McMinnville at a glance
- Population: 13,790, the 44th-largest community in Tennessee out of 344 (US Census Bureau, Vintage 2023).
- 2020 Census base: 13,780 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a gain of roughly 0.1% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Tennessee places: 44th in population of 344 places (US Census Bureau).
- Size percentile: roughly 87% of places in Tennessee rank below it by population (US Census Bureau).
- Coordinates: 35.6863 latitude, -85.7812 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Tullahoma, TN (33 mi); Cookeville, TN (35 mi); Murfreesboro, TN (38 mi); Shelbyville, TN (40 mi); Smyrna, TN (46 mi) (US Census Bureau populations).
- Nearest smaller communities: Centertown, TN (8 mi); Morrison, TN (9 mi); Viola, TN (11 mi), each a US Census place.
What a personal loan costs in McMinnville
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Tennessee lending rules that apply in McMinnville
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 10.75% per annum (maximum effective formula rate for written contracts, announced September 15, 2026) Source says: the maximum effective formula rate of interest in Tennessee is 10.75 percent per annum | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Payday lending status | Licensed; deferred presentment services (payday) lenders must obtain a TDFI license, including internet lenders (Tenn. Code Ann. § 45-17-103) Source says: deferred presentment services in this state through the use of the internet, facsimile, telephone, or other means without having first obtained a license | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | TDFI Compliance Division licenses industrial loan & thrift companies, deferred presentment companies, flexible credit companies, and other consumer lenders Source says: The Compliance Division is responsible for the licensing and regulatory supervision of the following types of financial institutions operating in Tennessee | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| State lending regulator | Tennessee Department of Financial Institutions (TDFI) Source says: The Department regulates banks, credit unions, trust companies, business and industrial development corporations, industrial loan and thrift companies | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
How to compare offers in McMinnville
Run through this list before signing anything in McMinnville:
- 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 Tennessee using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.