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The Florida Consumer Finance Act caps lines of credit at $25,000.

Licensed lenders can charge:

• 30% annual interest on the first $3,000.
• 24% annual interest on the next $3,001 to $4,000.
• 18% annual interest on the next $4,001 to $25,000.

Other allowable charges include:

• Up to $25 for conducting a credit check.
• Up to $25 annually for managing the account.
• For loans repaid monthly, a delinquency charge (after at least 10 days in default) of up to $15.
• For loans repaid semi-monthly, a delinquency charge (after at least 10 days in default) of up to $7.50.
• For loans repaid bi-weekly, a delinquency charge (after at least 10 days in default) of up to $7.50 when two payments are due within the same calendar month, and up to $5 when three payments are due within the same calendar month.
• A bad check charge of up to $20 or the amount levied by the depository institution.

If a borrower is overcharged, the lender must reimburse the funds within 20 days of discovering the error.

Best Bad Credit Loans in Florida of January 2025

ZippyLoan Apply Now Amount: $100 - $15,000 Min. Credit Score: 0 APR: 5.99% - 35.99% Approval: 5 Minutes Terms: 1 - 72 Months Licensed in Florida: Yes Get started

Upstart Apply Now Amount: $1,000 - $50,000 Min. Credit Score: 300 APR: 5.6% - 35.99% Approval: 5 Minutes Terms: 3 - 5 Years Licensed in Florida: Yes Get started

LifeLoans Apply Now Amount: $100 - $40,000 Min. Credit Score: 0 APR: 5.99% - 35.99% Approval: 5 Minutes Terms: 1 - 60 Months Licensed in Florida: Yes Get started

VivaLoan Apply Now Amount: $100 - $15,000 Min. Credit Score: 0 APR: 5.99% - 35.99% Approval: 5 Minutes Terms: 1 - 60 Months Licensed in Florida: Yes Get started

NextDayPersonalLoan Apply Now Amount: $100 - $40,000 Min. Credit Score: 0 APR: 5.99% - 35.99% Approval: 5 Minutes Terms: 1 - 60 Months Licensed in Florida: Yes Get started

FundsJoy Apply Now Amount: $200 - $5,000 Min. Credit Score: 0 APR: 5.99% - 35.99% Approval: 5 Minutes Terms: 1 - 60 Months Licensed in Florida: Yes Get started

SuperMoney Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 0 APR: 5.99% - 35.99% Approval: < 1 Day Terms: 12 - 120 Months Licensed in Florida: Yes Get started

PersonalLoans Apply Now Amount: $1,000 - $35,000 Min. Credit Score: 580 APR: 5.99% - 35.99% Approval: < 1 Day Terms: 90 Days - 72 Months Licensed in Florida: Yes Get started

For additional support, consult our guide on bad credit loans.

Best Personal Loans for Good Credit in Florida of January 2025

SuperMoney Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 0 APR: 4.99 - 35.99% Approval: 1 Day Terms: 12 - 120 months Licensed in Florida: Yes Get started

Prosper Apply Now Amount: $2,000 - $40,000 Min. Credit Score: 640 APR: 7.95% - 35.99% Approval: 1 - 3 Days Terms: 36 - 60 months Licensed in Florida: Yes Get started

Credible Apply Now Amount: $1,000 – $100,000 Min. Credit Score: 0 APR: 4.99 - 35.99% Approval: 1 Day Terms: 12 - 120 months Licensed in Florida: Yes Get started

PersonalLoans Apply Now Amount: $1,000 – $35,000 Min. Credit Score: 580 APR: 5.99% – 35.99% Approval: < 1 Day Terms: 90 Days – 72 Months Licensed in Florida: Yes Get started

LendingTree Apply Now Amount: $1,000 – $50,000 Min. Credit Score: 500 APR: 3.99% – 35.99% Approval: < 1 Day Terms: 1 – 5 Years Licensed in Florida: Yes Get started

Upgrade Apply Now Amount: $1,000 – $50,000 Min. Credit Score: 600 APR: 7.99% - 35.97% Approval: < 1 Day Terms: 3 - 5 Years Licensed in Florida: Yes Get started

PayOff Apply Now Amount: $5,000 – $35,000 Min. Credit Score: 640 APR: 5.99% – 24.99% Approval: 1 – 7 Days Terms: 2 - 5 Years Licensed in Florida: Yes Get started

Discover Apply Now Amount: $2,500-$35,000 Min. Credit Score: 660 APR: 6.99-24.99% Approval: 1 Day Terms: 24 - 84 Months Licensed in Florida: Yes Get started

Freedomplus Apply Now Amount: $7,500 - $40,000 Min. Credit Score: 680 APR: 6 - 15% Approval: 1 - 7 Days Terms: 36 - 84 months Licensed in Florida: Yes Get started

Payday Loan Laws in Florida of January 2025

Maximum Loan Amount: $500

Minimum Loan Term: 7 days

Maximum Loan Term: 31 days

Maximum Fee: 10% + $5 verification fee

Maximum APR: 304%

Rollovers: Prohibited

Loan Limit: 1 per customer

Payday loans are legal in Florida.

