Palm Bay at a glance
- Population: the Census estimates 135,566 residents, ranking 15th of 411 places in Florida (Vintage 2023).
- 2020 Census base: 119,752 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: up roughly 13.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Florida places: the 15th-largest of 411 (US Census Bureau, 2023 estimate).
- Size percentile: about 96% of places in Florida are smaller (US Census Bureau).
- Coordinates: latitude 27.9548, longitude -80.6650 (US Census Bureau Gazetteer).
- Nearest larger cities: Orlando, FL (48 mi); Port St. Lucie, FL (50 mi); Tampa, FL (111 mi) (Census populations, approximate straight-line distance).
- Nearest smaller places: Malabar, FL (6 mi); Grant-Valkaria, FL (6 mi); West Melbourne, FL (7 mi) (US Census Bureau estimates).
What a personal loan costs in Palm Bay
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
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 Palm Bay
Read the table as the compliance picture for a lender serving Palm 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 Palm Bay
The order below is a sensible way to approach a loan in Palm 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.