Florida regulates payday loans, which are called deferred presentment transactions, under state law. This page summarizes the main limits. Rules change, so check the Florida Office of Financial Regulation for the current version.
Key Florida limits
- Maximum amount: $500, not counting the fee
- Term: 7 to 31 days
- Fee: up to 10% of the amount, plus a small verification fee
- Rollovers: not allowed
- Cooling-off period: a 24-hour wait after you repay before taking another loan
Can you have more than one payday loan in Florida?
No. Florida uses a statewide database so lenders can check that you have no other open payday loan. You cannot have two at the same time.
What if you cannot repay?
Florida law gives borrowers the right to a 60-day grace period with credit counseling at no extra fee if they cannot repay, provided they request it before the due date and complete counseling. Ask your lender about it.
Compare the real cost
A 10% fee on a 14-day loan is a high APR even though the dollar fee looks small. Our APR guide shows how to calculate it.
More detail is on our Florida payday loans page, or you can begin an application with the form below.
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Disclosure: CredQualify is not a lender and does not make credit decisions. We connect applicants with lenders in a network. Loan amounts, rates, fees and terms vary by lender and state, and funding times depend on the lender and your bank. Payday loans are expensive, short-term credit and should not be used as long-term financial solutions. Read the lender’s terms and see our Rates and Fees page before you accept any offer.