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Best Personal Loans in Orlando, FL

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Written by Sandi Pope

While some Orlando residents are celebrities and professional golfers, most are families of limited means. According to the U.S. Census Bureau, the city's median household income of $52,385 is one of the lowest in metro areas. Personal loans help students, families and professionals make ends meet.

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Top 13 Orlando Personal Loan Companies

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For Orlando residents, a personal loan can be a practical option for quickly getting access to funds for expenses such as vacations or hospital bills. Personal loans typically have lower interest rates than credit cards and fixed payments over the length of the loan.

Choosing a personal loan in Orlando, FL

Not all personal loans are created equal. If you are considering using a personal loan to help you pay for a vacation, buy a car or cover moving costs, it's essential to understand the type of loan that works best for you.

  • If you’re looking to make a major purchase, you may want to use a secured personal loan to cover the cost. A secured loan uses collateral the lender can seize if you default on payments and typically has a lower interest rate than an unsecured loan.
  • Students at the University of Central Florida might consider taking out a personal loan to help cover the cost of college life. However, students may need a co-signed personal loan since they generally don't have much credit history.
  • Real estate investment is a trendy industry in the Orlando area. Investors looking to renovate and rehab houses in cities like Clermont and Apopka may take out a variable-rate loan if they expect to pay it back in a short amount of time. These loans can help them afford to make renovations and flip a property for a quick profit.

State requirements for Orlando personal loans

While most lenders help residents borrow money safely and securely, there are some who prey on borrowers in a vulnerable financial situation. Florida has caps and requirements to protect consumers. Some of the rules and regulations regarding personal loans in Florida include an interest rate cap of 18% for loans of $500,000 or less and a cap of 25% for loans greater than $500,000. National banks are exempt from this interest rate cap.

Picking an Orlando lender

Choosing a lender is a significant decision. You must be confident that the lender specializes in the type of loan you need. As you continue your search for a personal loan lender, ask yourself:

  • Do you prefer to work with a local company or national company?
  • Do you prefer to work face-to-face with a lender, or would an online company be more convenient?
  • What banking services do you require?

Once you settle on your requirements, home in on a lending institution. A few tips for narrowing your options are:

  • Get recommendations from friends and family
  • Research a lender’s rates, penalties and extra fees
  • Explore a lender’s reputation for being honest and transparent
  • Find online reviews to see what others have to say about customer service
  • Check the Consumer Financial Protection Bureau for reports filed against any lender you're considering

Orlando personal loan FAQ

What's the best online loan company?
Getting to a physical banking location is difficult for busy Orlando residents, so we've included online loan companies at the top of our list. These companies offer secure online applications and other financial services that do not require meeting a lender face to face.
Can I get a loan with an Orlando credit union?
Yes. Credit unions are popular places for Orlando residents to take out personal loans because they often have lower interest rates than traditional banks.
Is there a loan for people with bad credit?
Many lenders don't have minimum credit requirements, but your credit score is used to determine your interest rate, payback terms, term limits and the maximum amount you can borrow. If bad credit is keeping you from qualifying for the loan that you need, you can also explore payday loans.
How can I get a $1,000 loan in Orlando?
If you need a $1,000 loan in Orlando and don't know where to start, check our list of online lenders and local banks. Remember that each bank or institution has different loan offers, interest rates, fees and penalty policies.

Not sure how to choose?

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    Orlando personal loan company information

    McCoy Federal Credit Union

    McCoy Federal Credit Union allows consumers to make their loan payments online. You can get lower interest rates by signing up for direct deposit on your payroll or retirement funds, having a McCoy Federal Visa debit card and credit card in good standing for one year or more or being a member of McCoy Federal Credit Union for 10 consecutive years.

    • Address: 5620 L B McLeod Road, Orlando, FL 32811
    • Phone: (407) 855-5452
    • Hours: M - Th: 9am - 5pm; F: 9am - 6pm
    • Website: mccoyfcu.org
    Insight Credit Union

    Insight Credit Union provides a full range of financial services to residents and workers in most Central Florida counties. To become a member, make a minimum $25 donation to The Foundation for Seminole County Public Schools, Orange County Public Schools or The Educational Foundation of Lake County. Members receive lower interest rates on loans.

    • Address: 6017 South Goldenrod Road, Ste. 100-A, Orlando, FL 32822
    • Phone: (407) 426-6000
    • Hours: M - Th: 9am - 5pm; F: 9am - 6pm
    • Website: insightcreditunion.com
    Orlando Credit Union

    Orlando Credit Union offers a share-secured loan for borrowers with credit challenges. This loan has terms from 12 months to 15 years. This specific loan allows you to borrow against the money you have in your shared savings account. The credit union's unsecured loans have terms up to 60 months.

    • Address: 1117 S. Westmoreland Drive, Orlando, FL 32805
    • Phone: (407) 835-3500
    • Hours: M - W: 9am - 5pm; Th: 10am - 5pm; F: 9am - 6pm; Sat: 9am - 12pm
    • Website: orlandocreditunion.org
    Priority Credit Union

    Priority Credit Union has six branches throughout Central Florida. The application and closing processes are fast and easy, and there is no application fee. The minimum payment is $25 or 3% of the outstanding balance for an unsecured line of credit.

    • Address: 301 E. Michigan St., Orlando, FL 32806
    • Phone: (407) 425-2561
    • Hours: M - F: 8:30am - 5:30pm; Sat: 9am - 12pm
    • Website: prioritycu.org
    AdventHealth Credit Union

    There are many ways to be an AdventHealth Credit Union member, including working for AdventHealth, attending AdventHealth University or donating to the AdventHealth Foundation. To qualify, you need a valid government-issued picture ID, proof of membership eligibility and a minimum $5 deposit to your share savings account.

    • Address: 601 E. Rollins St., Orlando, FL 32803
    • Phone: (407) 303-1527
    • Hours: M - F: 9am - 4pm; F: 7am - 2pm
    • Website: adventhealthcreditunion.org
    Platinum Federal Credit Union

    Platinum Federal Credit Union has flexible terms ranging from 12 to 72 months. The credit union approves loans within a day or two, and it can lend up to $49,900. One or two guarantors are required based on the borrower's income and credit.

    • Address: 7041 Grand National Drive, Ste. 201, Orlando, FL 32819
    • Phone: (407) 226-0720
    • Hours: M - F: 9am - 5pm
    • Website: platinumfcu.org
    Wings Financial Credit Union

    Get approval quickly when you apply online at Wings Financial Credit Union. Home improvement loans have terms ranging from 48 to 72 months and APRs starting at 6.99%.

    • Address: 9647 Tradeport Drive, Orlando, FL 32827
    • Phone: (952) 997-8000
    • Hours: M - F: 8:30am - 4:30pm
    • Website: wingsfinancial.com