Whether you’re applying near International Drive or out toward east Orange County, the same set of Florida payday loan laws applies. The statute is the Deferred Presentment Act (Fla. Stat. § 560.402 et seq.), and it doesn’t bend based on city or ZIP code.
Quick answer: Florida payday loans are legal statewide under the Deferred Presentment Act, capped at $500 with a 7-to-31-day term and a fee of 10% of the amount borrowed plus a $5 verification charge, with rollovers banned and only one outstanding loan allowed at a time.
The core rules, at a glance
- Loan amount: capped at $500, exclusive of fees
- Term: no shorter than 7 days, no longer than 31
- Fee: 10% of the amount borrowed, plus a flat $5 verification fee
- Rollovers: not permitted under any circumstances
- Outstanding loans: limited to one at a time, checked against a statewide database
- Cooling-off period: 24 hours must pass after repayment before a new loan can be issued
Turning the fee into an annual rate
A $500 loan with the maximum $55 fee, held for 14 days, works out to roughly 287% APR once annualized. The flat fee itself doesn’t grow with a shorter loan term, but the annualized rate does — which is exactly why comparing APRs, not just fees, matters before you sign.
A second product exists too
Florida also permits a separate installment payday loan of up to $1,000 with a 60- to 90-day repayment window, governed by the same statute but with different fee math. See our dedicated guide before assuming every Florida payday product follows the $500/31-day rule.
FAQ
Is payday lending legal in Florida?
Yes, it’s licensed and regulated under the Deferred Presentment Act, with firm limits on amount, term, and fees.
Can a lender extend my loan for another fee?
No, rollovers are prohibited by Florida law regardless of the lender.
How do I confirm a lender is licensed?
Search the company’s exact name through the Florida OFR’s online licensee database before applying.
This article is educational and is not financial or legal advice. Before you borrow, confirm the lender is licensed with the Florida Office of Financial Regulation (OFR).