Carrollton at a glance
- Population: roughly 3,914 people; 92nd of 416 places in Kentucky (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 3,881 (US Census Bureau).
- 2020 to 2023 change: up roughly 0.9% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Kentucky places: 92nd largest of 416 (US Census Bureau).
- Size percentile: it exceeds roughly 78% of Kentucky's Census places by population (US Census Bureau).
- Coordinates: 38.6796, -85.1658 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Madison, IN (14 mi); La Grange, KY (23 mi); Crestwood, KY (29 mi); Crittenden, KY (31 mi); Williamstown, KY (32 mi) (US Census Bureau).
- Smaller places nearby: Prestonville, KY (2 mi); Brooksburg, IN (6 mi); Vevay, IN (6 mi), per US Census Bureau estimates.
What a personal loan costs in Carrollton
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
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 Carrollton
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 |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Carrollton
The steps below are worth completing first when you borrow in Carrollton:
- 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.