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Personal loans in Follett, TX

For residents of Follett, a personal loan is a lump sum with a fixed repayment schedule, and its cost reflects your credit, income and debt-to-income picture. Follett's Census population of roughly 359 makes it the 1,055th-largest of 1,224 places in Texas. Texas law sets the rate ceilings and the licensing a lender must hold, and the table below lists each sourced figure.

By the Personalloaned Editorial Team · Last updated 2026-09-16

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Follett at a glance

  • Population: 359 — 1,055th in Texas, which has 1,224 Census places (US Census Bureau, Vintage 2023).
  • 2020 Census base: 381 residents (US Census Bureau, 2020 Census).
  • 2020 to 2023 change: a loss of about 5.8% since the 2020 count (US Census Bureau).
  • Rank among Texas places: 1,055th of 1,224 by population (US Census Bureau, Vintage 2023).
  • Size percentile: roughly 14% of Texas's places have fewer residents (US Census Bureau).
  • Coordinates: 36.4340 latitude, -100.1408 longitude (US Census Bureau Gazetteer).
  • Nearest larger cities: Shattuck, OK (19 mi); Booker, TX (22 mi); Gage, OK (23 mi); Laverne, OK (23 mi); Arnett, OK (29 mi), each a US Census place with its estimated population.
  • Nearest smaller towns: Darrouzett, TX (10 mi); Higgins, TX (23 mi); May, OK (25 mi) (US Census Bureau).

What a personal loan costs in Follett

A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.

The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.

A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.

Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.

Texas lending rules that apply in Follett

Read the table as the compliance picture for a lender serving Follett: label, sourced figure, publisher and date.

RuleDetailSource
Small-loan / installment lender licensingLicense 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 regulatorTexas 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 statusLegal 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 Follett

The order below is a sensible way to approach a loan in Follett:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Texas using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Follett?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Follett are the same as elsewhere in Texas.
How much can I borrow with a personal loan in Follett?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Follett require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Follett hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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