- Payday loans in Springfield 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 Panama, about 4 miles away.
Springfield at a glance
| Springfield | |
|---|---|
| Population (2024 Census estimate) | 8,495 |
| Change since 2020 | +5.7% (growing fast) |
| County | Bay County |
| Size rank among 393 Florida places we cover | 184th |
| Nearest larger city | Panama (about 4 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Credit unions headquartered in Bay County | 4 |
| Other towns within 25 miles | 7 (about 101,270 residents) |
| Typical payday APR statewide (CRL 2023) | 293% |
Whether you borrow at a storefront in Panama or online from Springfield, the lender must hold a Florida license from the Florida Office of Financial Regulation and follow state limits.
Credit unions near Springfield
No credit union has its main office in Springfield, but these are based elsewhere in Bay County (NCUA, June 2026):
- Tyndall Federal Credit Union in Panama City (federal charter — may offer payday alternative loans (PALs))
- Hello Credit Union in Panama City (state charter)
- Panhandle Credit Union in Panama City (state charter)
- Innovations Financial Credit Union in Panama City (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 Springfield
Key Florida limits that apply to Springfield borrowers: 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 Springfield
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 Bay County before you borrow
- Credit union payday alternative loans (PALs): $200–$2,000 at no more than 28% APR. Search for a federal credit union in Springfield that offers them. See how PALs work.
- Your bank’s small-dollar loan, if it offers one. See bank small-dollar loans.
- Cash advance apps for $20–$500 based on your direct deposits. See apps compared.
- 211: call or text 211 for local help with rent, utilities and food.
Towns near Springfield
- Parker · 3 mi
- Panama · 4 mi
- Callaway · 4 mi
- Lynn Haven · 5 mi
- Panama City Beach · 17 mi
- Mexico Beach · 19 mi
The nearest larger city is Panama, about 4 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 Springfield?
Yes. Payday loans are legal in Springfield under Florida state law, and lenders must be licensed by the Florida Office of Financial Regulation.
How much does a payday loan cost in Springfield?
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 Springfield?
No credit union is headquartered in Springfield, but Tyndall Federal Credit Union is based in Panama City, also in Bay 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