of qualifications. When you apply on a network, like ours, your information will go from lender to lender until one is found that wishes to make you an offer. It increases your chance of getting a speedy approval so that you can get the money that you need.
So, if you need to get an answer to your money solution quickly, you really want to go with a network of lenders. It will not only save you time but also aggravation. This is because you will fill out only one quote form instead of potentially dozens.
Loans For Bad Credit
Can you get an installment loan if you have bad credit or are you stuck with a payday loan? Yes, in many cases, you can still get an installment loan although your interest will be higher than those with better credit. Still, an installment loan is almost always better than a payday loan. The reason for this is that an installment loan will give you more time to pay the money back and the interest is generally lower than that of a typical Florida payday loan.
So, if you have bad credit, you should still request your free loan quote for an installment loan. If approved, it will be a much better option for you than a Florida payday loan. If not approved for an installment loan, our lenders may be able to offer you other options to meet your needs.
The Truth About No Credit Checks
Lot’s of people do searches for no credit check loans but do not realize that this type of loan really does not exist. Every lender does some kind of check of a borrowers qualifications. If they did not, they would find themselves lending all of their money to non existent fraudulent borrowers.
Many lenders do use alternative sources of checking a borrowers qualifications. Not every lender will use the three major credit bureaus.
If your lender does do a credit check, they may not be looking for the same things that a major bank looks for. Lenders can often overlook some credit problems that might stop your loan with a major financial institution.
Same Day Loans In Florida
If you want the money from your loan the same day, you are generally going to be out of luck with online loans. Some lenders advertise this service but you really need to read the fine print. Most of them require that you apply for your loan very early in the morning to get proceeds from it the same day. Most borrowers apply for payday loans and installment loans later in the day so most will not qualify for same day loan funding.
Your only real option for same day funding would be to visit a local Florida payday loan store. A brick and mortar store may be able to get you the money the same day. Of course, with in person lending you have a number of negatives that you have to deal with. There is the time it takes to complete the process, including travel. There is the lack of privacy and there is the fact that you will be dealing with just one lender and once again just one set of qualifications. This may make it harder to get approved.
There is good news though. Loans will often be funded on the very next business day. Once approved, your lender will work to process your payment as soon as possible. When the loan proceeds are deposited into your account electronically they will usually be available for immediate use.
Here is more information on $300 cash loans specifically.
Lenders Based In Florida
When you apply for an online loan, not all lenders will be based in Florida. Our lending network is made up of lenders across the country. There may be a few based in Florida, but chances are good that they will be located in another state.
The good news is that it does not matter. With the internet, your lender could be across the street or across the country and everything will be handled the same way and with the same speed. There is no need to limit yourself to a small group of state based lenders when you can go national.
- Reviewed By Author
This is a review of my article and it will give you options on getting a loan in Florida. If you live in the state, you will be presented on ways to get the money you need.