Cool at a glance
- Population: roughly 230 people; 1,138th of 1,224 places in Texas (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 207 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: an increase of about 11.1% since the 2020 count (US Census Bureau).
- Rank among Texas places: the 1,138th-largest of 1,224 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 7% of the Census places in Texas (US Census Bureau).
- Coordinates: mapped at 32.7983, -98.0123 by the US Census Bureau Gazetteer.
- Nearest larger cities: Millsap, TX (3 mi); Mineral Wells, TX (4 mi); Peaster, TX (9 mi); Dennis, TX (14 mi); Weatherford, TX (14 mi), each a US Census place with its estimated population.
- Smaller places nearby: Corral City, TX (50 mi); Megargel, TX (70 mi); Carl's Corner, TX (75 mi), per US Census Bureau estimates.
What a personal loan costs in Cool
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Texas lending rules that apply in Cool
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 | License required for non-depository lenders charging more than 10% interest; Chapter 342 governs consumer loans (Tex. Fin. Code § 342.051) Source says: Non-depository lenders who engage in making, transacting, or collecting loans with a rate of interest greater than 10% must be licensed by the OCCC. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| State lending regulator | Texas Office of Consumer Credit Commissioner (OCCC) Source says: The OCCC licenses and regulates non-depository lenders in the state of Texas. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per year maximum; a greater rate is usurious unless otherwise provided by law (Tex. Fin. Code § 302.001) Source says: The maximum rate or amount of interest is 10 percent a year except as otherwise provided by law. | Texas Legislature (Texas Constitution and Statutes) as of 2026-09-16 |
| Payday lending status | Legal via licensed credit access businesses (payday/title-loan brokers); the third-party lender itself is not licensed (Tex. Fin. Code ch. 393) Source says: the credit access business that serves as the broker is the licensee in this regulated industry | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
How to compare offers in Cool
Before you share your details with a lender in Cool:
- 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 Texas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.