Lake Waccamaw at a glance
- Population: roughly 1,255 people; 311th of 549 places in North Carolina (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 1,296 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a loss of about 3.2% since the 2020 count (US Census Bureau).
- Rank among North Carolina places: 311th by size among 549 communities (US Census Bureau).
- Size percentile: about 43% of North Carolina's Census places are smaller (US Census Bureau).
- Coordinates: it sits at 34.3182, -78.5112 in the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Whiteville, NC (11 mi); Chadbourn, NC (18 mi); Elizabethtown, NC (22 mi); Bladenboro, NC (22 mi); Tabor City, NC (24 mi) (US Census Bureau).
- Nearest smaller towns: Bolton, NC (6 mi); East Arcadia, NC (12 mi); Brunswick, NC (12 mi) (US Census Bureau).
What a personal loan costs in Lake Waccamaw
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
North Carolina lending rules that apply in Lake Waccamaw
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 |
|---|---|---|
| Consumer Finance Act installment loan rates (G.S. 53-176) | 33% per annum on unpaid balance up to $4,000; 24% on $4,000-$8,000; 18% on the remainder (loans up to $12,000); 18% for loans above $12,000 Source says: "thirty-three percent (33%) per annum on that part of the unpaid principal balance not exceeding four thousand dollars ($4,000)" | North Carolina General Assembly as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | For loans of $25,000 or less: greater of the 6-month U.S. Treasury bill rate + 6% or 16% (G.S. 24-1.1(c)); any agreed rate above $25,000 Source says: "plus six percent (6%), rounded upward or downward ... or sixteen percent (16%), whichever is greater" | North Carolina General Assembly as of 2026-09-16 |
| Payday lending status | Payday lenders shut down in North Carolina; online payday lending remains an enforcement target Source says: "Payday Lenders: Shut Down In NC, But Still Victimizing Borrowers Online" | North Carolina Department of Justice (Office of the Attorney General) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Finance Act license from the Commissioner of Banks required for loans of $25,000 or less charging more than Chapter 24 rates Source says: "Direct lenders seeking to charge rates higher than allowed under Chapter 24 on consumer term loans of twenty-five thousand dollars ($25,000) or less" | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
| State lending regulator | North Carolina Office of the Commissioner of Banks (NCCOB) Source says: "Lenders operating under the CFA must be licensed by and are subject to regulation by the NCCOB." | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
How to compare offers in Lake Waccamaw
These steps are the ones that most affect the offer you receive in Lake Waccamaw:
- 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 North Carolina using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.