Jay at a glance
- Population: 572 — 362nd in Florida, which has 411 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 527 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: population rose about 8.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Florida places: 362nd by size among 411 communities (US Census Bureau).
- Size percentile: it is larger than about 12% of the places in Florida (US Census Bureau).
- Coordinates: 30.9504, -87.1523 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Century, FL (7 mi); Flomaton, AL (8 mi); East Brewton, AL (11 mi); Brewton, AL (12 mi); Atmore, AL (22 mi) (US Census Bureau populations).
- Smaller places nearby: Pollard, AL (5 mi); Riverview, AL (9 mi); Castleberry, AL (25 mi), per US Census Bureau estimates.
What a personal loan costs in Jay
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Florida lending rules that apply in Jay
The sourced rows below are the rules a licensed lender must follow when lending in Florida, and therefore in Jay.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Jay
A few practical steps will make the process in Jay less costly:
- 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.