You can borrow up to $500, and the maximum finance charge is 10% of the amount borrowed plus a $5 verification fee. Borrowers can only have one payday loan at a time, and a 24-hour period is required before you can apply for another loan. The waiting period is used to help borrowers find alternative financing.

If you default on the loan, you have a 60-day grace period to gather the funds without incurring additional charges. However, to be eligible, you need to contact a Consumer Credit Counseling Service within 7 days of the default and complete a counseling program within the 60-day grace period.

Payday Loan Laws in Florida by Country of January 2025

ElitePersonalFinance analysis of payday loan laws by countries in the State of Florida.

We haven’t found a significant difference between the payday loan laws in Florida. If you are with bad credit, here are the laws in Florida by country.

Car Title Loans in Florida of January 2025

Car title loans are legal in Florida.

However, any unlicensed loans are immediately void – with both principal and interest forfeited.

Chapter 537 of Florida’s title loan statute allows licensed lenders to charge:

• 30% annual interest on the first $2,000.
• 24% annual interest on the next $2,001 to $3,000.
• 18% annual interest on any balance > $3,000.

The legislation also stipulates the “maximum annual percentage rate that may be charged is 12 times the maximum monthly rate, and the maximum monthly rate must be computed based on one-twelfth of the annual rate for each month.” Rollovers are allowed, as loans can be extended one or more 30-day periods if mutually agreed upon by the lender and the borrower.

However, when in default, the lender can immediately seize your car. But it needs to do so through a licensed agent. When the lender sells the vehicle, it must notify you 10 days in advance of the transaction. After a sale occurs, you are no longer liable for any payments. However, if the lender earns a surplus on the sale, it must return the excess amount to you within 30 days.

Alternative Payday Loans in Florida of January 2025

As a reputable alternative lender, OppLoans is licensed in the state of Florida. Through FinWise Bank –which is regulated by the Federal Deposit Insurance Corporation (FDIC) – OppLoans services loans are approved and underwritten by FinWise.

Typical installment loans in Florida range from $500 to $4,000 and have average APRs of 160%. As well, terms range from 9 to 18 months.

Best Auto Loans for Bad Credit in Florida of January 2025

SuperMoney - Compare Loans to Buy Car Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 0 APR: From 1.99% Licensed in Florida: Yes Get started

SuperMoney - Compare Loans to Refinance Car Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 0 APR: From 1.99% Licensed in Florida: Yes Get started

StandardAutoFinancial Apply Now Amount: Up to $100,000 Min. Credit Score: 0 APR: Vary Licensed in Florida: Yes Get started

MaxCarLoan Apply Now Amount: Up to $100,000 Min. Credit Score: 0 APR: Vary Licensed in Florida: Yes Get started

FirstChoiceAutoLoan Apply Now Amount: Up to $100,000 Min. Credit Score: 0 APR: Vary Licensed in Florida: Yes Get started

MyAutoLoan Apply Now Amount: $8,000 - $100,000 Min. Credit Score: 500 APR: 2.74% - 27% Licensed in Florida: Yes Get started

LendingTree Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 500 APR: From 3.09% Licensed in Florida: Yes Get started

Consumers Apply Now Amount: $250 - $500,000 Min. Credit Score: 640 APR: 2.99% - 21.99% Licensed in Florida: Yes Get started

OneMainFinancial Apply Now Amount: $1,500 - $20,000 Min. Credit Score: 0 APR: 18.00% - 35.99% Licensed in Florida: Yes Get started

CarsDirect Apply Now Amount: $1,000 - $45,000 Min. Credit Score: 0 APR: From 0.99% Licensed in Florida: Yes Get started

Auto Credit Express Apply Now Amount: $1,000 - $35,000 Min. Credit Score: 0 APR: From 1.99% Licensed in Florida: Yes Get started

CapitalOne Apply Now Amount: $7,500 - $50,000 Min. Credit Score: 500 APR: From 3.39% Licensed in Florida: Yes Get started

LendingClub Apply Now Amount: $5,000 – $55,000 Min. Credit Score: 510 APR: 3.99% - 24.99% Licensed in Florida: Yes Get started

Carvana Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 0 APR: 3.90% - 27.90% Licensed in Florida: Yes Get started

