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Florida Payday Loans
Updated November 2026 · By Payday Loans Reviews Editorial Team · Not a lender
Payday loans are legal in Florida, but only from licensed lenders. The state caps what you can borrow at $500, and you must repay it between 7 and 31 days. You'll pay a fee of 10% of the loan amount plus a flat $5 fee, with total charges capped at $55.
That means a $500 loan for 14 days costs $55 in fees, and you'll owe $555 on the due date. Rollovers are prohibited. You can only have one active loan at a time.
Florida short-term loan laws
- Max loan amount
- $500
- Min loan term
- 7 days
- Max loan term
- 31 days
- Finance charge cap
- 10% of check + $5 fee
- Max absolute fee
- $55
- Typical APR
- ~304%
- Rollovers (extensions)
- Prohibited
- Simultaneous loans
- 1 active loan
- Right to rescind
- Next business day
- Governing law
- Florida Deferred Presentment Act
- Regulator
- FL Office of Financial Reg.
Florida in context
- Population rank
- 3rd
- of 50 states
- Median household income rank
- 34th
- of 50 states
- Households earning under $25,000
- 15.4%
- ▲ 0.6 pts vs US
- Median home value
- $342,503
- ▼ 12% vs US
- Home value to income
- 4.5×
- A $400 emergency expense
- 1.9 days
- of median household income
Payday lending in Florida cities
Compare costs before you sign
A typical Florida payday loan carries an APR of about 304%. That is the cost expressed as if it were spread over a full year, even though your loan is only for days or weeks. Before you borrow, compare this with a Payday Alternative Loan from a federal credit union. PALs run from $200 to $2,000, give you 1 to 12 months to repay, and cap APR at 28%. The application fee tops out at $20. For that same $500, a PAL could save you hundreds in fees and stretch repayment across smaller monthly pieces.
Active-duty service members and their dependents have additional protection. The Military Lending Act caps all costs, including fees, at a 36% APR for these borrowers. If you qualify, no licensed Florida payday lender can charge you more.
Here's how to use the numbers. First, ask any lender for the APR and total finance charge before you sign. This is required by the Truth in Lending Act. Second, call two or three local credit unions to ask about PALs. Third, if you still need the payday loan, borrow only what you can repay from your next check without falling short on rent or other bills. Florida's median rent is $1,604, so a $555 repayment two weeks from now should leave you enough to cover that and other essentials. Then take one concrete step today: phone one credit union and ask whether you qualify for a PAL before you apply for a payday loan.
Read more about borrowing in Florida
What a payday loan costs in Florida
- Fee on a $500 loan
- $55
- Share of a two-week household paycheck
- 1.9%
- Hours of work at the local median wage
- 3.0 hours
- Rollovers
- Not allowed in Florida
Example based on the Florida maximum fee for the maximum loan and local median incomes: two-week paycheck = household income ÷ 26, hourly wage = individual income ÷ 2,080. Actual terms vary by lender.
$500 payday loan vs options in Florida
| Option | Term | Cost | Details |
|---|---|---|---|
| Payday loan | 2 weeks | $55 fee | 286% APR |
| Credit card cash advance | 30 days | $37.33 (typical) | 5% fee + 30% APR |
| Credit union PAL | 6 months | $62 total | $90.27/mo at 28% APR, $20 fee |
| Installment loan at state max | 6 months | $79 total | $96.42/mo at 52% APR |
Calculated from state rules in our database; card terms are typical, not a quote.
Top Florida cities for payday storefronts
| City | Residents | Loan offices | Per 100,000 residents |
|---|---|---|---|
| Opa Locka | 68,391 | 3 | 4.4 |
| Gainesville | 224,073 | 8 | 3.6 |
| Jacksonville | 945,632 | 32 | 3.4 |
| Tallahassee | 295,335 | 10 | 3.4 |
| Pensacola | 274,422 | 8 | 2.9 |
| Ocala | 253,459 | 7 | 2.8 |
| Hialeah | 351,492 | 9 | 2.6 |
| Saint Petersburg | 357,666 | 9 | 2.5 |
Cities with 20,000+ residents; counts from our directory.
Getting short-term cash in Florida
Life doesn't wait for payday. Our protected system puts you in touch with Florida-licensed lenders ready to review your request.
Apply on the web in a few minutes, get a rapid response and, upon approval, have money sent to your account as early as the next business day.
Why borrowers in Florida use us
- Quick online application In about five minutes, you can complete the simple form from any location at any hour.
- Fast decision Your request is reviewed in real time by lenders licensed in Florida.
- All credit types considered Credit that is damaged does not always result in automatic disqualification.
- Transparent terms All loan agreements and their associated fees are bound by the Florida Deferred Presentment Act.
Florida disclosure: Cash advances and payday loans of the short-term kind are meant for passing financial tight spots, not as lasting remedies. Florida law (Florida Deferred Presentment Act) sets the rates, the terms and the maximum loan sizes. Borrow with caution and read everything before you sign.
Florida at a glance
| Metric | Florida | United States |
|---|---|---|
| Population | 21.9M | 332.3M |
| Median household income | $75,446 | $85,275 |
| Median rent | $1,604/mo | $1,432/mo |
| Income spent on rent | 35.8% | 31.6% |
| Homeownership | 67.2% | 65.4% |
| Poverty rate | 12.7% | 12.6% |
| Unemployment rate | 4.8% | 5.3% |
| Without health insurance | 11.9% | 8.6% |
| Veterans | 7.7% | 6.5% |
- Max fee on a $500 loan vs. median monthly household income
- $55 = 0.9%
Source: U.S. Census Bureau, American Community Survey, by ZIP code. City and state figures are population-weighted averages of ZIP code data and are approximate.
Payday loan cost calculator for Florida
Move the sliders to see what a payday loan would cost under Florida rules and how it compares with local incomes.
Florida maximum: $500
Florida maximum: $11
Rollovers are not allowed in Florida.
- Fee
- $55
- Total to repay
- $555
- APR
- 287%
- Share of a two-week household paycheck in Florida
- 1.9%
Estimate only. APR = fee ÷ amount × 365 ÷ term. Lenders may charge less than the state maximum; actual terms vary.
Florida payday loan answers
What is the typical loan size range in Florida?
Borrowers who qualify in Florida can usually obtain loans from $100 up to $500. The exact amount you are approved for depends on your monthly income, your ability to repay and what Florida regulations permit.
What are the minimum requirements to apply?
To submit a loan request in Florida, you must:
- The legal age of majority is 18; you must have reached it
- A government-issued photo ID and proof of living in Florida are necessary
- An open, active checking account in your name is required
- Show that you have regular income and can document it
If my credit is poor or I have gone through bankruptcy before, can I still qualify?
Possibly. Many lenders in our network look beyond traditional credit scores and focus on your current income and ability to repay rather than past credit issues. Approval is not guaranteed.
When can I expect to see the cash in my bank?
Once approval is granted and you sign electronically, the money often posts to your account the same day or by the next business day. Exact timing varies by lender and by bank.
What are the repayment schedule and method?
between 7 days and 31 days is the repayment period spelled out in Florida law, and on the due date, which typically falls on your next payday, the borrowed sum plus any fees are deducted straight from your checking account.