Margate at a glance
- Population: about 58,593, 52nd by size in Florida of 411 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 58,704 residents here (US Census Bureau).
- 2020 to 2023 change: down about 0.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Florida places: 52nd of the state's 411 Census places (US Census Bureau).
- Size percentile: about 87% of Florida's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 26.2480, -80.2112 by the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Coral Springs, FL (3 mi); Tamarac, FL (4 mi); Pompano Beach, FL (5 mi); Lauderhill, FL (6 mi); Sunrise, FL (6 mi) (US Census Bureau).
- Nearest smaller communities: North Lauderdale, FL (3 mi); Coconut Creek, FL (3 mi); Lauderdale Lakes, FL (6 mi), each a US Census place.
What a personal loan costs in Margate
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Florida lending rules that apply in Margate
Each row below is a Florida rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Margate
A few practical steps will make the process in Margate 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.