Olive Hill at a glance
- Population: 1,546, the 170th-largest community in Kentucky out of 416 (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,582 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 2.3% below the 2020 Census base (US Census Bureau).
- Rank among Kentucky places: 170th largest of 416 (US Census Bureau).
- Size percentile: about 59% of places in Kentucky are smaller (US Census Bureau).
- Coordinates: 38.3058, -83.1682 (US Census Bureau Gazetteer).
- Nearest larger cities: Grayson, KY (13 mi); Morehead, KY (17 mi); West Liberty, KY (27 mi); Raceland, KY (28 mi); Flatwoods, KY (29 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Sandy Hook, KY (15 mi); Lakeview Heights, KY (21 mi); Vanceburg, KY (22 mi), each a US Census place.
What a personal loan costs in Olive Hill
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Kentucky lending rules that apply in Olive Hill
Each row below is a Kentucky rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer Loan Company license required (KRS Chapter 286.4) Source says: "How to License a Consumer Loan Company: 1. Read KRS 286.4 and the applicable administrative regulations under KAR 808, Chapter 6". | Kentucky Department of Financial Institutions as of 2026-09-16 |
| State lending regulator | Kentucky Department of Financial Institutions (DFI) Source says: "The Department of Financial Institutions' mission is to serve Kentucky residents by promoting access to a stable financial industry, implementing effective and efficient regulatory oversight". | Kentucky Department of Financial Institutions as of 2026-09-16 |
| Consumer Loan Company license — statutory basis | License required from the commissioner to make loans at a greater rate of interest than otherwise permitted by law Source says: "No person shall, without first obtaining a license from the commissioner, engage in the business of making loans ... at a greater rate of interest". | Kentucky Legislative Research Commission (Kentucky Revised Statutes) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Up to 19% per annum, or 4% over the 90-day commercial-paper discount rate, whichever is less (by written agreement) Source says: "At a per annum rate not to exceed four percent (4%) in excess of the discount rate on ninety (90) day commercial paper ... or nineteen percent (19%), whichever is less". | Kentucky Legislative Research Commission (Kentucky Revised Statutes) as of 2026-09-16 |
| Payday lending status | Permitted under license (deferred deposit service business; payday loans) Source says: "The Kentucky Department of Financial Institutions (DFI) has secured the services of Veritec Solutions, LLC to provide a common database with real-time access for deferred deposit transactions". | Kentucky Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Olive Hill
These steps are the ones that most affect the offer you receive in Olive 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 Kentucky using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.