Special situations

Are there state rules on personal loans in Florida?

Short answer

Yes. Florida caps consumer installment loans at 18% APR for the first $500, 30% for $500-$2,000, and 24% for amounts above $2,000 under the Florida Consumer Finance Act. Loans by state-licensed consumer finance companies can charge these capped rates; bank loans operate under federal preemption.

Context

Florida's tiered cap structure means a $500 loan can carry up to 18% APR while a $10,000 loan can carry up to 24% APR. Federal banks and credit unions can lend at higher rates by operating under federal regulation, but state-licensed consumer-finance companies must comply with state caps.

In practice, most Florida personal-loan borrowers see offers from national online lenders operating under federal-bank partnerships, with APRs determined by credit profile rather than state law. Pre-qualify across multiple lenders to find the best available rate.

Editorial

Reviewed by: Compliance Review
Last reviewed: May 22, 2026

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