Clarkson at a glance
- Population: a Census-estimated 953, placing it 209th among Kentucky's 416 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 936 (US Census Bureau).
- 2020 to 2023 change: about 1.8% more residents than the 2020 Census base (US Census Bureau).
- Rank among Kentucky places: 209th by size among 416 communities (US Census Bureau).
- Size percentile: it is larger than about 50% of the places in Kentucky (US Census Bureau).
- Coordinates: mapped at 37.4929, -86.2270 by the US Census Bureau Gazetteer.
- Nearest larger cities: Leitchfield, KY (3 mi); Hardinsburg, KY (23 mi); Munfordville, KY (23 mi); Elizabethtown, KY (24 mi); Vine Grove, KY (26 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Caneyville, KY (16 mi); Upton, KY (18 mi); Sonora, KY (18 mi) (Census populations).
What a personal loan costs in Clarkson
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
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.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Kentucky lending rules that apply in Clarkson
The Kentucky rate caps and licensing rules that reach Clarkson are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Clarkson
The order below is a sensible way to approach a loan in Clarkson:
- 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.