Knowing when and where to apply for a cash advance is an important factor for Florida residents to consider. This is true if you live in the state year-round, or simply spend time in the state for work or when on vacation.
There are many different reasons an individual may need cash between paydays. Some of the most common include medical emergencies, even for those with insurance, as well as car repairs and other types of unexpected expenses.
By choosing a payday loan, which may also be called a cash advance or a short-term loan, Florida borrowers can have immediate access to up to $500 in cash for a flat fee that is provided up front, allowing full transparency on the cost of the loan.
Immediate Cash
Banks and other lenders may take days for approval on loans. Additionally, many lenders do not provide loans to those with low credit scores or with thin credit files. Thin credit files occur when the individual has limited previous qualifying factors such as credit cards, loan repayment history or bill payments.
By using a cash advance service, the credit score is not considered for approval. Instead, the company uses current employment as a basis for loan approval, with the cash provided on the spot for those qualifying for the advance.
As Needed
As the goal of any payday advance is to repay the borrowed amount and fee in full with the next paycheck, it is important only to use this service as needed. With the immediate payment on the advance, this is not a concern as these loans can be applied for and received on the same day when unexpected expenses and circumstances arise.
Payday loans offer a smart alternative to high-interest credit cards or the higher loan amount minimums required by banks. They are not designed for large purchases, but they are ideal for dealing with cash flow challenges between paychecks.
