Grays Prairie at a glance
- Population: roughly 392 people; 1,038th of 1,224 places in Texas (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 324 residents here (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 21.0% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Texas places: 1,038th of the state's 1,224 Census places (US Census Bureau).
- Size percentile: about 15% of places in Texas are smaller (US Census Bureau).
- Coordinates: 32.4734, -96.3502 (US Census Bureau Gazetteer).
- Nearest larger cities: Scurry, TX (3 mi); Oak Grove, TX (5 mi); Kaufman, TX (7 mi); Kemp, TX (8 mi); Post Oak Bend, TX (11 mi); US Census Bureau population estimates.
- Smaller places nearby: Cottonwood, TX (3 mi); Rosser, TX (6 mi); Enchanted Oaks, TX (20 mi), per US Census Bureau estimates.
What a personal loan costs in Grays Prairie
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.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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 Grays Prairie
The sourced rows below are the rules a licensed lender must follow when lending in Texas, and therefore in Grays Prairie.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Texas 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 status | Legal 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 |
| Small-loan / installment lender licensing | License 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 |
How to compare offers in Grays Prairie
Before you share your details with a lender in Grays Prairie:
- 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 Texas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.