Dayton at a glance
- Population: 7,362 — 75th in Tennessee, which has 344 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 7,069 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population rose about 4.1% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Tennessee places: 75th of the state's 344 Census places (US Census Bureau).
- Size percentile: it is larger than about 78% of the places in Tennessee (US Census Bureau).
- Coordinates: 35.4954, -85.0087 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Soddy-Daisy, TN (19 mi); Athens, TN (23 mi); Cleveland, TN (23 mi); Collegedale, TN (31 mi); Signal Mountain, TN (31 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Graysville, TN (5 mi); Decatur, TN (12 mi); Pikeville, TN (13 mi) (US Census Bureau).
What a personal loan costs in Dayton
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the 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.
Tennessee lending rules that apply in Dayton
Read the table as the compliance picture for a lender serving Dayton: label, sourced figure, publisher and date.
| 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 Dayton
The order below is a sensible way to approach a loan in Dayton:
- 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.