Beaver Dam at a glance
- Population: 3,498, the 98th-largest community in Kentucky out of 416 (US Census Bureau, Vintage 2023).
- 2020 Census base: 3,537 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 1.1% lower than the 2020 Census base (US Census Bureau).
- Rank among Kentucky places: the 98th-largest of 416 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 76% of places in Kentucky rank below it by population (US Census Bureau).
- Coordinates: mapped at 37.4038, -86.8736 by the US Census Bureau Gazetteer.
- Nearest larger cities: Central City, KY (16 mi); Greenville, KY (21 mi); Owensboro, KY (28 mi); Leitchfield, KY (33 mi); Madisonville, KY (35 mi); US Census Bureau population estimates.
- Smaller places close by: McHenry, KY (3 mi); Hartford, KY (4 mi); Centertown, KY (7 mi) (US Census Bureau).
What a personal loan costs in Beaver Dam
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Kentucky lending rules that apply in Beaver Dam
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer Loan Company license required (KRS Chapter 286.4) Source says: "How to License a Consumer Loan Company: 1. Read KRS 286.4 and the applicable administrative regulations under KAR 808, Chapter 6". | Kentucky Department of Financial Institutions as of 2026-09-16 |
| State lending regulator | Kentucky Department of Financial Institutions (DFI) Source says: "The Department of Financial Institutions' mission is to serve Kentucky residents by promoting access to a stable financial industry, implementing effective and efficient regulatory oversight". | Kentucky Department of Financial Institutions as of 2026-09-16 |
| Consumer Loan Company license — statutory basis | License required from the commissioner to make loans at a greater rate of interest than otherwise permitted by law Source says: "No person shall, without first obtaining a license from the commissioner, engage in the business of making loans ... at a greater rate of interest". | Kentucky Legislative Research Commission (Kentucky Revised Statutes) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Up to 19% per annum, or 4% over the 90-day commercial-paper discount rate, whichever is less (by written agreement) Source says: "At a per annum rate not to exceed four percent (4%) in excess of the discount rate on ninety (90) day commercial paper ... or nineteen percent (19%), whichever is less". | Kentucky Legislative Research Commission (Kentucky Revised Statutes) as of 2026-09-16 |
| Payday lending status | Permitted under license (deferred deposit service business; payday loans) Source says: "The Kentucky Department of Financial Institutions (DFI) has secured the services of Veritec Solutions, LLC to provide a common database with real-time access for deferred deposit transactions". | Kentucky Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Beaver Dam
A few practical steps will make the process in Beaver Dam less costly:
- 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 Kentucky using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.