Bonifay at a glance
- Population: 2,825 residents, the 268th-largest of 411 places in Florida (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,761 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 2.3% more residents than the 2020 Census base (US Census Bureau).
- Rank among Florida places: the 268th-largest of 411 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 35% of the places in Florida (US Census Bureau).
- Coordinates: 30.7813 latitude, -85.6888 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Chipley, FL (9 mi); Geneva, AL (21 mi); Marianna, FL (26 mi); DeFuniak Springs, FL (26 mi); Freeport, FL (33 mi); US Census Bureau population estimates.
- Smaller places nearby: Caryville, FL (7 mi); Westville, FL (9 mi); Vernon, FL (12 mi), per US Census Bureau estimates.
What a personal loan costs in Bonifay
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Florida lending rules that apply in Bonifay
The table carries the Florida rate and licensing rules that apply to consumer loans made in Bonifay.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Florida Office of Financial Regulation (OFR) Source says: "The Office of Financial Regulation is a state-government agency created by the Governor and Cabinet to provide regulatory oversight for Florida's financial services industry". | Florida Office of Financial Regulation as of 2026-09-16 |
| Deferred presentment fee cap | 10% of the amount provided (transactions not repayable in installments) Source says: "A deferred presentment provider or its affiliate may not charge fees that exceed 10 percent of the currency or payment instrument provided". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 18% per annum simple interest (loans/advances of $500,000 or less; loans above $500,000 are exempt from this cap) Source says: "it shall be usury and unlawful ... to ... charge ... a rate of interest greater than the equivalent of 18 percent per annum simple interest". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
| Payday lending status | Permitted under license (deferred presentment providers; money services business license under chapter 560) Source says: "Businesses intending to engage in deferred presentment transactions must be licensed as a money services business under chapter 560, Florida Statutes". | Florida Office of Financial Regulation as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer finance loan license required (chapter 516) Source says: "A person must not engage in the business of making consumer finance loans ... unless ... the person first obtains a license from the office". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
How to compare offers in Bonifay
The steps below are worth completing first when you borrow in Bonifay:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Florida using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.