- Payday loans in Key Biscayne follow Florida law (Florida Statutes s. 560.404 (deferred presentment)).
- Borrowing $300 at the state maximum costs $30 (10% fee) plus a small verification fee.
- The nearest larger city is Coral Gables, about 6 miles away.
Key Biscayne at a glance
| Key Biscayne | |
|---|---|
| Population (2024 Census estimate) | 15,111 |
| Change since 2020 | +2.5% (growing) |
| County | Miami-Dade County |
| Size rank among 393 Florida places we cover | 145th |
| Nearest larger city | Coral Gables (about 6 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Miami-Dade County | 11 |
| Other towns within 25 miles | 37 (about 2,123,315 residents) |
| Typical payday APR statewide (CRL 2023) | 293% |
There is no separate Key Biscayne payday law: Florida rules apply here, and any lender serving Key Biscayne residents, online or in person, needs a license from the Florida Office of Financial Regulation.
Credit unions near Key Biscayne
No credit union has its main office in Key Biscayne, but these are based elsewhere in Miami-Dade County (NCUA, June 2026):
- Educational Federal Credit Union in Miami (federal charter — may offer payday alternative loans (PALs))
- Miami Firefighters Federal Credit Union in Miami (federal charter — may offer payday alternative loans (PALs))
- Compass Financial Federal Credit Union in Hialeah (federal charter — may offer payday alternative loans (PALs))
- Hialeah Municipal Employees Federal Credit Union in Hialeah (federal charter — may offer payday alternative loans (PALs))
- Miami Federal Credit Union in Miami (federal charter — may offer payday alternative loans (PALs))
Only federal credit unions can offer payday alternative loans (PALs), capped at 28% APR; state-chartered credit unions often have their own small-loan products. Membership rules apply, and only main offices are listed here; find branches near you with the NCUA Credit Union Locator. See how PALs work.
Payday loan rules that apply in Key Biscayne
In short, Florida rules that cover Key Biscayne include: maximum loan: $500 (single-payment); $1,000 for installment deferred presentment; maximum fee: 10% of the amount provided, plus a verification fee; loan term: 7 to 31 days (installment: 60 to 90 days). See the full Florida payday loan rules.
What a $300 loan costs in Key Biscayne
The Center for Responsible Lending put the typical APR on a $400 payday loan in Florida at 293% (June 2023). For $300 at the state maximum, expect $30 (10% fee) plus a small verification fee. Check any offer with our payday loan calculator.
Other help in Miami-Dade County before you borrow
Before a payday loan, Key Biscayne residents can usually find something cheaper:
- Local assistance through 211 covering Miami-Dade County.
- A credit union payday alternative loan (max 28% APR). See PALs explained.
- Your bank’s small-dollar loan, if offered (compare banks).
- A cash advance app for $20–$500 (apps compared).
Towns near Key Biscayne
- Coral Gables · 6 mi
- Miami · 6 mi
- South Miami · 8 mi
- Miami Beach · 8 mi
- Pinecrest · 9 mi
- West Miami · 9 mi
The nearest larger city is Coral Gables, about 6 miles away. See all 393 Florida cities.
Need cash before payday?Send one free request to our lender network. We are not a lender; offers and rates come from lenders.
Request a loanFrequently asked questions
Are payday loans legal in Key Biscayne?
Yes. Payday loans are legal in Key Biscayne under Florida state law, and lenders must be licensed by the Florida Office of Financial Regulation.
How much does a payday loan cost in Key Biscayne?
At Florida’s maximum fee, borrowing $300 costs $30 (10% fee) plus a small verification fee. The typical statewide APR was 293% in 2023.
Where is the nearest credit union to Key Biscayne?
No credit union is headquartered in Key Biscayne, but Educational Federal Credit Union is based in Miami, also in Miami-Dade County.
Sources
- U.S. Census Bureau — City and town population totals, Vintage 2024
- U.S. Census Bureau — 2024 Gazetteer files (place locations)
- NCUA — Credit union call report data, June 2026 (FOICU)
- Florida Statutes s. 560.404
- Florida OFR — Payday lenders
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary