Florida Personal Loans: Online & Local Lenders

A personal loan is a solid option when you need funds to cover a large expense or consolidate debt to pay down your balances faster. To find the perfect loan, it’s important to limit your search to lenders that operate in your state.

Getting a personal loan in Florida is similar to anywhere else in the country, but lenders must adhere to certain interest rate limitations. You can find national online lenders that work within these limits or instead for a local or regional bank or credit union. 

Keep reading to discover our top picks. 

How to find the best personal loans in Florida 

Taking out a loan in Florida is generally the same as taking out loans in most other states. The only difference is that Florida has stricter interest rate maximums than some other areas. For loans up to $500,000 the maximum per annum simple interest rate is 18%. That jumps to 25% for loans over $500,000.

National and local lenders must adhere to these laws in Florida. Here are nine lenders with flexible personal loan uses. You can click the lender’s name in the table to find out more about its personal loans in the Sunshine State.

Lender	Starting rates (APRs)	Best for
Credible	6.40%	Marketplace
LightStream	7.49%	Excellent credit
Upgrade	8.49%	Fair credit
SoFi	7.49%	Good credit
Happy Money	11.72%	Credit card debt
First Florida Credit Union	10.24%*	Hands-on application
Regions Bank	9.24%*	Secured loans for bad credit
Truist	8.74%*	Online application process
Florida Credit Union	10.17%*	Multiple loan options

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Online unsecured personal loans in Florida

Most online personal loans are unsecured and offer a convenient and flexible financial solution. We’ve reviewed the lenders below to confirm that they’re available to Florida residents. See which we determined to be the best for different financial situations.

Credible – Best marketplace

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Editorial rating: 5.0 out of 5

• Compare multiple lenders
• Quick and easy comparison
• No fees for using the service

Credible is ideal if you’re looking to explore various loan options. As a marketplace, it allows borrowers to compare prequalified offers from multiple lenders in its network¹. With no impact on your credit score for checking rates, it’s an excellent option for those unsure about their credit history and how it may affect eligibility.

The platform is user-friendly and includes one online application. If you find an offer you like, you can proceed to that lender’s full application by following the directions Credible provides.

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LightStream – Best for excellent credit

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Editorial rating: 4.8 out of 5

• Low interest rates for borrowers with strong credit
• No fees or prepayment penalties
• Loans customized to each borrower’s needs

LightStream is a standout choice for borrowers with excellent credit. It offers some of the most competitive rates in the market, which it backs with its Rate Beat program. LightStream will beat any offer a borrower gets with a lower interest rate than it offered by 0.10 percentage points if the rest of the repayment terms are the same.

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Upgrade – Best for fair credit

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Editorial rating: 4.9 out of 5

• Suitable for a range of credit profiles
• Offers direct payment to creditors for debt consolidation
• Transparent loan terms

Upgrade provides an accessible option for borrowers with fair credit. This lender simplifies the debt consolidation process by offering direct payments to creditors, which can be helpful for those feeling overwhelmed managing multiple debts. Borrowers can apply with another individual through a joint application, which could help them qualify for a larger loan or lower rate.

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SoFi – Best for good credit

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Editorial rating: 5.0 out of 5

• Excellent all-around digital experience
• Unique member benefits
• No fees required

SoFi is an excellent choice for borrowers with good to excellent credit. Its digital experience includes an online application, a mobile app, and a number of educational resources. It offers loans up to $100,000, but its minimum loan amount of $5,000 is higher than most.

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Happy Money – Best for credit card debt

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Editorial rating: 4.8 out of 5

• Specializes in loans for paying off credit card debt
• Offers tools and resources for financial wellness
• Competitive interest rates for debt consolidation

Happy Money’s loan is only available to borrowers looking to consolidate credit card debt. This specialization makes it an attractive option because it designed the entire experience around supporting those looking to get out of debt.

This support comes in the form of educational resources, assistance paying off creditors with the new funds, and letting the borrower choose their repayment schedule to prioritize lower payments or a faster repayment period.

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Local Florida personal loans

For a more local personal loan process, consider one of these banks or credit unions with a physical presence in Florida. You’ll find options for secured and unsecured loans to consider and may have more assistance available than an online-only lender.

First Florida Credit Union

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Best for hands-on application process

• Application available online, in person, or by phone
• Same-day funding possible
• Payments reported to the credit bureaus

First Florida Credit Union personal loans are available to eligible members. To join, you must live or work in one of the state’s 39 counties or belong to a select employee group or Southern Baptist Church in Florida.

You don’t need to pay any origination fee for a personal loan from First Florida Credit Union and can spread out payments for as long as 72 months. If you need assistance with your application, it’s easy to connect with someone to help in a local branch or by phone.  

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Regions Bank – Best secured loan options for bad credit

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Editorial rating: 4.8 out of 5

• Secured and unsecured personal loans available
• Loan amounts up to $50,000
• Fast preapproval

Regions Bank stands out in its options for borrowers in all credit categories. Its unsecured loans come with no origination fee or credit check when evaluating loan terms. Plus, the personal loan funding process works fast: you can get preapproved in minutes and may qualify for same-day funding.

It has two personal loan options for Florida applicants with bad credit. The Deposit Secured Loan uses collateral from a Regions account, such as a CD, savings account, or money market account. You can also use a secured installment loan to purchase a tangible asset, such an RV, boat, or motorcycle, which acts as collateral for the loan. 

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Truist

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Best online application process

• Unsecured loans only
• Loan amounts as low as $3,500
• Potential for same-day funding

Truist has the look and feel of a national bank but with a regional footprint that includes Florida. With no origination fees, you’ll get the full loan amount deposited in your account if approved.

Truist has a low minimum loan amount of $3,500. If you don’t need to borrow much, Truist could be a solid fit so you don’t have to pay for more cash than you need. Truist also owns LightStream, which offers online loans up to $100,000.

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Florida Credit Union

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Best for multiple personal loan options

• 4 personal loan options available
• Co-applicant allowed
• Decision within minutes

Florida Credit Union is ideal for borrowers who want options. In addition to standard personal loans, you can apply for a no-hassle loan between $1,000 and $3,000 even with bad credit. It also offers debt consolidation loans and early check advance loans. 

Watch for origination fees ranging between $25 and $100 depending on the loan type. One unique perk is FCU’s Skip-A-Pay program, which lets you skip up to two payments per year. Interest still accrues, but can help you during tough financial times. 

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How to choose the best Florida personal loan

Take your time comparing personal loans in Florida. Not every lender offers the same rates and terms. Start by narrowing your list to lenders with the kind of loan you prefer, whether secured or unsecured.

Then get prequalified so you can get a sense of the loan amount and interest rate you’re eligible for before submitting a full application. This step doesn’t hurt your credit score and saves you time. You only need to submit one application with a clear sense of how much you can borrow and the size of your monthly payment. 

Our expert’s take on the selected lenders

Erin Kinkade

CFP®

I like Truist and Florida Credit Union primarily for their interest rates; if someone is not eligible to be a credit union member, they can apply at Truist. Credible, Upgrade, and Regions have high maximum interest rates, which I recommend avoiding. But if it’s an emergency and the borrower has fair credit, that may be their best option. In that case, I recommend making it a priority to pay the loan off as fast as possible in line with the loan terms (meaning avoid a prepayment penalty if the lender assesses one).

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¹ Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.