South Bay at a glance
- Population: a Census-estimated 4,861, placing it 231st among Florida's 411 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 4,859 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: stable between the 2020 base and the 2023 estimate (US Census Bureau).
- Rank among Florida places: 231st by size among 411 communities (US Census Bureau).
- Size percentile: about 44% of Florida's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 26.6884, -80.7355.
- Nearest larger cities (within 120 miles): Belle Glade, FL (4 mi); Pahokee, FL (10 mi); Clewiston, FL (13 mi); Westlake, FL (27 mi); Indiantown, FL (29 mi) (US Census Bureau populations).
- Smaller places nearby: Moore Haven, FL (25 mi); Loxahatchee Groves, FL (28 mi); Haverhill, FL (38 mi), per US Census Bureau estimates.
What a personal loan costs in South Bay
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Florida lending rules that apply in South Bay
Read the table as the compliance picture for a lender serving South Bay: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in South Bay
These steps are the ones that most affect the offer you receive in South 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.