Florida Payday Loan Laws
 | Min/Max Term of Payday Loan: | 7-31 days | | Max Fees and Finance Charges: | 10% + verification fee | | Maximum Loan Amount: | $500 | | Number of Rollovers: | None (cannot rollover) | | Outstanding loans allowed at one time: | One | | Cool-off period: | 24 hours | | Military Protection: | Not specified | | Payment Plan: | Yes | | Limits on collection and presentment: | Not specified | | Collection fees: | All charges imposed on the lender by any financial institution; lender not entitled to treble damages | | Presentment Limit: | Not specified | | Penalties: | Not specified | | Private right of action: | Not specified |
Florida Payday Loan Laws:
Florida passed statutes specifically authorizing payday lending. The interest rates and fees that lenders are permitted to charge amount to very large annual percentage rates. The APR for a 14 day, $100 loan is 390%.
| Payday Loan Laws: |
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