When you need cash quickly and can’t afford to wait until your next check, sometimes a payday loan is the only way to go. In this type of short-term, unsecured loan, the lender essentially gives the borrower an advance on an upcoming paycheck in exchange for principal plus a high fee. To help you understand these loans and find a respectable lender, our partners at ConsumerAffairs researched the best payday loans in Fort Myers.
Payday loans have high fees with lender rates upward of 400 percent. That’s why it’s recommended to always consider less-expensive alternatives first, such as borrowing from a credit union, asking creditors for extensions or seeking loans from family or friends.
If these aren’t practical options, payday loans do have appealing features. It’s easy to apply and qualify — even with poor credit — and the money has no restrictions. Cash is sometimes available on the same day, even if you apply online. If you go into a payday loans company in Fort Myers, you could walk out with hundreds of dollars within minutes.
The maximum fee is 10 percent of the borrowed amount plus a $5 verification fee.
The loan term must be between seven and 31 days.
Loans cannot be rolled over into new loans; a borrower must pay a previous loan in full and wait 24 hours before entering into a new loan.
There are both online-only payday loan lenders and companies that have a physical presence in Fort Myers. Payday loan requirements include a government-issued ID, proof of income and an open and active checking account.
When looking at lenders in Fort Myers, start by comparison shopping for low-interest rate payday loans with minimum penalties. You should only borrow what you can afford to pay back. Still, if at the end of the term you are unable to repay the loan, the lender must offer a 60-day grace period with no additional charges, as long as you make an appointment with a credit counselor. You can’t be arrested for defaulting on a payday loan in Fort Myers.
CashNetUSA is an online lender offering same-business-day payday loans in Fort Myers. Over 3 million customers have borrowed from CashNetUSA since 2004. An in-house customer service team is available seven days a week to answer questions. The company also provides a savings program and financial education courses. Many customers give CashNetUSA five-star reviews and recommend it for payday loans.
Fast Payday Loans
Fort Myers residents needing a payday loan up to $500 can get competitive rates with Fast Payday Loans. The simple application starts online and finishes at one of Fast Payday Loans’ area locations. All you need is a state-issued ID, a blank check from an active checking account and your most recent pay stub. Fort Myers reviewers say the staff is exceptional and the lending process is fast.
The Check Cashing Store
The Check Cashing Store is a trusted Florida company with over three decades of lending experience. Customers can apply for a payday loan online or in person and get same-day cash. Multiple locations are available for Fort Myers-area residents. Reviewers say getting a payday loan between $100 and $500 from The Check Cashing Store is effortless and takes little time.