Best Auto Loans for Good Credit in Florida of January 2025

SuperMoney - Compare Loans to Buy Car Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 0 APR: From 1.99% Licensed in Florida: Yes Get started

SuperMoney - Compare Loans to Refinance Car Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 0 APR: From 1.99% Licensed in Florida: Yes Get started

LendingTree Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 500 APR: From 3.09% Licensed in Florida: Yes Get started

Consumers Apply Now Amount: $250 - $500,000 Min. Credit Score: 640 APR: 2.99% - 21.99% Licensed in Florida: Yes Get started

Lightstream Apply Now Amount: $5,000-$100,000 Min. Credit Score: 660 APR: 4.99% to 9.19% Licensed in Florida: Yes Get started

CapitalOne Apply Now Amount: $7,500 - $50,000 Min. Credit Score: 500 APR: From 3.39% Licensed in Florida: Yes Get started

MyAutoLoan Apply Now Amount: $8,000 - $100,000 Min. Credit Score: 500 APR: 2.74% - 27% Licensed in Florida: Yes Get started

Carvana Apply Now Amount: $1,000 - $100,000 Min. Credit Score: 0 APR: 3.90% - 27.90% Licensed in Florida: Yes Get started

Usbank Apply Now Amount: $3,000 - $100,000 Min. Credit Score: 650 APR: From 3.12% Licensed in Florida: Yes Get started

Bank Of America Apply Now Amount: $5,000 - $100,000 Min. Credit Score: 640 APR: From 3.54% Licensed in Florida: Yes Get started

LendingClub Apply Now Amount: $5,000 – $55,000 Min. Credit Score: 510 APR: 3.99% - 24.99% Licensed in Florida: Yes Get started

Clearlane Apply Now Amount: $5,000 - $100,000 Min. Credit Score: 600 APR: 3.54% - 10.24% Licensed in Florida: Yes Get started

OneMainFinancial Apply Now Amount: $1,500 - $20,000 Min. Credit Score: 0 APR: 18.00% - 35.99% Licensed in Florida: Yes Get started

Credit Unions in Florida of January 2025

Suncoast Credit Union

At Suncoast Credit Union, you can choose from three types of personal loans:

• Signature Loans allow you to borrow upwards of $30,000 with APRs as low as 10.5%. Terms extend up to 60 months, and loans are unsecured, so no collateral is required.
• Computer Loans vary by amount, but APRs are as low as 9.25%. Financing is available for computers, monitors, and printers, and terms extend up to 36 months.
• Personal Credit Lines allow you to borrow up to $30,000 and APRs are as low as 9.5%. Your minimum monthly payment is 3% of the outstanding balance.

Suncoast operates 9 branches across Florida, with locations in Riverview, Brandon, Odessa, and Tampa.

VyStar Credit Union

Like Suncoast, VyStar Credit Union also has three personal loan options:

• Pay & Save Loans are VyStar’s payday loan alternative. You can borrow up to $750 with an APR of 14%. Loans are repaid within 6 months, but 10% of the proceeds must be deposited in a VyStar savings account until the balance is paid in full. However, the product is a great way to avoid predatory payday loans.
• Personal Credit Lines allow you to borrow anywhere from $300 to $100,000. APRs are set at 13.24%. However, they fluctuate with the Wall Street Journal Prime Rate. As well, your minimum monthly payment is 3% of the outstanding balance or $25 – whichever is greater.
• Signature Loans allow you to borrow anywhere from $300 to $100,000 and APRs vary by term.

Signature Loan APRs are structured as:

• Up to 12 months: 7.99%.
• 13 to 24 months: 8.25%.
• 25 to 36 months: 8.49%.
• 37 to 48 months: 9.25%.
• 49 to 60 months: 9.49%.
• 61 to 72 months: 10.99%.
• 73 to 84 months: 11.49%.

VyStar operates branches across Florida, located in Jacksonville, Orange Park, Middleburg, Neptune Beach, etc.

All Licensed Credit Unions in Florida of January 2025

Student Loans in Florida of January 2025

Access to Better Learning and Education Grant (ABLE)

Offering $1,500 per year to qualifying students, Florida’s ABLE Grant provides tuition assistance if you attend eligible colleges and universities.

To qualify:

• You must be a resident of Florida and a U.S. citizen or eligible non-citizen.
• You must not possess or be in default of a federal student loan or grant.
• You must not have a bachelor’s degree.
• You must enroll for at least 12 credit hours per term.
• You must not pursue a degree in theology or divinity.
• You must meet Florida’s general eligibility requirements.

