Bad Credit Personal Loans in Orlando, FL

People living in Orlando, FL, may be able to get access to what they need with a bad credit personal loan. A personal loan may be used to make larger purchases, with the added benefit of paying over time instead of all at once, which may be ideal for items like tires, furniture, and appliances.

 

In this article we’ll go over:

  • What to know about bad credit
  • Important details about getting a bad credit loan in Orlando
  • Personal loan options available in Orlando, FL

 

A bad credit personal loan may be an option to pay for larger items over time, but it’s also important to consider how much you can afford.

Understanding Bad Credit

Many traditional financing institutions such as credit unions or banks may use income and credit scores to help make approval decisions. Sometimes they may use other tools as well.

 

However, if you have bad credit, securing a loan from traditional financing institutions may not be a wise idea since they usually look for a good to excellent credit score. However, the good news is if you have an imperfect credit score or have had events like bankruptcy affect your credit in the past, payment solutions providers may be able to help you access products and services you want or need.

Florida-Specific Considerations

Getting a bad credit loan in Florida may not be as difficult as you think, thanks to the rise of alternative payment solution providers. Also, few rules and regulations in Florida mean more options may be available to borrowers.

 

While there are few regulations, there are still several requirements that lenders or alternative payment solution providers must meet. Like all states, Florida is regulated by the FTC.

 

In addition to being regulated by the FTC, lenders or payment solution providers must also register with the Florida Office of Financial Services. The state does not set any maximums for a bad credit loan. However, the state of Florida does impose a $500 maximum loan amount on payday loans and allows only one payday loan at a time. Of course, it’s a good idea to do your due diligence by reading through disclosures and loan agreements before signing an agreement.

Personal Loan & Alternative Options in Florida

Borrowers in Orlando may benefit from a bad credit person loan, but they may also have other options. Other loans, such as payday loans and car title loans, may be ways to get funding with bad credit.

 

However, some of these options may come with quick repayment windows, so you might want to weigh your options before signing an agreement.

 

You might be wondering: Is a lease the same as a loan?

 

Leases & loans are quite different – here’s what you need to know:

 

  • A loan (or personal loan) is generally a lump sum of funds provided on the recipient’s behalf that is paid back over time (and, like most loans, includes interest.)
  • A lease (or lease-to-own option) allows the recipient to possess the leased item for a pre-determined period and includes the option to purchase the item outright. It does not include interest but has leasing fees.

What Products or Services Can a Bad Credit Loan Get You?

A bad credit loan may be used to purchase a variety of items. However, check with the merchant first for what items may qualify for financing.** Additionally, loans may be subject to approval; not everyone will be approved, but having bad credit doesn’t automatically mean you’ll be denied.

 

If approved, a bad credit loan may be used to purchase popular items such as electronics, like a computer. A recent study indicates that a large percentage of Americans do not own a computer, due to affordability. A bad credit loan may be able to help. Also, a bad credit loan may be an option for purchasing other electronics such as a new TV or laptop.

 

Another way a bad credit loan may help is with home improvements. The Orlando housing market is still growing so now may be the perfect time for improvements, like installing new appliances or washers and dryers to ensure your property maintains its value.

 

Other items that may qualify for bad credit loans include:

Orlando, FL Bad Credit Loan FAQs

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Can you realistically get a loan in Orlando with bad credit?
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What’s considered “bad credit”?
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Are there other payment solutions that might work with bad credit?

Sources:

Florida Office of Financial Regulations – Payday Lenders
https://flofr.gov/sitePages/PaydayLenders.htm

 

Experian – 7 Things Lenders Look at Besides Your Credit Score
https://www.experian.com/blogs/ask-experian/7-things-lenders-look-at-besides-your-credit-score/

 

Pew Research Center – Digital divide persists even as Americans with lower incomes make gains in tech adoption
https://www.pewresearch.org/short-reads/2021/06/22/digital-divide-persists-even-as-americans-with-lower-incomes-make-gains-in-tech-adoption/

 

The World Property Journal – Greater Orlando Area Home Prices Reach Record High in April
https://www.worldpropertyjournal.com/real-estate-news/united-states/orlando-real-estate-news/real-estate-news-orlando-home-price-data-april-2024-orra-housing-reports-orlando-home-sales-data-april-2024-rose-kemp-orlando-regional-realtors-associ-14123.php

 

Bankrate – What you need to know about your credit score
https://www.bankrate.com/credit-cards/advice/what-is-a-credit-score/#what-is-a-good-credit-score

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1 Application Terms: Your application, including the amount, cost, and approval, is subject to review and is not guaranteed. Applications are reviewed based on data you provide and one or more of the following: identity verification, bank verification, information from a third-party, a credit reporting agency, and/or prior experience through American First Finance (AFF).

Bank Loan: A consumer installment loan is originated by FinWise Bank, a Utah-chartered bank, Member FDIC and sub-serviced by AFF. The loan may be funded by the bank to the merchant for you to purchase item(s) and/or service(s). In some cases, the loan for returning customers is funded directly to your checking account for personal, family or household use.

Retail Installment Sale Agreement: A retail installment agreement is not a loan. You may enter into a Retail Installment Sale Agreement with a merchant to purchase item(s) and/or service(s). AFF may purchase the Agreement from the Merchant. An example of a retail installment transaction based on a 12-month term with 26 biweekly payments: if you make a purchase of $1,000 and make a $50 down payment with an Annual Percentage Rate (APR) of 169.53%, you will have 25 bi-weekly payments of $74.79 and 1 bi-weekly payment of $75.06. The total amount repayable will be $1,944.81 with full, timely payments over 12 months.

Lease: A lease is not a loan or credit transaction. It has several names: lease, lease-to-own, rent-to-own, or rental-purchase. With a lease, you select the item(s) and AFF purchases the item(s) from a Merchant. You take the item(s) home. AFF retains ownership until you pay for the item(s) plus rental fees. Other fees may be included, such as late, non-sufficient funds, delivery, and optional Liability Damage Waiver fees. As a result, the total amount you pay for leasing an item may be more than double the retail cost. You can cancel your lease at any time without penalty by contacting AFF. An example of a 12-month lease with weekly payments: if you lease a $1,000 item and pay a $50 (plus tax) processing fee, you will have 52 additional weekly rental payments of $46.11 to complete your lease. Your total lease payments will be $2,452.21 with full, timely payments over 12 months.

2 You will save money on interest, finance charges, or leasing fees when you pay the discounted amount during the Early Payoff Discount (EPD) period or by exercising the Early Buyout Option (EBO). You must make payments larger than your regularly scheduled payments by the EPD/EBO expiration date. You will make additional payments through the customer portal or by contacting the customer service team.

3 Decisioning may take additional time and not be same day. Additional information may be required.

4 This loyalty program is offered by FinWise Bank. The program provides loyal customers the opportunity to qualify for a lower rate. A rate reduction is valid on new loans only and cannot be applied to existing loans. The rate reduction is only applicable to customers with a prior loan open for at least 150 days, with all payments posted and cleared on time for the life of the loan, and the loan has been paid in full. Maximum of two (2) rate reductions per customer. Loans are originated by FinWise Bank, a Utah-chartered bank, Member FDIC. Terms and conditions subject to change at any time without prior disclosure or notice.

5 Approval is possible without a credit score, but credit may be checked.

6 Testimonials reflect the real-life experiences of customers who used our products and/or services. Individual results may vary.

To report a problem or complaint with this lender, you may write info@americanfirstfinance.com or call customer service at (855) 721-1188.

American First Finance, LLC – NMLS ID 1757007

© 2025 American First Finance. All Rights Reserved.