Best Payday Loan Lenders in Florida

Deferred presentment transactions, a.k.a. payday loans became legal in Florida in the 1990s. Having said that, the industry wasn’t nearly as regulated as it is nowadays. The Sunshine State is home to some prominent financial services companies, and we’ve chosen only the top-tier payday loans Florida puts on the market. Browse at your leisure.

Best Payday Loans Providers in Florida

Lending Bear Logo

Lending Bear

Cash When You Need It, Fast & Friendly!

Lending Bear operates as a sister company to Speedy Cash — one of the lenders that pioneered this industry. Their offer includes online payday loans and in-store cash advances. Their offer includes online as well as in-store payday loans. An excellent score (4.9/5) on Google Reviews and an A+ rating on the Better Business Bureau solidifies their spot among the best payday loan brands in the US.

Loan amount range: $100 to $500

Loan term: 10 to 31 days

APR: 456% for a 14-day loan

Min. credit score: N/A

Fees: $17.5 per $100 borrowed

Approval time: Almost instant

Funds available in: Same or next business day

Number of Alabama stores: 3

Online application: Yes

24/7 open: No

Check into Cash Logo

Check into Cash

Your One Stop Money Shop

A true trailblazer, Check into Cash is among the best payday loans providers out there. The company was established in 1993, and they operate over 800 stores across 20 states. It is a well-established brand with numerous storefronts, which is quite reassuring to many customers. On the downside, they do run credit checks on new customers.

Available in: AL, AK, CA, DE, FL, HI, ID, IN, KS, MS, MO, NV, OK, OR, TN, TX, UT, WA, WI, and WY

Loan amount: $50-$1,000 (some states might have a lower cap)

Loan term: 14-30 days

APR: Depends on the loan term (261-782%)

Min. credit score: 300

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

The Check Cashing Store

The Check Cashing Store

FAST CASH WHEN YOU NEED IT

This brand is widely recognized in the Sunshine State, making them a prime choice for obtaining Florida payday loans. Their services are available in-store and via mobile apps on both Android and iOS. One thing is certain, the Check Cashing Store will always be there to answer your needs.

Loan amount range: $100 to $500

Loan term: 7 to 31 days

APR: 286% to 390% for a 14-day loan

Min. credit score: N/A

Fees: 10% of the principal amount + $5 verification fee

Approval time: Almost instant

Funds available in: Same or next business day

Number of Florida stores: 69

Online application: Yes

24/7 open: No

Advance America

Advance America

Money today, momentum tomorrow.

One of the industry pioneers, Advance America has been in business since 1997. With over 1,400 physical stores across the continent and millions of clients served, Advance America offers some of the top payday loans on the market. They run a full-disclosure, no-nonsense kind of business where the customer always comes first.

Available in: AL, CA, CO, DE, FL, ID, IL, IN, IA, KS, KY, LA, MI, MS, MO, NE, NV, OH, OK, RI, SC, TN, TX, UT, VA, WA, WI, WY

Loan amount: Up to $1,000 (some states have a lower cap)

Loan term: 2-4 weeks

APR: Depends on the loan term (231-495%)

Min. credit score: N/A

Approval time: Almost instant

Funds available in: Same or next business day

Online application: Yes

Amscot Cash Advance Logo

Amscot Cash Advance

You're OK With Us!

Amscot is one of the leading non-bank financial brands in Florida. The first storefront was opened in 1989 in Tampa. Among other services, they offer top-notch Florida payday loans at very competitive rates. Forbes Magazine named them one of the best midsize employers for 2017.

Loan amount range: $50 to $500

Loan term: 7 to 31 days

APR: 271% to 365% for a 14-day loan

Min. credit score: N/A

Fees: 10% of the loan amount + $2 verification fee

Approval time: Almost instant

Funds available in: Same or next business day

Number of Florida stores: 171

Online application: Yes

24/7 open: Yes, but only some locations

Florida Payday Loans Laws

What follows is a summary of the main regulations covering payday loans in the Sunshine State. While some of the rules are similar to those in other states, Florida also has some specifics, most notably, a requirement for lenders to check a special database before issuing a loan.

State Law

Payday Loan Requirements in Florida

Bad Credit Payday Loans in Florida

Payday cash advances were designed to serve people with no credit history or a below-average credit score. It should be relatively easy to obtain a loan despite the possible bad credit.

Failing to Repay a Payday Loan in Florida

The state law in Florida prohibits criminal charges against borrowers. Lenders aren’t allowed to threaten you with jail time and should be reported if they do so. On the other hand, you could be taken to civil court, which could lead to further fines or wage garnishment.

