Personal Loans in Miami, FL (Near You) Online or in Store

Loans for any reason ($100 - $35,000):

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In Miami, FL, personal loans are the largest form of loan available outside mortgages. If you're not using your bank you can also apply for personal loans from storefront lenders or online lenders.

And, while you can borrow up to $35,000, no collateral or guarantor is required if you meet the basic eligibility requirements.

Personal loans are a big financial obligation and should only be used if you need to borrow more than $5,000 over a long period of time.

For example, if you wish to buy a new car, renovate or extend your home, or travel internationally for an extended period.

Despite their size, personal loans are now available to apply for online in Miami, which means you could receive the cash in as fast as one working day if you apply during the 5-day working week.

If you wish to borrow a smaller amount you may wish to look at installment loans (up to $5,000) or payday loans, which are designed specifically to tide you over until your next payday.

How do personal loans work in Miami, FL?

A personal loan is intended to be spread out over a long period of time so the borrower can manage a large sum of money.

In Miami, which is governed by Florida state law, this period varies between 3 to 60 months (roughly 5 years). The borrower must also pay an interest rate on top of the principal amount borrowed, known as the Annual Percentage Rate (APR).

An increasing number of people in Miami are now avoiding the lines at the lending store and quickly applying online, where there's no physical paperwork and you'll know onscreen if you've been approved.

Furthermore, our simple loan connection tool streamlines the online process by passing your request through a network of licensed and accredited lenders in Miami, so you don't have to search them out and apply one-by-one.

If you are connected with a lender, we'll direct you to their page where you can complete the application in just a few more minutes if you have your digital statements on hand to attach to the application if requested.

Lenders will then usually take no longer than one working day to deposit the funds, with repayments automatically taken from the same bank account as per the repayment schedule.

Are personal loans unsecured in Miami, Florida?

Yes, although you can borrow up to $35,000 there is no requirement under Florida regulations for borrowers to provide collateral in Miami.

What this means is your home or other valuable property cannot be seized if you struggle to make repayments. However, you will still negatively impact your credit rating.

The good news is that a personal loan can have a maximum duration of 5 years (60 months), which means your monthly repayment amount will be easy to manage if you earn the required $1,000 per month minimum.

Even if you have bad credit you are permitted to apply, and your application will be fairly assessed. You do not need a guarantor or co-signer to secure the loan. However, you are not guaranteed to be offered the amount you request if it does not match your current financial circumstances.

Loans for any reason ($100 - $35,000):

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Personal Loan Interest Rates in Miami (FL)

Florida state law regulates personal loans in Miami, which means there are limits on the interest that can be charged, though the amount you borrow, the loan duration, and your personal financial situation will also impact the rate offered by a lender within these regulations.

As we are not a lender ourselves, we cannot predict what rate you will receive, however, regulations stipulate that it will fall between 4.99% and 18% annually.

So, if you borrowed $14,000 over 24 months, the maximum you can be charged in interest is $5040, because 18% of $14,000 annually is $2,520, and over two years that's $5,040. Monthly, that is roughly $210.

Of course, your actual rate is likely to be much lower than this because multiple lenders are vying for business.

You do not have to worry about hidden fees or extra interest as the lender must provide a full copy of the loan terms and conditions before you sign the agreement. This will be in digital form if you apply online.

Florida residents are protected by law, preventing legal convictions if they fail to repay personal loans.

Miami personal loan requirements

  • Are you a resident of Miami, with a fixed address and US citizenship?
  • Are you at least 18 years of age?
  • Do you have a social security number?
  • Do you make at least $1,000 per month in verifiable income?
  • Do you have a bank account in your name with checking facilities?

If you answered "yes" to these basic requirements, then you are eligible to apply for a personal loan of up to $35,000 in Miami today.

Use our loan connection tool or browse our directory to find your closest lender or a suitable online lender.

