Mercedes at a glance
- Population: 16,732, the 175th-largest community in Texas out of 1,224 (US Census Bureau, Vintage 2023).
- 2020 Census base: 16,256 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a gain of roughly 2.9% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Texas places: 175th of the state's 1,224 Census places (US Census Bureau).
- Size percentile: it is larger than about 86% of the places in Texas (US Census Bureau).
- Coordinates: 26.1538, -97.9129 (US Census Bureau Gazetteer).
- Nearest larger cities: Weslaco, TX (5 mi); Donna, TX (8 mi); Alamo, TX (13 mi); Harlingen, TX (14 mi); San Juan, TX (15 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Progreso, TX (5 mi); La Feria, TX (5 mi); Progreso Lakes, TX (7 mi) (US Census Bureau).
What a personal loan costs in Mercedes
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
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 payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Texas lending rules that apply in Mercedes
Read the table as the compliance picture for a lender serving Mercedes: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mercedes
Run through this list before signing anything in Mercedes:
- 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.