Reviews of the Best Payday Loans in Florida

Lending Bear

Lending Bear is a state-licensed brand in the Sunshine State. While not as widely available in Florida as some of the other companies on our list, their services don’t fall behind the rest. They are licensed by the State of Florida Office of Financial Regulations.

Pros

Cons

Lending Offer Overview

Lending Bear offers some of the best payday loans in the entire country. The services they offer are top-of-the-line, making them a safe choice for payday loans in Florida. The loan amount is standardized and ranges between $100 and $500, while the repayment duration caps out at 31 days. Florida residents need to pay a fixed $5 verification fee plus 10% of the principal amount. The APR is closely linked with the loan’s duration and the finance charges, going from  286% to 391% for a 14-day loan. Rollovers aren’t allowed, and there is a 24-hour cooling-off period between two consecutive loans. There is a 60-day grace period for Florida residents who are unable to repay their loans on time.

Other Features

This brand offers in-store cash advances and online payday loans for Florida residents. As one would expect, the application process is swift and simple to complete. Despite your credit score, you’ll be granted a loan in a matter of minutes, provided that the other conditions are met. They have top-notch customer support, assuring the best possible treatment. All things considered, Lending Bear is an excellent choice for a payday loan in the Sunshine State.

Check into Cash

Check into Cash has been a trusted lender in the Sunshine State since 2000. They offer in-store services in addition to Florida payday loans online. The only downside is that this vendor has just three storefronts in the entire state. Check into Cash is licensed by the State of Florida Office of Financial Regulations.

Pros

Cons

Lending Offer Overview

Check into Cash has the fewest storefronts in the state. However, that doesn’t diminish the quality of their services. Apart from in-store loans, they provide some of the best payday loans online Florida has to offer. Their terms and fees meet all the state’s standards. This is what they have on the menu — the loan will always reach maturity in 31 days since rollovers aren’t allowed. Customers can borrow between $50 and $500, while the finance charge is set at 10% of the loan amount with an added $5 verification fee. Speaking of fees, the APR starts at 286% and goes up to 391% for a 14-day cash advance. Rolling a loan over isn’t allowed, and taking two consecutive advances is impossible because of a 24-hour cooling-off period. Lastly, Check into Cash offers a 60-day grace period for consumers who cannot repay the loan on time.

Other Features

Keeping pace with the industry’s standards, this vendor provides same-day cash advances to in-store applicants. Clients opting for an online application will, regrettably, need to wait a while longer (up to one business day). Floridians will need only a couple of minutes to complete the application. The entire process became even simpler when Check into Cash introduced a handy mobile app. It is an excellent way of managing your accounts and funds on the go. Their remarkable customer support is another noteworthy feature, making them one of the best vendors for both online cash advances and in-store Florida payday loans.

The Check Cashing Store

The Check Cashing Store is widely available throughout the Sunshine State. Customers can obtain their services at one of their 69 brick-and-mortar stores or choose to do so online. This brand is licensed by the State of Florida Office of Financial Regulations.

Pros

Cons

Lending Offer Overview

The Check Cashing Store is a brand with several decades worth of experience, and an astonishing number of their clients are pleased with their services. The services they provide include both online cash advances and in-store payday loans in Florida. Their offer comes in the following form – the loan amount ranges between $100 and $500 (online) or $50 and $500 (in a store), while the term is up to 31 days. The finance charge is following the state law totaling 10% of the loan amount with an added $5 verification fee. To put things into perspective, this boils down to an APR of 286% to 390% based on a two-week loan. It is important to emphasize that neither rollovers nor consecutive loans are allowed in the Sunshine State. On the bright side, each lender is obliged to offer a 60-day grace period for clients who cannot repay on time.

Other Features

This vendor prides itself on consistently meeting customer demands and guaranteeing customer satisfaction. Apart from offering excellent payday loans in Florida online, they also strive to make things as convenient as possible. Their clients are usually approved within minutes regardless of the application form they choose. Residents can further use their mobile app (available on Android and iOS), providing all the essential information about this lender. Finally, if you have any additional questions, feel free to reach out via email or by phone.

Advance America

Advance America is probably the most readily available lender in the whole US, and this certainly holds for Florida. Their clients can get loans online or at one of Advance America’s 193 storefronts available statewide, which makes them one of the best options for payday loans Florida has in store. This vendor is licensed by the State of Florida Office of Financial Regulations.

