Vernon at a glance
- Population: about 745, 351st by size in Florida of 411 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 728 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: up about 2.3% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Florida places: the 351st-largest of 411 (US Census Bureau, 2023 estimate).
- Size percentile: about 15% of places in Florida are smaller (US Census Bureau).
- Coordinates: 30.6122, -85.7003 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Bonifay, FL (12 mi); Chipley, FL (15 mi); Cottondale, FL (23 mi); DeFuniak Springs, FL (26 mi); Lynn Haven, FL (26 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Wausau, FL (7 mi); Caryville, FL (13 mi); Westville, FL (14 mi) (US Census Bureau).
What a personal loan costs in Vernon
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
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.
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 Vernon
The Florida rate caps and licensing rules that reach Vernon are listed below, each with its source and retrieval 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 Vernon
Before you share your details with a lender in Vernon:
- 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.