Florida Student Assistance Grant (FSAG)

The FSAG Grant is a needs-based scholarship that’s broken down into four subgroups:

• The Florida Public Student Assistance Grant is awarded to students attending state universities and public colleges.
• The Florida Private Student Assistance Grant is awarded to students attending private, non-profit, 4-year colleges and universities.
• The Florida Postsecondary Student Assistance Grant is awarded to students attending institutions exempt from the Florida Private Student Assistance Grant.
• The Florida Public Postsecondary Career Education Assistance Grant is awarded to students attending eligible Florida community colleges and career centers operated by district school boards.

The qualification requirements are the same as above except:

• You must enroll for at least 6 credit hours per term to participate in the public program.
• You must enroll for at least 12 credit hours per term to participate in the private and post-secondary programs.

Federal Housing Administration (FHA) Loans in Florida of January 2025

There are 67 counties in Florida where FHA loans are applicable. The lowest loan amount of $314,827 is available in 51 counties, while the highest loan amount of $1,017,300 is available in Monroe County.

Business Loans in Florida of January 2025

If you’re looking for a reliable online lender, consider the options below:

SuperMoney - Compare Business Loans Apply Now Amount: Up to $10,000,000 APR: Vary Min. Credit Score: 0 Licensed in Florida: Yes Get started

LendingClub Apply Now Amount: $5,000 - $500,000 APR: 9.77% - 35.98% Min. Credit Score: 600 Licensed in Florida: Yes Get started

LendingTree Apply Now Amount: $5,000 - $500,000 APR: 5.99% – 35.99% Min. Credit Score: 500 Licensed in Florida: Yes Get started

Kabbage Apply Now Amount: Up to $250,000 APR: 24% – 99% Min. Credit Score: 560 Licensed in Florida: Yes Get started

SmartBiz SBA Loans Apply Now Amount: Up to $350,000 APR: 9.28 - 10.52% Min. Credit Score: 650 Licensed in Florida: Yes Get started

CredibilityCapital Apply Now Amount: Up to $350,000 APR: 10.00 - 25.00% Min. Credit Score: 680 Licensed in Florida: Yes Get started

Live Oak Bank Apply Now Amount: $75,000 - $5,000,000 APR: 5.50 - 8.25% Min. Credit Score: 650 Licensed in Florida: Yes Get started

Funding Circle Apply Now Amount: Up to $500,000 APR: 12.18 - 36.00% Min. Credit Score: 660 Licensed in Florida: Yes Get started

OnDeck Apply Now Amount: Up to $500,000 APR: 9.00 - 99.00% Min. Credit Score: 600 Licensed in Florida: Yes Get started

BlueVine Apply Now Amount: Up to $5,000,000 APR: 15.00 - 78.00% Min. Credit Score: 600 Licensed in Florida: Yes Get started

CaminoFinancial Apply Now Amount: Up to $1,000,000 APR: Vary Min. Credit Score: 0 Licensed in Florida: Yes Get started

TheLoanExchange Apply Now Amount: $6,000 to $250,000 APR: Vary Min. Credit Score: 0 Licensed in Florida: Yes Get started

For a local alternative, take a closer look at Treasure Coast Business Loans:

Treasure Coast Business Loans

At Treasure Coast Business Loans, you have three options to choose from:

• A Business Line of Credit allows you to borrow up to $725,000 with fixed terms of 18 months. APRs vary by the borrower, but there are no maintenance, application, or access fees. As well, loans are unsecured, so no collateral is required.
• A Merchant Cash Advance Loan exchanges a lump sum for a small percentage of your company’s future credit card sales. You can borrow anywhere from $20,000 to $250,000, and no collateral is required. However, to qualify, you need a FICO score of at least 500, at least $12,500 in monthly sales, be in operation for at least 9 months, and be cash-flow positive.
• A Working Capital Loan allows you to borrow anywhere from $100,000 to $150,000 with variable APRs as low as 8.25%. Terms extend up to 10 years, and no collateral is required. However, you need a FICO score of at least 680 to qualify, and your business must be in operation for at least 1 year.

To get in touch with Treasure Coast, you can visit their Florida location at 203 N.W. Zanzibar Place Port St Lucie, FL 34986. You can also call them at 1-800-561-9086 or email them at treasurecoastloans@gmail.com.

Conclusion

Florida law does not restrict small credit lines, payday loans, or car title loans. Interest rates are capped at 30% for credit lines, but additional charges usually result in higher APRs. For payday loans, they’re legal in Florida, and APRs can extend beyond 300%. However, the state restricts payday loan rollovers and requires a 60-day grace period so borrowers can overcome a default. For car title loans, APRs are similar, but there is no grace period for default. The lender has the right to seize your car immediately. However, you’re not liable for any amount remaining. If the car is sold at a surplus to the loan balance, the lender is required to return the excess funds.