- Payday loans in Lakeland 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.
- 2 credit unions are headquartered in Lakeland; ask about small-dollar loans before borrowing.
Lakeland at a glance
| Lakeland | |
|---|---|
| Population (2024 Census estimate) | 124,990 |
| Change since 2020 | +9.8% (growing fast) |
| County | Polk County |
| Size rank among 393 Florida places we cover | 18th |
| Share of Florida’s population | 0.5% |
| Nearest larger city | Tampa (about 33 miles) |
| Credit unions headquartered in town (NCUA) | 2, 1 federal |
| Credit unions headquartered in Polk County | 2 |
| Other towns within 25 miles | 15 (about 280,217 residents) |
| Typical payday APR statewide (CRL 2023) | 293% |
There is no separate Lakeland payday law: Florida rules apply here, and any lender serving Lakeland residents, online or in person, needs a license from the Florida Office of Financial Regulation.
Credit unions in Lakeland
These credit unions have their main office in Lakeland, according to NCUA call report data (June 2026):
- Publix Employees Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
- Midflorida Credit Union (state charter)
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 Lakeland
| Rule | Florida |
|---|---|
| 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) |
| Loans at once | One, checked through the state database |
| Cooling-off | 24 hours after a loan ends |
| Rollovers | Not allowed |
| If you cannot pay | A 60-day grace period at no extra charge if you complete credit counseling |
What a $300 loan costs in Lakeland
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 Polk County before you borrow
Before a payday loan, Lakeland residents can usually find something cheaper:
- Local assistance through 211 covering Polk 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 Lakeland
The nearest larger city is Tampa, about 33 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 Lakeland?
Yes. Payday loans are legal in Lakeland under Florida state law, and lenders must be licensed by the Florida Office of Financial Regulation.
How much does a payday loan cost in Lakeland?
At Florida’s maximum fee, borrowing $300 costs $30 (10% fee) plus a small verification fee. The typical statewide APR was 293% in 2023.
Are there credit unions in Lakeland?
Yes. NCUA data lists 2 credit unions with a main office in Lakeland, including Publix Employees Federal Credit Union and Midflorida Credit Union. Federal credit unions can offer payday alternative loans capped at 28% APR.
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