Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Florida, payday loans are regulated by the Office of Financial Regulation. Borrowers in Pensacola can request loans up to $500. The maximum fee allowed is 10% of the loan amount plus a verification fee not to exceed $5. Terms typically range from 7 to 31 days. Only one payday loan may be outstanding at a time, and there is a mandatory 24-hour cooling-off period between consecutive loans.
Annual Percentage Rate (APR)
200% - 450% APR
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $100 | 14 days | 391.07% | $15.00 | $115.00 |
| $300 | 14 days | 304.17% | $35.00 | $335.00 |
| $500 | 31 days | 129.48% | $55.00 | $555.00 |
The table above is a representative example only. Actual APRs and fees vary by lender, loan amount, and term. APRs can range from 200% to 450% or more for short-term loans. Always review the final offer from your lender before signing.
State-Specific Information — Florida
Maximum Loan Amount: $500
Rate Cap: Florida caps fees at 10% of the loan amount plus a $5 verification fee.
Regulations: Florida Statutes Chapter 560, Part IV.
Licensing: All lenders in our network must be licensed by the Florida Office of Financial Regulation (OFR).