Allen at a glance
- Population: the Census estimates 111,620 residents, ranking 36th of 1,224 places in Texas (Vintage 2023).
- 2020 Census base: 104,646 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 6.7% more residents than the 2020 Census base (US Census Bureau).
- Rank among Texas places: 36th of 1,224 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 97% of places in Texas rank below it by population (US Census Bureau).
- Coordinates: 33.1097, -96.6730 (US Census Bureau Gazetteer).
- Nearest larger cities: Plano, TX (6 mi); McKinney, TX (6 mi); Frisco, TX (9 mi); Richardson, TX (10 mi); Garland, TX (14 mi); US Census Bureau population estimates.
- Nearest smaller towns: Fairview, TX (4 mi); Parker, TX (4 mi); Lucas, TX (5 mi) (US Census Bureau).
What a personal loan costs in Allen
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Texas lending rules that apply in Allen
The Texas rate caps and licensing rules that reach Allen are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Texas Office of Consumer Credit Commissioner (OCCC) Source says: The OCCC licenses and regulates non-depository lenders in the state of Texas. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per year maximum; a greater rate is usurious unless otherwise provided by law (Tex. Fin. Code § 302.001) Source says: The maximum rate or amount of interest is 10 percent a year except as otherwise provided by law. | Texas Legislature (Texas Constitution and Statutes) as of 2026-09-16 |
| Payday lending status | Legal via licensed credit access businesses (payday/title-loan brokers); the third-party lender itself is not licensed (Tex. Fin. Code ch. 393) Source says: the credit access business that serves as the broker is the licensee in this regulated industry | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Small-loan / installment lender licensing | License required for non-depository lenders charging more than 10% interest; Chapter 342 governs consumer loans (Tex. Fin. Code § 342.051) Source says: Non-depository lenders who engage in making, transacting, or collecting loans with a rate of interest greater than 10% must be licensed by the OCCC. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
How to compare offers in Allen
Run through this list before signing anything in Allen:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Texas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.