How is your loan repaid
In the state of Florida:
Florida residents are eligible for a maximum payday loan not exceeding $500 with loan terms ranging from seven (7) to thirty-one (31) days. By law, Florida residents are further limited to one outstanding payday loan, and a 24-hour cooling off period after each loan payoff. Upon maturity (due date), Lending Bear will automatically withdraw the loan amount plus any fee(s) from your checking account. As per Florida law, your loan must be paid in full on the due date. If you need to make an alternative arrangement for repayment, please contact us at 855-285-5700 before the due date of your loan. Lending Bear does not refinance payday loans in the state of Florida.
In the state of Alabama:
The maximum payday loan amount for Alabama residents is $500.00 with loan terms between 10 and 31 days. Upon maturity (due date), Lending Bear will automatically withdraw the loan amount plus any fee(s) from your checking account. Alabama law provides the option for loan refinancing with a limit of one refinance per loan. Upon refinancing approval, your original loan fee must still be paid on the due date. On the due date of your refinanced loan, you must pay the loan principal in full plus an additional fee. If you need to use an alternative method of payment, please contact us at least two business days prior to the due date at 855-285-5700.
Lending Bear is a member of the Community Financial Services Association of America (CFSA) and subscribes to the industry’s Best Practices (CFSA Membership Best Practices).