Franklin at a glance
- Population: about 198 residents, ranking 372nd of 500 Census places in Arkansas (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 190 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: an increase of about 4.2% since the 2020 count (US Census Bureau).
- Rank among Arkansas places: 372nd-largest of 500 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 26% of places in Arkansas are smaller (US Census Bureau).
- Coordinates: mapped at 36.1727, -91.7697 by the US Census Bureau Gazetteer.
- Nearest larger cities: Horseshoe Bend, AR (4 mi); Oxford, AR (9 mi); Melbourne, AR (10 mi); Ash Flat, AR (10 mi); Evening Shade, AR (11 mi) (Census populations, approximate straight-line distance).
- Nearest smaller places: Sidney, AR (13 mi); Pineville, AR (19 mi); Guion, AR (19 mi) (US Census Bureau estimates).
What a personal loan costs in Franklin
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
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.
Arkansas lending rules that apply in Franklin
The Arkansas rate caps and licensing rules that reach Franklin are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | See the latest published figure value_text left null: the State Bank Department does not publish a consumer small-loan license rate schedule that could be verified; storefront payday lending has been eliminated (see Payday lending status). See the linked regulator page for the licensee categories it supervises. | Arkansas State Bank Department as of 2026-09-16 |
| State lending regulator | Arkansas State Bank Department Source says: "The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas". | Arkansas State Bank Department as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 17% per annum for loans not made by or to governmental units or by federally insured depository institutions (Amendment 89, effective January 1, 2011) Source says: "shall not exceed seventeen percent (17%) per annum". | Arkansas Legislature — Arkansas Constitution, Amendment 89, § 3 (proposed by H.J.R. 1004 of 2009) as of 2026-09-16 |
| Payday lending status | Not permitted — all storefront payday lending eliminated; the Attorney General has worked to eliminate all forms of payday lending since 2008 Source says: "the Attorney General's office has worked to eliminate all forms of payday lending in Arkansas"; "all storefront payday loan operations in Arkansas have been shut down". | Arkansas Attorney General — Consumer Protection Division as of 2026-09-16 |
How to compare offers in Franklin
Here is a short checklist for comparing personal loans in Franklin:
- 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 Arkansas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.