Lake Wales at a glance
- Population: 16,681 people, the 137th-largest place among Florida's 411 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 16,074 residents here (US Census Bureau).
- 2020 to 2023 change: an increase of about 3.8% since the 2020 count (US Census Bureau).
- Rank among Florida places: 137th in population of 411 places (US Census Bureau).
- Size percentile: larger than about 67% of the Census places in Florida (US Census Bureau).
- Coordinates: mapped at 27.9207, -81.5995 by the US Census Bureau Gazetteer.
- Nearest larger cities: Winter Haven, FL (12 mi); Haines City, FL (13 mi); Bartow, FL (14 mi); Auburndale, FL (18 mi); Lakeland, FL (24 mi); each population is a US Census Bureau estimate.
- Smaller places close by: Highland Park, FL (5 mi); Dundee, FL (7 mi); Hillcrest Heights, FL (8 mi) (US Census Bureau).
What a personal loan costs in Lake Wales
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Lake Wales
The Florida rate caps and licensing rules that reach Lake Wales are listed below, each with its source and retrieval 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 Lake Wales
Before you share your details with a lender in Lake Wales:
- 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.