Loraine at a glance
- Population: roughly 508 people; 976th of 1,224 places in Texas (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 506 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up roughly 0.4% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Texas places: the 976th-largest of 1,224 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 20% of places in Texas rank below it by population (US Census Bureau).
- Coordinates: 32.4087, -100.7125 (Census Gazetteer, US Census Bureau).
- Nearest larger cities within 120 miles: Colorado City, TX (9 mi); Roscoe, TX (11 mi); Sweetwater, TX (18 mi); Snyder, TX (24 mi); Roby, TX (30 mi) (US Census Bureau).
- Nearest smaller communities: Westbrook, TX (18 mi); Blackwell, TX (32 mi); Trent, TX (35 mi) (Census populations).
What a personal loan costs in Loraine
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.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Texas lending rules that apply in Loraine
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Loraine
Here is a short checklist for comparing personal loans in Loraine:
- 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.