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Installment Loans in Graham, FL (Near You) Online or in Store
Loans for any reason ($100 - $35,000):
If you need to borrow a larger sum of money you might usually turn to the bank, but if you have bad credit that might not be an option.
Fortunately, in Graham, FL, dedicated lending stores can issue installment loans in-person and online, and they often cater to those with bad credit scores.
In Florida, you can legally borrow between $1,000 and $5,000 with installment loan terms, which means the loan is repaid over multiple months with a regulated interest rate. Installment loans are ideal for those that wish to borrow more than payday loans can provide.
Below we've created a directory of licensed installment loan providers in Graham, so you can find your nearest lender or a suitable online lender today.
Graham installment loan law
If you live in Graham and want to take out an installment loan you are protected by Florida state law, which limits the amount you can borrow, the duration of the loan, interest rates, and other terms.
Our directory only features lenders that adhere to these regulations and have good feedback from borrowers in Graham, FL.
We list only direct lenders and if they offer online applications, they must use encryption to protect your data.
If you use our loan connection tool to quickly attempt to connect with an online lender we promise not to pass-on or sell your info to lenders outside the intended use.
Related services in Graham, Florida:
What are installment loan terms in Graham, Florida?
As per Florida lending laws, lenders can only issue installment loans to the sum of $1,000 to $5,000 - below this amount and the terms follow payday lending regulations, and over this amount, they are recharacterized as personal loans, with different regulations.
Installments loans can be issued for a minimum of 3 months or a maximum of 36 months, which will depend on the borrower's financial situation, the amount they wish to borrow, and the lender's assessment of the application.
If you use our loan connection tool you can select your desired amount and if connected with a lender, they will aim to offer you as close to this sum as reasonable.
The main benefit of installment loans over payday loans is that you have more time to make repayments, allowing you to pay for bigger issues like house renovation or car repairs, traveling or the purchase of high-ticket items.
Of course, you should never use a loan to pay off existing debt (unless it is a designated debt consolation loan), but lenders will not necessarily ask why you are applying so it's important to be honest with yourself when you make an application.
What is the Graham installment loan interest rate?
In Graham installment loans are given an interest rate called the annual percentage rate (APR).
This is simply the percentage of the principal (the amount borrowed) that you would need to pay extra if the loan was outstanding for 12 months (i.e. annually).
The amount you pay each month is therefore roughly one-twelfth of this. You should not worry about this too much as the lender must set out the repayment schedule and the cost (plus interest) of each installment before you sign the agreement, so you will know if you can afford it or not before you take on the loan.
Florida state law states that the APR on an installment loan will not be below 6.63%, while you cannot be charged more than 18%. Your actual rate will depend on the market, the individual lender, and their assessment of your application.
Lenders are also permitted to charge a one-off fee on top of the interest when you take out a loan, but this will be made clear to you when applying.
Loans for any reason ($100 - $35,000):
Are installment loans unsecured in Graham?
In Graham, FL, installment loans are unsecured, which means no collateral is required as security on your repayment.
I.e. you do not have to agree to hand over your home or high-value items if you fail to repay. You also are not required to use a guarantor if you have a bad credit rating and those with poor credit histories are routinely approved for reasonable installment loan sums in Graham.
Online installment loans in Graham, (FL)
Applying for installment loans online is becoming increasingly popular in Graham because it's fast and easy and you could receive the money in your bank account in as quickly as one working day.
Our database of online Graham lenders is all licensed to lend installment loans to Graham citizens. Simply browse the directory yourself or use or simple loan matching form and we will pas you through the network and attempt to connect you with a lender in minutes.
This saves you the time and hassle of having to travel to a storefront lender and fill out physical paperwork. It also means you don't have to apply online one-by-one, saving you even more time and preventing the risk of multiple searches on your credit report.
If you are connected, the rest of the application is completed directly on the lender's website, which should only take a few more minutes if you have digital copies of your bank statements and other info to attach to the application.
Graham installment loans are available for the following zip codes: 32042.
Graham installment loan requirements
- Do you have a fixed address in Graham where you can be reached?
- Are you at least 18 years of age or older?
- Do you have a social security number?
- Are you employed or otherwise making a stable income of at least $1,000, monthly?
- Do you have a bank account with basic checking facilities?
If you said yes to all these points then you can get started today, and you could see between $1,000 and $5,000 in your account tomorrow.
Note: While we do our best to vet the lenders in our directory, always beware of misleading language like ‘instant' or ‘guaranteed approval' or promises of ‘no credit check'.
While it is true that applying online is fast, it can never be instant. Likewise, although lenders routinely approve bad credit borrowers, that doesn’t mean a credit check won’t be carried out.