Single-location Miami payday lender offering cash advances up to $1,000 in as little as 30 minutes, with no credit history requirement at their SW 8th Street store.
Editorially reviewed by Harvey Brooks
Fast Payday Loans, Inc. is a storefront payday lender operating out of a single location at 2132 SW 8th Street in Miami, Florida, situated on the first floor of the Altis apartments building between 21st and 22nd Avenue. The company focuses exclusively on short-term emergency cash advances for Miami-area residents who need funds quickly and may not qualify for traditional financing.
The company offers payday loans of up to $1,000, marketed as accessible regardless of the borrower's credit history. The process begins with an online request form submitted from the company's website. A store representative then calls the applicant back to walk them through the loan process and required documentation before the borrower visits the store in person. Once at the location, an associate performs an evaluation to determine the qualifying loan amount, with the company claiming funds can be in-hand within 30 minutes of arriving. Required documents are minimal: a government-issued ID, a most recent pay stub, and an active personal checking account.
What distinguishes Fast Payday Loans, Inc. from online-only alternatives is its hybrid approach — an online intake form paired with mandatory in-store completion. The courtesy call-back before the store visit is a notable step that allows applicants to prepare documents and understand terms before committing to the trip. Saturday hours (9AM–4PM) extend access beyond the standard Monday–Friday window, which can matter for borrowers with rigid weekday work schedules.
Honestly, this is a traditional storefront payday lender with all the typical trade-offs that entails. The website discloses no APR, fees, or repayment terms — critical information any borrower should obtain before signing. The $1,000 ceiling and pay stub requirement mean this serves employed borrowers facing short-term shortfalls, not the unemployed or those needing larger sums. As with all payday products, the convenience comes at a cost that is not transparent from the available web content.
See which lenders actually approve borrowers with bad credit. We compared APRs, fees, minimum scores, and funding speed.
Yes. Fast Payday Loans, Inc. is a registered company headquartered in 4543 Gunn Hwy, Tampa, FL 33624. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Fast Payday Loans, Inc. is best suited for employed Miami residents facing an urgent, small-dollar cash shortfall who have poor credit and can visit the SW 8th Street store in person. The main caveat is that the website discloses no fees or APR, so borrowers must ask for the full cost of borrowing before signing — payday loan rates in Florida are regulated but can still be significantly high.
Diamond Banc Tampa offers collateral-based equity loans and outright purchases of fine jewelry, diamonds, and luxury watches — a premium alternative to traditional pawn shops.
Best for: Owners of high-value fine jewelry or luxury watches ($50,000+) who need fast short-term liquidity, Borrowers who cannot or prefer not to use their credit profile to qualify for a loan
ACCC is a non-profit credit counseling agency offering free consultations, debt management programs, and bankruptcy counseling to help consumers escape credit card debt.
Best for: Consumers with $6K–$100K+ in credit card debt who are still current or only slightly behind, Individuals legally required to complete bankruptcy counseling (pre- or post-filing)
Family-owned Florida pawn shop since 1986 buying, selling, and trading jewelry, guns, fishing equipment, tools, and electronics across two Tampa locations.
Best for: Individuals needing immediate cash by pawning or selling tangible assets, Gun owners and fishing enthusiasts seeking to buy, sell, or trade in their categories
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
Interest calculated on both the original amount borrowed AND the interest that's already been added. It's 'interest on interest' — and it makes debt grow faster than you'd expect.
Credit cards and many loans use compound interest. If you only make minimum payments, compound interest is why a $3,000 balance can take 15 years to pay off.
Example
You owe $1,000 at 20% annual interest compounded monthly. After month 1 you owe $1,016.67. Month 2, interest is charged on $1,016.67 (not $1,000), so you owe $1,033.61. After 1 year without payments: $1,219.
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
The Military Lending Act protects active-duty servicemembers and their families from predatory lending. Any lender charging above 36% MAPR to military is breaking federal law.
Example
A payday lender charges a $15 fee per $100 borrowed for 2 weeks. For civilians, that's technically legal in some states. For military: that works out to 391% MAPR — illegal under the MLA.
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
Usury laws are your main legal protection against predatory interest rates. But beware: some states have weak or no usury caps, and federal banks can sometimes override state limits.
Example
New York caps interest at 16% for most consumer loans (25% is criminal usury). If a lender tries to charge you 30% in NY, that loan is unenforceable — you could fight it in court.
An asset you pledge to the lender as security for a loan. If you stop paying, the lender can seize and sell that asset to recover their money.
Secured loans (with collateral) have lower interest rates because the lender has less risk. But you could lose your home, car, or savings if you default.
Example
A mortgage uses your house as collateral. A car loan uses your vehicle. A title loan uses your car title. If you miss payments, the lender can foreclose or repossess.
A charge added to your account when you miss a payment deadline. Most credit cards charge $29-$41 per late payment, and many loans have similar penalties.
The fee itself hurts, but the real damage is to your credit score. A payment 30+ days late stays on your credit report for 7 years and can drop your score 60-110 points.
Example
Your credit card payment of $150 is due March 1. You pay on March 18. The bank charges a $39 late fee. If it's 30+ days late, it gets reported to credit bureaus and your 760 score drops to 670.
A fee your bank charges when a payment bounces because there isn't enough money in your account. Also called a 'bounced check fee' or 'returned payment fee.'
NSF fees hit you twice — your bank charges you AND the company you were trying to pay may charge their own returned payment fee. That's $50-70 for one missed payment.
Example
Your auto-pay tries to pull $350 for rent, but you only have $280 in checking. Your bank charges $35 NSF fee. Your landlord charges $25 returned payment fee. Total damage: $60 in fees.
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
If a lender charges usurious rates, the loan may be void, penalties can be reduced, or you may be entitled to damages. Know your state's limits.
Example
Your state caps consumer loans at 24% APR. An online lender charges you 36%. That loan may be unenforceable, and you might only need to repay the principal — no interest or fees.
Using your credit card to get cash from an ATM or bank. It's one of the most expensive ways to borrow — higher interest rate, immediate interest accrual (no grace period), and an upfront fee.
Cash advances are a debt trap: 25-30% APR with no grace period plus a 3-5% fee. Interest starts the second you withdraw, not at the end of the billing cycle.
Example
You take a $500 cash advance. Fee: $25 (5%). Interest: 28% APR starting immediately. After 30 days, you owe $536.67. After 6 months of minimum payments, you've paid $85 in interest on $500.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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