All tools · Emergency Cash Options

How Many Payday Loans Can You Have at Once in Florida

Use the free tool — Emergency Cash Options

The short answer

Florida law allows only one payday loan at a time, statewide. You cannot roll over a payday loan, and there is a 24-hour waiting period between loans. This comes from Fla. Stat. ch. 560 Part IV, enforced by the Florida Office of Financial Regulation.

What the law says

• A payday loan (called a "deferred presentment" loan) in Florida is capped at $500.
• The fee is capped at 10% of the amount, plus a $5 verification fee.
• Only one payday loan at a time is allowed, statewide, with a 24-hour wait between loans.
• Rollovers are not allowed.
• Every lender must be licensed with the Florida Office of Financial Regulation.

Source: Fla. Stat. ch. 560 Part IV — Florida OFR.

If you already have one and can't pay it back

You have a right to a 60-day grace period if you complete credit counseling and cannot repay your loan on time, under Fla. Stat. 560.404(19).

A credit union Payday Alternative Loan (PAL) can sometimes be used to refinance an existing payday loan at a lower cost — up to 28% APR, $200 to $2,000, up to 12 months, per the NCUA.

Cheaper options before you take out another loan

• Call the utility company for an extension or payment arrangement.
• Call 211 for utility, rent, food and medical assistance programs in your county.
• Talk to your landlord before the due date.
• Ask your employer about a pay advance.
• Ask a credit union about a Payday Alternative Loan.

What a payday loan really costs

On a $500 payday loan, the fee is capped at 10% of the amount plus $5 — that works out to about $55 for a loan of 7 to 31 days. Compare that with a credit union PAL, capped at 28% APR, before you sign anything.

What to do next

This free tool reads your own numbers — how much you need, when it's due, and what you have — and lays out every option in order, cheapest first, with the approximate dollar cost of each. No account. Nothing stored.

This is not financial or legal advice. Costs shown are approximate and this tool does not know your full situation. Confirm any loan's terms in writing before signing, and check that a Florida lender is licensed at flofr.gov. A free counselor at NFCC can also review your options by phone, at no charge for the first session.

Emergency Cash Options lists borrowing and assistance options in plain language with approximate costs; it can be wrong, and it is not financial or legal advice. Florida payday-loan rules are cited from Fla. Stat. ch. 560 as published — confirm with the Florida Office of Financial Regulation. Nothing you type is stored.