Fairmont at a glance
- Population: 2,203, the 250th-largest community in North Carolina out of 549 (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,193 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 0.5% growth over the 2020 Census base (US Census Bureau).
- Rank among North Carolina places: 250th in population of 549 places (US Census Bureau).
- Size percentile: it exceeds roughly 54% of North Carolina's Census places by population (US Census Bureau).
- Coordinates: 34.4948, -79.1132 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Lumberton, NC (11 mi); Pembroke, NC (13 mi); Dillon, SC (15 mi); Mullins, SC (22 mi); Red Springs, NC (22 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Proctorville, NC (5 mi); McDonald, NC (5 mi); Orrum, NC (6 mi), per US Census Bureau estimates.
What a personal loan costs in Fairmont
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
North Carolina lending rules that apply in Fairmont
The table carries the North Carolina rate and licensing rules that apply to consumer loans made in Fairmont.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Fairmont
These steps are the ones that most affect the offer you receive in Fairmont:
- 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.