Looking for short term loan for rental deposit in Cape Canaveral, FL
(Request from Amy in Cape Canaveral, Florida) I am looking for a short term loan for a rental deposit. most of the agencies in my area are out of money.
Dear Amy,
We have identified a few possibilities for meeting your short-term loan needs.
KSCFCU
If you are currently working and have a reasonable credit rating can you might want to try Kennedy Space Center Federal Credit Union (KSCFCU). While many credit unions are very restrictive on their membership, KSCFCU only requires that you live, work or worship in Brevard County or in Volusia County. There are many benefits to dealing with the nonprofit credit union like KSCFCU as opposed to for-profit lenders that tend to charge high interest rates.
Signature loans that are designed to meet short-term borrowing needs such as for rental deposits currently start as low as 12.25% APR. This is less than half of what consumer finance companies typically charge for the same type of loan. You’ll need to confirm the rate directly with KSCFCU, since these rates do typically change periodically. For more information on rental loans, contact KSCFCU at 321-455-9400 and ask about short-term signature loans.
SCCU
Space Coast Credit Union (SCCU) also has an open membership policy. Residents who live or work in Brevard, Broward County Flagler County Indian River, Martin, Miami-Dade, Monroe, Orange, Osceola, Palm Beach, Seminole, St. John’s, St. Lucie or Volusia counties are eligible for membership.
Rental loans are typically filled by the credit union’s signature loan product. With APRs beginning around 12.5%, these loans can provide you with security deposit funds that you need as well as first month’s rent while providing you with a repayment term of 1 to 5 years. For more information about SCCU membership and signature loans, call 800-447-7228.
Community Credit Union
If you live or work in Brevard, Indian River, Osceola, Orange, Polk or Volusia counties then you may be eligible to join Community Credit Union. This nonprofit financial institution charges unsecured loan rates as low as 8.99% APR.
You would be hard-pressed to find a better deal anywhere. While the rate is subject to change, Community Credit Union will typically be one of the best bargains around. If you would like to find out more about their membership privileges and loan options, call 321-637-3211.
Catholic Charities of Central Florida
If you lack the income and/or creditworthiness for an unsecured loan, then you may wish to contact Catholic Charities of Central Florida. This religious organization provides emergency financial services to help lower-income households who often find that they are denied access to regular financial services or community benefits through other agencies.
The Emergency Financial Assistance program can provide cash aid to lower-income families who need help either staying in in existing rental or gaining access to safe housing. You would need to speak with the case manager who will have screening questions to ask and you can set up an appointment for you to be interviewed. Call 888-658-2828 to speak with the case manager today.
Each of these nonprofit organizations can provide financial assistance either through a low-cost loan towards your rental deposit in Cape Canaveral, or in the case of Catholic Charities of Central Florida, through a rental assistance grant. Whatever you decide, you will be substantially better off than if you try to borrow money through a consumer finance company or through a payday loan company.