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Personal loans in Florida

Personal loans for bad credit in Florida

Personal 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.

Last updated .

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Part of the Florida guide

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What people use personal loans for

A personal loan is a lump sum repaid in fixed monthly payments. People use one for a larger cost they want to spread out, such as a car repair, a move, medical bills or several higher-rate debts rolled into one payment. The examples below show what larger and smaller amounts can cost within Florida limits.

What personal 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
$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
$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
$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

Personal 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.

Money snapshot for Florida

Florida household data
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[4]$1,973FY2026
Population[5]23,372,2152024
Unemployment rate[6]4.5%2026-08

Other options in Florida

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

  • Emergency loans in Florida: allowed under Florida law; see its limits and license rules.
  • Installment loans in Florida: allowed under Florida law; see its limits and license rules.
  • Payday loans in Florida: allowed under Florida law; see its limits and license rules.
  • Title loans in Florida: allowed under Florida law; see its limits and license rules.
  • Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
  • Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
  • Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
  • Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in Florida.

See every loan type Florida law allows.

Personal 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. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
  6. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

Important disclosures

Illustrative range for installment loans in Florida: APRs from 5.99% to 35.99%, where the state APR cap is 36% at most and lower on larger loans. This range is not a quote; each lender sets its own rates. Your APR depends on your credit, income, state and the lender.

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  • Short-term loans are costly and are not a long-term financial solution. Borrow only what you can repay on time.
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  • 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.