Bascom at a glance
- Population: 90 people, the 405th-largest place among Florida's 411 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 87 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: up roughly 3.4% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Florida places: 405th out of 411 Census places (US Census Bureau).
- Size percentile: larger than about 1% of the Census places in Florida (US Census Bureau).
- Coordinates: latitude 30.9278, longitude -85.1181 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Malone, FL (3 mi); Greenwood, FL (5 mi); Jakin, GA (14 mi); Cottonwood, AL (14 mi); Marianna, FL (14 mi) (US Census Bureau).
- Smaller places close by: Blue Springs, AL (56 mi); Petrey, AL (90 mi); Dooling, GA (114 mi) (US Census Bureau).
What a personal loan costs in Bascom
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.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Florida lending rules that apply in Bascom
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Bascom
Before you commit to a personal loan in Bascom, work through these steps:
- 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.