Loans in Florida: Payday and Installment Options
Page last reviewed: October 28, 2026 · Reviewed for accuracy by Betty Walsh
In Florida you can borrow up to $500 with a payday loan, up to $1,000 with an installment payday loan, or up to $25,000 with an installment loan at no more than 36% a year on the first $10,000. These caps bind lenders licensed by the Office of Financial Regulation (OFR).
| Payday loan | Up to $500 for 7 to 31 days; fee up to 10% plus $5 |
| Installment | Up to $25,000; 36% a year on the first $10,000 |
| Example | $500 payday loan: at most $55 in fees, $555 repaid |
| Middle option | Installment payday loan: up to $1,000 over 60 to 90 days |
| You need | ID, proof of income and a bank account |
Florida Loan Costs Side by Side
| Loan | You repay | Cost at the cap |
|---|---|---|
| $300 payday, 14 days | $335 once | $35 (~304% APR) |
| $500 payday, 31 days | $555 once | $55 (~130% APR) |
| $1,000 installment payday | 6 × $216.32, every 2 weeks | ~$298 + $5 (~208% APR) |
| $5,000 installment, 24 mo | 24 × $295.24 | ~$2,086 (~37% APR) |
| $1,000 title loan, 30 days | $1,025 once | $25 (30% a year) |
Worked out from Florida law, not offers from lenders in our network; a lender can charge less. Payday fees are flat, so shorter terms mean higher APRs. The $5,000 APR includes a $25 credit investigation fee.
Which Florida Loan Fits What You Need?
| You need | Florida option | Lender's license |
|---|---|---|
| Up to $500 for a few weeks | Payday loan | Money services business |
| Up to $1,000 for 2–3 months | Installment payday loan | Money services business |
| More, up to $25,000 | Installment loan | Consumer finance company |
| Cash against your car | Title loan | Title loan lender |
For fees, the grace period and limits, see Florida payday loan rules. For rates and monthly payments, see Florida installment loans.
A title loan uses your car as security, at no more than 30% a year on the first $2,000 and less above that. Each term is 30 days, extendable by agreement; 30 days after a missed due date, the lender can repossess the car.
Can You Get a Personal Loan in Florida With Bad Credit?
You can apply. Each lender sets its own credit standards, so approval isn't guaranteed. A loan of $25,000 or less above 18% a year must come from an OFR-licensed consumer finance company; banks and credit unions lend under their own laws.
- The same caps for every borrower. A licensed consumer finance company can't go above 36% a year on the first $10,000, 30% on the next $10,000 and 24% up to $25,000, whatever your credit score.
- One small up-front fee. Up to $25 for a credit investigation. There's no origination fee and no prepayment penalty.
- Overpriced loans don't hold up. A loan of $25,000 or less that charges more than Florida allows isn't enforceable in Florida, wherever it was made.
Starting a Florida Loan Request
- Decide how much you need and for how long; that points you to one of the four loans above.
- Submit one request through LendUp. Lenders in our network review it, and any offer shows the APR, payments and total cost before you sign.
- Before you sign, look the lender up in OFR's license search under the license type in the table above.
Which License Should a Florida Lender Have?
- Search by the company's legal name or the name it trades under.
- Choose Money Services Businesses for a payday lender or Consumer Finance Companies for an installment lender.
- Check that the license is active, and that its name and address match your offer.
Can't find the lender? Call OFR at (850) 487-9687 (option 1) before you apply, or file a complaint online.
- Payday borrowers can't be prosecuted over the check they give the lender.
- Payday rollovers are banned; a free 60-day grace period with credit counseling replaces them.
Common Questions
Can I get a personal loan in Florida?
Yes. Banks, credit unions and consumer finance companies licensed by OFR all make personal installment loans. A licensed consumer finance company can lend up to $25,000, at no more than 36% a year on the first $10,000.
What's the easiest loan to get approved for in Florida?
No loan is guaranteed; each lender sets its own standards. Florida adds one rule for payday loans: you can't get one while another is open anywhere in the state, or within 24 hours of repaying one.
How much does a $5,000 loan cost a month in Florida?
At the 36% cap, about $295.24 a month over 24 months, or $2,086 in interest, plus a credit investigation fee of up to $25. A lender can charge less, so compare the APR on each offer.
Are payday loans legal in Florida?
Yes. An OFR-licensed lender can lend up to $500 for 7 to 31 days, for a fee of up to 10% plus a $5 verification fee. Installment payday loans of up to $1,000 over 60 to 90 days are allowed too.
Are title loans legal in Florida?
Yes, from a lender licensed under the Florida Title Loan Act. Interest is capped at 30% a year on the first $2,000, and a title loan made without a license is void.
Official Sources
General information, not legal advice. Facts on this page were checked against these sources on October 28, 2026.
- Fla. Stat. 560.404 - Deferred presentment transaction rules
- Fla. Stat. 560.4041 - Deferred presentment database
- Fla. Stat. 560.406 - Returned checks; no criminal penalty
- Fla. Stat. 560.309 - Verification fee limit
- Laws of Florida ch. 2018-26 (SB 920) - Deferred presentment installment transactions
- Fla. Stat. 516.02 - Consumer finance license and 18% limit
- Fla. Stat. 516.031 - Consumer finance rate and fee caps
- Laws of Florida ch. 2024-276 (CS/HB 1347) - Consumer finance loans
- Fla. Stat. 537.011 - Title loan charges
- Fla. Stat. 537.008 - Title loan agreement and repossession notice
- Fla. Stat. 537.007 - Unlicensed title loans are void
- Florida OFR - Payday lenders (deferred presentment providers)
- Florida OFR - Consumer finance companies
- Florida OFR - Verify a license
- Florida OFR - Submit a complaint or tip
LendUp isn't a lender. We pass your request to lenders in our network; offers aren't guaranteed, and we may earn compensation if a loan is funded.