Fayetteville at a glance
- Population: roughly 7,047 people; 79th of 344 places in Tennessee (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 7,075 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population fell about 0.4% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Tennessee places: 79th in population of 344 places (US Census Bureau).
- Size percentile: larger than about 77% of the Census places in Tennessee (US Census Bureau).
- Coordinates: latitude 35.1502, longitude -86.5623 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Lewisburg, TN (24 mi); Tullahoma, TN (25 mi); Shelbyville, TN (25 mi); Winchester, TN (26 mi); Pulaski, TN (27 mi) (US Census Bureau).
- Nearest smaller places: Petersburg, TN (12 mi); Lynchburg, Moore County, TN (15 mi); Huntland, TN (18 mi) (US Census Bureau estimates).
What a personal loan costs in Fayetteville
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.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
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-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Tennessee lending rules that apply in Fayetteville
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 |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Fayetteville
Before you share your details with a lender in Fayetteville:
- 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.