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Loren, Attorney
Category: Business Law
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Experience:  30 years experience representing clients .
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Is there usury law applied when lending to a corporation in

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Is there usury law applied when lending to a corporation in Florida? I'm providing a short term loan to a friend's business for business needs and use.
Thank you for using JustAnswer. I am JudgeLaw and I will do whatever I can to answer your question and provide you excellent service.

Florida usury laws do not apply to commercial loans. The usury laws apply to personal loans between individuals. Commercial loans are contractual and what the parties agree upon in contract.

The usury statute in Florida defines a borrower as a "person".

It is my privilege to assist you. Let me know if you need further information.  I hope I have helped you beyond your expectations in the service I have provided to you.  I am here for you.

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Thank you.

Customer: replied 3 years ago.

Hi JudgeLaw,


Thanks for such a concise answer. To make sure I am clear, is there any law out there in FL that will regulate how I structure my loan and terms to this corporation? If so, what's the name of the law/regulation? Is there a maximum interest rate?



Thank you for following up. No, as far as usury is concerned, the borrower must be a person. Otherwise, as a commercial loan, the terms are whatever the parties agree.

For the purpose of usury, if there is a personal guaranty or other personal obligation on the borrower you are limited to 18% per annum in interest for loans up to $500,000.

As always, refer to local counsel to protect your rights in this matter before taking any action.

Thank you.

Customer: replied 3 years ago.

Is it a interest of 18% annually or can we calculate bi-annually? Does it regulate those details?

The statute state an 18% per annum, simple interest rate. So, a bi-annual calculation is not permitted.
Customer: replied 3 years ago.


You are very welcome. I am happy to have been of service to you and hope you found that service no less than excellent.

Thank you.


If you have not already do so, please remember to leave a favorable rating so that I am paid for assisting you.
Loren and 2 other Business Law Specialists are ready to help you
Thank you for your positive rating of my service to you. Let me know if you need more help or have future questions. I will be here for you. Just ask for me by name at the start of your question - "JudgeLaw" or use the following link (which you can bookmark in your browser):

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Customer: replied 3 years ago.

No problem. Thanks for your help!

You are very kind.

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