LaFayette at a glance
- Population: a Census-estimated 176, placing it 382nd among Kentucky's 416 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 179 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: roughly 1.7% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Kentucky places: 382nd by size among 416 communities (US Census Bureau).
- Size percentile: roughly 8% of places in Kentucky rank below it by population (US Census Bureau).
- Coordinates: it sits at 36.6602, -87.6581 in the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Oak Grove, KY (13 mi); Hopkinsville, KY (16 mi); Dover, TN (16 mi); Cadiz, KY (16 mi); Pembroke, KY (18 mi) (US Census Bureau).
- Nearest smaller communities: Cottage Grove, TN (50 mi); Bremen, KY (54 mi); South Carrollton, KY (55 mi), each a US Census place.
What a personal loan costs in LaFayette
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Kentucky lending rules that apply in LaFayette
Read the table as the compliance picture for a lender serving LaFayette: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | Up to 19% per annum, or 4% over the 90-day commercial-paper discount rate, whichever is less (by written agreement) Source says: "At a per annum rate not to exceed four percent (4%) in excess of the discount rate on ninety (90) day commercial paper ... or nineteen percent (19%), whichever is less". | Kentucky Legislative Research Commission (Kentucky Revised Statutes) as of 2026-09-16 |
| Payday lending status | Permitted under license (deferred deposit service business; payday loans) Source says: "The Kentucky Department of Financial Institutions (DFI) has secured the services of Veritec Solutions, LLC to provide a common database with real-time access for deferred deposit transactions". | Kentucky Department of Financial Institutions as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Loan Company license required (KRS Chapter 286.4) Source says: "How to License a Consumer Loan Company: 1. Read KRS 286.4 and the applicable administrative regulations under KAR 808, Chapter 6". | Kentucky Department of Financial Institutions as of 2026-09-16 |
| State lending regulator | Kentucky Department of Financial Institutions (DFI) Source says: "The Department of Financial Institutions' mission is to serve Kentucky residents by promoting access to a stable financial industry, implementing effective and efficient regulatory oversight". | Kentucky Department of Financial Institutions as of 2026-09-16 |
| Consumer Loan Company license — statutory basis | License required from the commissioner to make loans at a greater rate of interest than otherwise permitted by law Source says: "No person shall, without first obtaining a license from the commissioner, engage in the business of making loans ... at a greater rate of interest". | Kentucky Legislative Research Commission (Kentucky Revised Statutes) as of 2026-09-16 |
How to compare offers in LaFayette
Here is a short checklist for comparing personal loans in LaFayette:
- 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 Kentucky using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.