Miami, FL personal loans are available for the following zip codes: 33101, 33122, 33125, 33126, 33127, 33128, 33129, 33130, 33131, 33132, 33133, 33134, 33135, 33136, 33137, 33138, 33142, 33143, 33144, 33145, 33146, 33147, 33150, 33155, 33156, 33157, 33158, 33161, 33162, 33165, 33166, 33167, 33168, 33169, 33170, 33172, 33173, 33174, 33175, 33176, 33177, 33178, 33179, 33180, 33181, 33182, 33183, 33184, 33185, 33186, 33187, 33189, 33190, 33193, 33194, 33196, 33233, 33296, 33148, 33110, 33197, 33102, 33257, 33243, 33192, 33299, 33153, 33242, 33152, 33111, 33269, 33247, 33124, 33188, 33283, 33261, 33238, 33255, 33231, 33121, 33245, 33116, 33114, 33265, 33195, 33151, 33234, 33107, 33199, 33154, 33280, 33163, 33256, 33159, 33266, 33164.

Beware of misleading personal loan websites

While we do our best to vet every lender in our directory, it is always wise to look out for any misleading language or false promises before completing an application on a lender website.

Terms such as guaranteed or instant approval, or promising no credit check, is usually a sign that not everything is above board.

Of course, applying online (particularly via our tool) is fast and easy, but it still isn't instant. Likewise, some form of a credit check will be carried out if you are borrowing a large amount of money.

That doesn't mean those with bad credit aren't routinely approved, but lenders still need to verify your identity and income before making a decision and offer.

Personal loan alternatives in Miami, FL

Because they are the largest form of loan, personal loans aren't suitable for all borrowers.

Specifically, those who need less than $5,000 or are only covering themselves until payday. In those scenarios, you are better off with installment loans or payday loans.

Personal loan companies in Miami, FL:

5805 Blue Lagoon Dr., #280, Miami, 33126

(305) 265-6652

3785 Nw 82 Ave., #112, Miami, 33166

(305) 463-0050

4425 Ponce De Leon Blvd Fl 5, Miami, 33146-1837

(866) 783-8763

3035 Sw 98th Ct, Miami, 33165-2962

(305) 992-8823

16804 Sw 137th Ave, Miami, 33177-2371

(321) 730-9017

7333 Coral Way, Suite D, Miami, 33155

(305) 462-0000

60 N.e. 104th Street, Miami, 33138

(786) 533-2184

2965 Sw 8th St, Miami, 33135

(786) 485-7438

190 N.e. 199th Street, Suite207, Miami, 33179

(305) 249-5783

1450 Madruga Avenue, Suite 306, Miami, 33146

(305) 665-7747

168 Se 1st St, Miami, 33131-1403

(305) 677-2352

9100 Dadeland Blvd. Suite 704, Miami, 33156

(305) 671-2894

12515 North Kendall Dr., Ste.326, Miami, 33186

(305) 598-1208

7950 Nw 53rd St Ste 337, Miami, 33166-4791

(888) 505-5835

Po Box 025724, Miami, 33102

(866) 840-0440

21414 West Dixie Highway, Miami, 33180

(888) 411-0939

2332 Galiano St, Miami, 33134

(786) 219-0764

175 Sw 7th St Ste 1214, Miami, 33130-2952

(855) 382-2290

1221 Brickell Ave, Miami, 33131-3224

(855) 850-0068

1430 S Dixie Hwy Ste 308, Miami, 33146-3173

(888) 358-3444

4557 Sw 71st Ave, Miami, 33155

(305) 921-0037

2255 Glades Rd, Miami, 33101

(954) 246-4455

1101 Brickell Avenue, Miami, 33131

(877) 484-2461

351 Minorca Ave, Miami, 33134

(866) 339-3936

1221 Brickell Ave Ste 900, Miami, 33131-3800

(786) 565-5198

10 Nw 42nd Ave. Suite 400, Miami, 33126

(305) 445-1222

2121 Ponce De Leon Blvd., Miami, 33134

(800) 400-5992

175 Sw 7th Suite 1900, Miami, 33130

(305) 771-7551

1220 N.w. 207th Street, Miami, 33169

(305) 688-1851

1200 Brickell Ave Ste 310, Miami, 33131-3209

(800) 832-7006

Miami (Florida) views and facts:

Miami
Population: 470,911
Average car ownership: 1
Median age: 40.5
Median household income: 41,818
Median property value: 350,400
Homeownership rate: 30.6