Cocoa at a glance
- Population: 19,930 (US Census Bureau, Vintage 2023 subcounty estimate), the 120th-largest of 411 places in Florida.
- 2020 Census base: 19,009 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: population rose about 4.8% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Florida places: 120th of the state's 411 Census places (US Census Bureau).
- Size percentile: it is larger than about 71% of the places in Florida (US Census Bureau).
- Coordinates: it sits at 28.3766, -80.7633 in the US Census Bureau Gazetteer.
- Nearest larger cities: Rockledge, FL (4 mi); Titusville, FL (14 mi); Melbourne, FL (19 mi); West Melbourne, FL (23 mi); Palm Bay, FL (30 mi); each population is a US Census Bureau estimate.
- Smaller towns nearby: Cocoa Beach, FL (9 mi); Cape Canaveral, FL (10 mi); Palm Shores, FL (14 mi) (US Census Bureau).
What a personal loan costs in Cocoa
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Florida lending rules that apply in Cocoa
The table lists the Florida rules that apply to a loan made in Cocoa, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Cocoa
The steps below are worth completing first when you borrow in Cocoa:
- 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.