Personal loans in Florida
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
Florida personal loan rules at a glance
| Governing law | Florida Consumer Finance Act, Chapter 516, Florida Statutes. (Fla. Stat. ss. 516.02, 516.031) |
|---|---|
| Rate cap | 36% a year 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. (Fla. Stat. s. 516.031(1)) |
| License required | Yes. A person may not be in the business of making consumer finance loans without first getting a license from the Office of Financial Regulation (banks, credit unions and similar institutions are exempt). Unlicensed lenders making loans of $25,000 or less are limited to 18% a year. (Fla. Stat. s. 516.02(1), (2)(a), (4)) |
| Loan sizes covered | Loans of $25,000 or less (including lines of credit up to $25,000). (Fla. Stat. s. 516.02(2)(a), (3)) |
| Origination / other fees | No general origination fee is listed. A licensee may charge up to $25 to cover part of the cost of checking your credit and character, plus a delinquency charge of up to $15 on a monthly payment at least 12 days late (if agreed in writing), and a bad-check charge of up to the greater of $20 or the bank's actual charge. (Fla. Stat. s. 516.031(3)) |
Bad credit loans in Florida
Bad credit doesn't automatically rule you out in Florida. Many lenders in our network look at your income and bank activity, not just your score, and offer personal installment loans of $500 to $5,000 to borrowers with fair or poor credit. Rates are higher than prime offers, so compare the monthly payment and total cost before you accept. More on bad-credit loans.
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Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Rate cap |
|---|---|
| Alabama | Tiered caps. |
| Georgia | Loans $3,000 or less need an installment lender license; above $3,000, any written rate. |
Personal Loans by city in Florida
Counties in Florida
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Also see: Payday Loans in Florida · Title Loans in Florida · All Florida loan options
Frequently asked questions
Is there a cap on personal loan interest rates in Florida?
Licensed consumer finance lenders: 36% a year on the first $10,000, lower tiers above, for loans up to $25,000.
Do personal loan lenders need a license in Florida?
Yes. A person may not be in the business of making consumer finance loans without first getting a license from the Office of Financial Regulation (banks, credit unions and similar institutions are exempt). Unlicensed lenders making loans of $25,000 or less are limited to 18% a year.
Can I get a personal loan with bad credit in Florida?
Yes, some lenders in our network work with fair or bad credit, but approval is not guaranteed and rates are higher. Licensed lenders in Florida must follow the state's consumer-lending rules shown above; tribal and bank-partner lenders may follow different rules, so compare the APR on every offer.
What credit score do I need for a personal loan in Florida?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Florida with our free 3-minute form.
Can I get a personal loan in Florida with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Florida residents can see if they qualify for $100 to $5,000 in about 3 minutes.
How do installment loans work in Florida?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Florida residents can see installment loan offers with our free 3-minute form.
Where can I find a loan for bad credit in Florida?
You can apply at local banks and lenders in Florida, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.