Welaka at a glance
- Population: about 743 residents, ranking 352nd of 411 Census places in Florida (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 718 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 3.5% more residents than the 2020 Census base (US Census Bureau).
- Rank among Florida places: the 352nd-largest of 411 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 14% of the Census places in Florida (US Census Bureau).
- Coordinates: 29.4852 / -81.6610, per the US Census Bureau Gazetteer.
- Nearest larger cities: Pomona Park, FL (5 mi); Crescent City, FL (10 mi); Palatka, FL (11 mi); Interlachen, FL (17 mi); Pierson, FL (21 mi) (Census populations, approximate straight-line distance).
- Nearest smaller places: Marineland, FL (30 mi); Beverly Beach, FL (31 mi); Reddick, FL (33 mi) (US Census Bureau estimates).
What a personal loan costs in Welaka
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Florida lending rules that apply in Welaka
Read the table as the compliance picture for a lender serving Welaka: label, sourced figure, publisher and date.
| 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 Welaka
The order below is a sensible way to approach a loan in Welaka:
- 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.