Minor Hill at a glance
- Population: 514 (US Census Bureau, Vintage 2023 subcounty estimate), the 286th-largest of 344 places in Tennessee.
- 2020 Census base: the 2020 Census recorded 504 residents here (US Census Bureau).
- 2020 to 2023 change: about 2.0% growth over the 2020 Census base (US Census Bureau).
- Rank among Tennessee places: 286th largest of 344 (US Census Bureau).
- Size percentile: about 17% of places in Tennessee are smaller (US Census Bureau).
- Coordinates: 35.0566, -87.1607 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Pulaski, TN (12 mi); Lexington, AL (14 mi); Elkton, TN (15 mi); Loretto, TN (16 mi); Lawrenceburg, TN (16 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Lester, AL (5 mi); Anderson, AL (12 mi); Elkmont, AL (13 mi) (US Census Bureau).
What a personal loan costs in Minor Hill
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Tennessee lending rules that apply in Minor Hill
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Minor Hill
These steps are the ones that most affect the offer you receive in Minor Hill:
- 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.