Cutler Bay at a glance
- Population: 43,762 residents, the 71st-largest of 411 places in Florida (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 45,425 residents here (US Census Bureau).
- 2020 to 2023 change: down about 3.7% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Florida places: 71st of 411 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 83% of the places in Florida (US Census Bureau).
- Coordinates: 25.5761 latitude, -80.3340 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Coral Gables, FL (9 mi); Homestead, FL (10 mi); Miami, FL (16 mi); Doral, FL (17 mi); Miami Beach, FL (20 mi) (US Census Bureau).
- Nearest smaller communities: Palmetto Bay, FL (3 mi); Pinecrest, FL (6 mi); South Miami, FL (9 mi), each a US Census place.
What a personal loan costs in Cutler Bay
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Florida lending rules that apply in Cutler Bay
Read the table as the compliance picture for a lender serving Cutler Bay: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Cutler Bay
These steps are the ones that most affect the offer you receive in Cutler Bay:
- 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.