Miami Springs at a glance
- Population: the Census estimates 13,325 residents, ranking 152nd of 411 places in Florida (Vintage 2023).
- 2020 Census base: 13,862 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a decline of roughly 3.9% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Florida places: 152nd out of 411 Census places (US Census Bureau).
- Size percentile: larger than about 63% of the Census places in Florida (US Census Bureau).
- Coordinates: 25.8202, -80.2889 (US Census Bureau Gazetteer).
- Nearest larger cities: Hialeah, FL (4 mi); Doral, FL (4 mi); Miami, FL (6 mi); Opa-locka, FL (6 mi); Hialeah Gardens, FL (6 mi), each a US Census place with its estimated population.
- Nearest smaller places: Virginia Gardens, FL (1 mi); West Miami, FL (4 mi); Medley, FL (5 mi) (US Census Bureau estimates).
What a personal loan costs in Miami Springs
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
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 Miami Springs
The table carries the Florida rate and licensing rules that apply to consumer loans made in Miami Springs.
| 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 Miami Springs
The steps below are worth completing first when you borrow in Miami Springs:
- 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.