- Payday loans in Palm Bay 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 Orlando, about 48 miles away.
Palm Bay at a glance
| Palm Bay | |
|---|---|
| Population (2024 Census estimate) | 142,023 |
| Change since 2020 | +18.2% (growing fast) |
| County | Brevard County |
| Size rank among 393 Florida places we cover | 15th |
| Share of Florida’s population | 0.6% |
| Nearest larger city | Orlando (about 48 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Brevard County | 3 |
| Other towns within 25 miles | 14 (about 193,626 residents) |
| Typical payday APR statewide (CRL 2023) | 293% |
There is no separate Palm Bay payday law: Florida rules apply here, and any lender serving Palm Bay residents, online or in person, needs a license from the Florida Office of Financial Regulation.
Credit unions near Palm Bay
No credit union has its main office in Palm Bay, but these are based elsewhere in Brevard County (NCUA, June 2026):
- Community Credit Union of Florida in Rockledge (state charter)
- Space Coast Credit Union in Melbourne (state charter)
- Launch Credit Union in Merritt Island (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.
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Payday loan rules that apply in Palm Bay
| 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 Palm Bay
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 Brevard County before you borrow
Before a payday loan, Palm Bay residents can usually find something cheaper:
- Local assistance through 211 covering Brevard 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 Palm Bay
- Malabar · 6 mi
- Grant-Valkaria · 6 mi
- West Melbourne · 7 mi
- Melbourne Village · 9 mi
- Melbourne Beach · 10 mi
- Melbourne · 11 mi
The nearest larger city is Orlando, about 48 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 Palm Bay?
Yes. Payday loans are legal in Palm Bay under Florida state law, and lenders must be licensed by the Florida Office of Financial Regulation.
How much does a payday loan cost in Palm Bay?
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 Palm Bay?
No credit union is headquartered in Palm Bay, but Community Credit Union of Florida is based in Rockledge, also in Brevard 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