Looking for an Unsecured Personal Loan in Florida?
Is work slow right now and you’re not getting enough hours or as many clients as you used to? If so, then you may be feeling a bit of a pinch in terms of your finances. You might be looking at falling behind on a utility bill, which could lead to you paying more in the long run. You might miss a car payment, and that is something the finance companies get concerned about. Instead of having your lights turned off or your car repossessed, take a look at our Loan Discovery Program and allow us to help you through this pinch.
We work with multiple lenders to find you an unsecured personal loan that fits your current situation. Need some extra cash to get you through the slow season? Loans Now can find you the best solution to support you through this period. Want to lure in some new clients and generate some revenue? A personal loan can provide you with the money you need to pay your bills and advertise your business. It only takes 60 seconds to fill out the loan discovery questionnaire — five minutes for the entire process — to get the cash you need fast!
Unsecured Loans for People with Bad or No Credit
The How It Works section explains the process of our loan-offering program. Through it, we are able to find lenders who are willing to service most situations and most credit scores, even those who have fallen behind on bills, are overwhelmed with medical debt, or having to buy a new vehicle. Bad credit is not a problem! We work with your situation, not just your number, to find the best solution. And a personal loan can be used for almost any reason, not just to get you through a temporary situation. The following may be some reasons you want to take out a loan:
- Establish or repair your credit
- Consolidate your credit card debt
- Set up an emergency fund
- Pay for a high-ticket item
- Remodel your home
- Start a side business
Having bad credit or no credit may have hindered your ability to get approved for a loan, but that doesn’t mean the slow seasons have stopped coming or the budget crunches haven’t reduced your hours. You still have need of financial assistance, and Loans now can help you — even if your credit has led to denials in the past. We can work with people who have credit scores as low as 450. If you do not know what yours is, you can find out on our check your credit score page.
Storm Recovery is Costly
Florida can be an exciting place. It has a lot going for it. Plenty of coastline with thousands of beaches, golf courses throughout the state, an enormous amount of nature for outdoor adventurers to explore, the largest concentration of theme parks in the world; the list is extensive. But that does not mean the state’s economy is in perfect shape. When storms roll in, as they do quite often over the years, parts of Florida can get hit pretty hard, and it affects the entire state.
Hurricanes can cause considerable damage to homes, properties, and lives. From a dollar perspective, this can be upwards of $100 billion! While insurance may cover the cost of rebuilding a house or replacing a vehicle, the cost of rebuilding lives is beyond its scope. When the storms destroy an entire season’s worth of oranges, a farmer may need to rely on an unsecured personal loan to recover some of the loss, at least enough to live off of. Renting a hotel or apartment, and any furniture going into the apartment, may need to be funded from a personal loan. Loans Now is available to help when Mother Nature chooses to act up.
Florida Laws and Regulations for Bad Credit Personal Loans
Florida law places a cap on interest rates applied to personal loans. The state uses a layered method of determining the limit. For the first $3,000 of the principal, 30% is the maximum rate that can be charged. Any part of the principal between $3,000 and $4,000, a rate of 24% is allowed. For the part of a loan between $4,000 and $25,000, 18% is the limit. Anything above $25,000 is outside of the scope of consumer finance and outside of the legal amount most lenders can be licensed to provide.
To prevent usury lending, Florida has also established penalties for companies or individuals who charge more than the legal maximum interest rate. While most state laws include financial penalties for conducting usurious practices, Florida includes prison sentences as further punishment based on the amount of interest charged to a borrower. It is a $500 fine and/or 60 days in jail for a lender who charges between 25% and 45% on a loan. If the lender charges over the 45% mark, they will then be charged with a 3rd-degree felony, punishable with a $5,000 fine and a 5-year prison sentence.
Loans Now: Core Policies & Procedures
- Never collect or share sensitive customer information: SSN, DOB, Address.
- Never collect up-front payment to process a customer’s loan application / or fund a loan. Loans Now will NEVER ask you to send us money in any form.
- Introduce customers to our Loan Discovery Process. A one-on-one loan service strategy that fits every customer’s unique needs with the right lender for them
Florida Personal Loan for Bad Credit Lending Regulator
In Florida, the Office of Financial Regulation monitors all non-depository service providers in the state. This is the department that issues licenses as well as conducts regular evaluations of lending companies. The Office of Financial Regulation investigates any complaints against lenders as well as initiate any legal action against a non-compliant entity if it is so deemed.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K