Payday Loans & Cash Advances in
Plantation, FL, USA

Payday Loans in Plantation, FL: What Broward County Residents Should Consider

When financial emergencies strike in Plantation, payday loans may appear as a quick solution. However, these short-term, high-interest loans often trap borrowers in cycles of debt that can be difficult to escape. This guide explains Florida's payday lending laws, reveals the true costs, and presents safer alternatives for Plantation residents.

Florida's Payday Loan Regulations

Plantation lenders operate under Florida's Deferred Presentment Act, which includes:

• Maximum Loan Amount: $500

• Loan Term: 7-31 days (typically until next paycheck)

• Finance Charge: 10% of loan amount ($50 max on $500 loan)

• APR: Approximately 304% for 14-day loan

• Cooling Off Period: 24 hours required between loans

• No Rollovers: Extensions prohibited (but new loans allowed after payoff)

Florida maintains a statewide database to prevent borrowers from having multiple payday loans simultaneously.

Where to Find Payday Loans in Plantation

Licensed lenders in Plantation include:

• Amscot (8019 W Broward Blvd)

• Check Into Cash (11051 W Broward Blvd)

• Advance America (1843 N University Dr)

Important: Always verify lenders are licensed with the Florida Office of Financial Regulation.

The True Cost of Payday Loans

A typical $500 payday loan carries significant costs:

• Initial Fee: $50 (10% of $500)

• Total Repayment: $550 after two weeks

• Effective APR: 304%

• Potential Bank Fees: $35+ NSF fees if payment fails

The Consumer Financial Protection Bureau reports most Florida payday loan borrowers take out 8+ loans per year.

Better Alternatives for Plantation Residents

1. Credit Union Solutions

• Power Financial Credit Union offers Payday Alternative Loans

• JetStream Federal Credit Union emergency small-dollar loans

• Sunshine State Credit Union personal installment loans

2. Community Assistance Programs

• Plantation Cares (city-run emergency assistance)

• Feeding South Florida (Broward location)

• Salvation Army of Broward County crisis aid

3. Employer-Based Options

• Paycheck advances (common at Sawgrass Mills employers)

• Earned Wage Access programs (DailyPay, PayActiv)

• 401(k) loan options (last resort)

4. Side Income Opportunities

• Retail/hospitality jobs at Sawgrass Mills

• Corporate jobs in Plantation's business parks

• Gig economy (Uber, DoorDash) in western Broward

Florida's Borrower Protections

Key safeguards include:

• Statewide database prevents multiple loans

• Mandatory payment plan option

• Right to cancel by next business day

• Clear disclosure requirements

• Military personnel APR cap (36% under federal law)

Smart Borrowing Tips

If considering a payday loan:
✔ Borrow minimum needed
✔ Avoid consecutive loans
✔ Calculate total repayment
✔ Set payment reminders
✔ Explore all alternatives first

Escaping the Debt Cycle

For those already struggling:

• Florida's extended payment plan option

• Nonprofit credit counseling (GreenPath, Apprisen)

• Debt management plans

• Legal aid services

Local resources:

• Legal Aid Service of Broward County

• Plantation Branch Library financial literacy programs

The Bottom Line

While payday loans provide quick cash, their high costs make them risky for Plantation residents. With numerous credit unions, community resources, and abundant employment opportunities in this thriving suburb, better solutions exist for financial emergencies.

Before borrowing:
✅ Contact Plantation Cares (954-797-2100)
✅ Visit Power Financial CU's financial coaching
✅ Explore United Way 211 resources

Remember: In a community with Plantation's economic opportunities, payday loans should always be a last resort. Building even a small emergency fund can prevent most payday loan needs.