Pros

Cons

Lending Offer Overview

Being the most readily accessible lender in the entire state, Advance America has a reputation to uphold. They have been active in Florida since 1997 and boast a near-perfect track record. Their offer follows all the industry standards, and this is what you might expect. Floridians who choose their services will be able to borrow between $100 and $500 with a 31-day repayment term. The fee is nothing out of the ordinary, amounting to 10% of the check with an added $5 verification charge. The APR stands between 133% and 391%, the difference being in the loan’s duration. Payday loans Florida laws prohibit rollovers, which means that the entire amount needs to be repaid once the loan reaches maturity. On the other hand, customers who cannot reimburse the whole amount might be granted a 60-day grace period to settle the debt.

Other Features

Obtaining a loan with Advance America is simple and straightforward. The application process can be completed in three ways — over the phone, in person, or online. In any event, the entire process takes less than 15 minutes. The customer always comes first might be a cliche nowadays. However, Advance America puts their money where their mouth is. All in all, you won’t make the wrong choice regardless of the loan you opt for. Both the in-store product and online payday loans Florida offers with this lender are excellent.

Amscot Cash Advance

Amscot takes close second place in terms of accessibility, as you can find their stores at a whopping 171 locations across the state. What’s more, their fees are the lowest in the state. This lender is licensed by the State of Florida Office of Financial Regulations.

Pros

Cons

Lending Offer Overview

Amscot Cash Advance is a well-established lender that endeavors to meet every customer’s need. They’re always trying to up the ante and create higher industry standards. Florida online payday loans are available with this vendor, as well as in-store cash advances. The offer is almost identical to their competitors. However, there is a notable difference. This lender has the lowest fee in the entire state, which is 10% of the loan amount plus a $2 verification charge. Irrespective of your decision (in-store or online), you’ll be able to borrow between $50 and $500. The minimum loan term is 7 days, and the upper limit is 31 days. Taking the loan’s duration and the combined fees into account, we get an APR of 271%-365% for a 14-day loan. The option to roll over a loan in Florida isn’t available, although customers unable to repay on time are granted a 60-day grace period to pay off the debt.

Other Features

Amscot was founded in Florida, making them acutely aware of their countrymen’s needs. They don’t think of themselves as another financial service company but as a part of the neighborhood. Being mindful that emergencies can strike at any time of the day, they always keep some storefronts open 24/7. You can further expect only the best customer support from this lender.

Essential Payday Loans Florida Statistics

The lending industry is still going strong in Florida. Despite the ongoing COVID-19 pandemic and the economic downturn, they’re doing their best to keep stores open. Stats show that the industry hasn’t experienced a significant decline in the number of clients despite the current situation. 

 

Year Number of Stores Number of Clients Number of Loans in Millions Fees Displayed in Millions Value of Loans in Billions
2016 1,094 987,500 $7.9 $313 $3.2
2017 923 974,684 $7.7 $306 $3.1
2018 945 897,436 $7.0 $280 $2.8
2019 971 887,500 7.1 $289 $2.9
2020 862 890,625 5.7 $258 $2.4

 

FAQ

How many payday loans can you have in Florida?

You can have only a single payday loan at a time. Residents who want to take another loan will have to wait 24 hours after repaying the initial one.

Can you have 2 payday loans at once in Florida?

It is illegal to have more than one outstanding payday loan in Florida.

Are internet payday loans legal in Florida?

Yes, online payday loans in Florida are legal.

Am I on the payday loans database in Florida?

Every lender is obliged to enter each transaction into the state database. Meaning that your name will be in the system if you have any outstanding payday loans.

What is the statute of limitations on payday loans debt in Florida?

The statute of limitations on unpaid debt is 5 years in Florida. This means that a lender can attempt to collect any outstanding debt for 5 years.

Are payday loans legal in Florida?

Yes, they are regulated by the Office of Financial Regulation.

Can payday loans garnish your wages in Florida?

Wage garnishment is legal in Florida. However, some limitations apply. If you are the head of the family (any person who provides more than 50% of the support for a child or other dependant) and earn $750 per week or less, you are exempt from wage garnishment.

Can payday loans providers file criminal charges in Florida?

The state law strictly prohibits criminal charges against payday loans customers.

The Bottom Line

The Sunshine State has an excellently regulated lending industry. However, residents should always check if the vendor is licensed. Having a state license guarantees that the company will abide by the best lending practices. This is also why we prepared this list of the top providers of payday loans Florida has to offer. We hope you’ll find it helpful.

Remember to always borrow responsibly and never take out more cash than you can reasonably pay back.

Your BalancingEverything Team

References:

LendingBear

CheckintoCash

TheCheckCashingStore

AdvanceAmerica

AmscotCashAdvance

FloridaLaw

StatuteofLimitations