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Personal loans in Clay, KY

A personal loan in Clay is a fixed-payment installment loan, and the rate you are offered turns on your credit, your income and your existing debts. With roughly 994 people, Clay ranks 202nd of 416 Census places in Kentucky. The sourced table below lists the Kentucky rate caps and licensing rules a lender must follow on a loan made here.

By the Personalloaned Editorial Team · Last updated 2026-09-16

Compare rates Run the numbers first

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Clay at a glance

  • Population: roughly 994 people; 202nd of 416 places in Kentucky (Census Vintage 2023 subcounty estimate).
  • 2020 Census base: 1,030 residents (US Census Bureau, 2020 Census).
  • 2020 to 2023 change: population fell about 3.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
  • Rank among Kentucky places: 202nd by size among 416 communities (US Census Bureau).
  • Size percentile: roughly 51% of Kentucky's places have fewer residents (US Census Bureau).
  • Coordinates: 37.4759, -87.8203 (Census Gazetteer, US Census Bureau).
  • Nearest larger cities (120-mile radius): Providence, KY (7 mi); Sturgis, KY (10 mi); Morganfield, KY (15 mi); Marion, KY (17 mi); Sebree, KY (19 mi) (US Census Bureau).
  • Nearest smaller towns: Wheatcroft, KY (2 mi); Dixon, KY (8 mi); Nebo, KY (12 mi) — US Census Bureau populations.

What a personal loan costs in Clay

A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.

Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.

Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.

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 Clay

Read the table as the compliance picture for a lender serving Clay: label, sourced figure, publisher and date.

RuleDetailSource
Payday lending statusPermitted 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 licensingConsumer 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 regulatorKentucky 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 basisLicense 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

How to compare offers in Clay

Here is a short checklist for comparing personal loans in Clay:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Kentucky using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Clay?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Clay are the same as elsewhere in Kentucky.
How much can I borrow with a personal loan in Clay?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Clay require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Clay hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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