Cooleemee at a glance
- Population: 975 (US Census Bureau, Vintage 2023 subcounty estimate), the 338th-largest of 549 places in North Carolina.
- 2020 Census base: 944 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: roughly 3.3% higher than at the 2020 Census (US Census Bureau).
- Rank among North Carolina places: 338th largest of 549 (US Census Bureau).
- Size percentile: ahead of around 38% of North Carolina places in population terms (US Census Bureau).
- Coordinates: latitude 35.8112, longitude -80.5569 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Mocksville, NC (6 mi); Salisbury, NC (11 mi); Spencer, NC (11 mi); East Spencer, NC (12 mi); Granite Quarry, NC (15 mi) (US Census Bureau).
- Nearest smaller communities: Cleveland, NC (9 mi); Harmony, NC (16 mi); Faith, NC (16 mi), each a US Census place.
What a personal loan costs in Cooleemee
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
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.
North Carolina lending rules that apply in Cooleemee
The North Carolina rate caps and licensing rules that reach Cooleemee are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | For loans of $25,000 or less: greater of the 6-month U.S. Treasury bill rate + 6% or 16% (G.S. 24-1.1(c)); any agreed rate above $25,000 Source says: "plus six percent (6%), rounded upward or downward ... or sixteen percent (16%), whichever is greater" | North Carolina General Assembly as of 2026-09-16 |
| Payday lending status | Payday lenders shut down in North Carolina; online payday lending remains an enforcement target Source says: "Payday Lenders: Shut Down In NC, But Still Victimizing Borrowers Online" | North Carolina Department of Justice (Office of the Attorney General) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Finance Act license from the Commissioner of Banks required for loans of $25,000 or less charging more than Chapter 24 rates Source says: "Direct lenders seeking to charge rates higher than allowed under Chapter 24 on consumer term loans of twenty-five thousand dollars ($25,000) or less" | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
| State lending regulator | North Carolina Office of the Commissioner of Banks (NCCOB) Source says: "Lenders operating under the CFA must be licensed by and are subject to regulation by the NCCOB." | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
| Consumer Finance Act installment loan rates (G.S. 53-176) | 33% per annum on unpaid balance up to $4,000; 24% on $4,000-$8,000; 18% on the remainder (loans up to $12,000); 18% for loans above $12,000 Source says: "thirty-three percent (33%) per annum on that part of the unpaid principal balance not exceeding four thousand dollars ($4,000)" | North Carolina General Assembly as of 2026-09-16 |
How to compare offers in Cooleemee
A few practical steps will make the process in Cooleemee less costly:
- 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 North Carolina using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.