Your one-stop guide to bad credit loans and help in your state.
MenuClose

Installment loans in Florida

Installment loans for bad credit in Florida

Installment loans are allowed in Florida from state-licensed lenders (Consumer Finance Company license). Here are the limits Florida law sets, what a typical loan can cost, and where to get free help if you need it.

Check your options

BadCreditMD is not a lender or broker. A lending network partner shares requests with lenders, who set their own rates and decide whether to lend. There is no fee to use our service. See disclosures.

Last updated .

Part of the Florida guide

Check your options

How installment loans work

An installment loan is repaid in equal payments over months, not in one payment on your next payday; the examples below stay within Florida limits.

What installment loans can cost

These examples show how cost adds up. They are illustrative, not a quote. Your lender sets the actual rate and terms.

Representative example

Amount borrowed
$1,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$97.48
Finance charge
$169.76
Total of payments
$1,169.76

Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$3,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$292.45
Finance charge
$509.40
Total of payments
$3,509.40

Example: a $3,000 installment loan at 29.99% APR repaid in 12 monthly payments of $292.45 costs $3,509.40 in total, including a finance charge of $509.40. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$500
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$48.74
Finance charge
$84.88
Total of payments
$584.88

Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

What Florida law allows

Installment loans in Florida
ProductStatusAPR capAmountTermLicenseLaw
Installment and personal loans[1][2][3] Allowed 36% APR (top tier) Up to $25,000 Not set by statute Consumer Finance Company license Fla. Stat. ch. 516
Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow.

Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.

The rules in full

Installment and personal loans

Rate cap
Fla. Stat. 516.031(1) caps interest at 36% per annum on the first $10,000 of principal, 30% on the part from $10,000 to $20,000, and 24% on the part from $20,000 to $25,000, for loans of up to $25,000 by a licensed consumer finance company (tiers as amended effective July 1, 2024).
Fees
Delinquency charge allowed only for a payment in default at least 12 days and agreed in writing: max $15 per monthly payment, $7.50 per semimonthly payment, and $5 to $7.50 per biweekly payment (Fla. Stat. 516.031(3)).
License
Consumer Finance Company license (CF license, Florida Office of Financial Regulation, ch. 516 F.S.).

Full detail for every loan type: Florida lending laws.

Rent and jobs in Florida

Typical rent and the jobless rate, to weigh before a loan payment.

Rent and unemployment in Florida
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[4]$1,973FY2026
Unemployment rate[5]4.5%2026-08

Other options in Florida

Cheaper options to try first

Worth checking whatever your credit: these can cost less than a high-rate loan.

  • Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
  • Nonprofit credit counseling through the National Foundation for Credit Counseling.
  • A payment plan from the company you owe, if you ask before you miss a payment.
  • 211 for help with rent, utilities and food: call 211 or visit 211.org.

More cheaper options in Florida.

Other loan types allowed in Florida

See every loan type Florida law allows.

Installment loans in nearby states

Sources

  1. natlawreview.com/article/new-florida-law-overhauls-consumer-finance-loan-interest-rate-requirements. Retrieved September 23, 2026.
  2. flofr.gov. Florida Office of Financial Regulation (OFR), Division of Consumer Finance. Retrieved September 23, 2026.
  3. flsenate.gov. Fla. Stat. ch. 516. Retrieved September 23, 2026.
  4. National Low Income Housing Coalition. Out of Reach 2026: Florida. Retrieved September 23, 2026.
  5. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

Back to top

Important disclosures

APRs vary by lender and state in Florida. Each lender sets its own rates and terms and must show you the APR before you sign.

  • BadCreditMD is not a lender or broker and does not make loans or credit decisions. When you submit a request, a lending network partner shares it with third-party lenders, and those lenders or the partner may pay us a fee for each referral. The lenders decide whether to offer you a loan.
  • There is no fee to use BadCreditMD. Lenders or our lending network partner may pay us.
  • Lenders set their own rates, fees and terms. Offers depend on your credit, income, state of residence and each lender's criteria.
  • Our service is not available in all states, and not every loan type is available in every state.
  • By submitting a request you consent to lenders checking your credit, which may affect your score, and to your information being shared with them.
  • Submitting a request does not mean you will be approved or funded, or that you will receive any particular amount or rate.
  • Short-term loans are costly and are not a long-term financial solution. Borrow only what you can repay on time.
  • BadCreditMD publishes general information about loans and state rules. It is not legal or financial advice.
  • BadCreditMD is operated by BadCreditMD, LLC, 30 N Gould St Ste N, Sheridan, WY 82801. Contact: pr@badcreditmd.com. Full details are on our disclosures page and disclaimer.
  • Questions about a lender licensed in Florida? Contact the Florida Office of Financial Regulation (OFR), Division of Consumer Finance or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.