- Payday loans in Milton 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.
- 1 credit union is headquartered in Milton; ask about small-dollar loans before borrowing.
Milton at a glance
| Milton | |
|---|---|
| Population (2024 Census estimate) | 11,182 |
| Change since 2020 | +8.8% (growing fast) |
| County | Santa Rosa County |
| Size rank among 393 Florida places we cover | 166th |
| Nearest larger city | Pensacola (about 15 miles) |
| Credit unions headquartered in town (NCUA) | 1, 1 federal |
| Credit unions headquartered in Santa Rosa County | 1 |
| Other towns within 25 miles | 3 (about 61,436 residents) |
| Typical payday APR statewide (CRL 2023) | 293% |
There is no separate Milton payday law: Florida rules apply here, and any lender serving Milton residents, online or in person, needs a license from the Florida Office of Financial Regulation.
Credit unions in Milton
These credit unions have their main office in Milton, according to NCUA call report data (June 2026):
- Santa Rosa County Federal Credit Union (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.
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Payday loan rules that apply in Milton
In short, Florida rules that cover Milton 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 Milton
At Florida’s maximum fee, borrowing $300 costs $30 (10% fee) plus a small verification fee. Statewide, the typical APR on a $400 payday loan was 293% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Santa Rosa County before you borrow
Before a payday loan, Milton residents can usually find something cheaper:
- Local assistance through 211 covering Santa Rosa 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 Milton
The nearest larger city is Pensacola, about 15 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 Milton?
Yes. Payday loans are legal in Milton under Florida state law, and lenders must be licensed by the Florida Office of Financial Regulation.
How much does a payday loan cost in Milton?
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 Milton?
Yes. NCUA data lists 1 credit union with a main office in Milton, including Santa Rosa County Federal 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