Cleveland at a glance
- Population: 49,086 residents, the 16th-largest of 344 places in Tennessee (US Census Bureau, Vintage 2023).
- 2020 Census base: 47,807 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 2.7% more residents than the 2020 Census base (US Census Bureau).
- Rank among Tennessee places: 16th largest of 344 (US Census Bureau).
- Size percentile: it exceeds roughly 95% of Tennessee's Census places by population (US Census Bureau).
- Coordinates: latitude 35.1800, longitude -84.8713 (US Census Bureau Gazetteer).
- Nearest larger cities: Chattanooga, TN (23 mi); Knoxville, TN (75 mi); Alpharetta, GA (84 mi); Roswell, GA (84 mi); Marietta, GA (87 mi); US Census Bureau population estimates.
- Nearest smaller communities: Charleston, TN (10 mi); Calhoun, TN (11 mi); Benton, TN (12 mi) (Census populations).
What a personal loan costs in Cleveland
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Tennessee lending rules that apply in Cleveland
Each row below is a Tennessee rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Licensed; deferred presentment services (payday) lenders must obtain a TDFI license, including internet lenders (Tenn. Code Ann. § 45-17-103) Source says: deferred presentment services in this state through the use of the internet, facsimile, telephone, or other means without having first obtained a license | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | TDFI Compliance Division licenses industrial loan & thrift companies, deferred presentment companies, flexible credit companies, and other consumer lenders Source says: The Compliance Division is responsible for the licensing and regulatory supervision of the following types of financial institutions operating in Tennessee | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| State lending regulator | Tennessee Department of Financial Institutions (TDFI) Source says: The Department regulates banks, credit unions, trust companies, business and industrial development corporations, industrial loan and thrift companies | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10.75% per annum (maximum effective formula rate for written contracts, announced September 15, 2026) Source says: the maximum effective formula rate of interest in Tennessee is 10.75 percent per annum | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
How to compare offers in Cleveland
These steps are the ones that most affect the offer you receive in Cleveland:
- 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 Tennessee using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.