Palmer at a glance
- Population: 570 residents, the 274th-largest of 344 places in Tennessee (US Census Bureau, Vintage 2023).
- 2020 Census base: 550 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population rose about 3.6% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Tennessee places: 274th in population of 344 places (US Census Bureau).
- Size percentile: about 20% of places in Tennessee are smaller (US Census Bureau).
- Coordinates: 35.3576 latitude, -85.5656 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Gruetli-Laager, TN (4 mi); Coalmont, TN (8 mi); Dunlap, TN (10 mi); Altamont, TN (11 mi); Whitwell, TN (12 mi) (US Census Bureau populations).
- Smaller towns nearby: Beersheba Springs, TN (9 mi); Viola, TN (21 mi); Orme, TN (27 mi) (US Census Bureau).
What a personal loan costs in Palmer
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Tennessee lending rules that apply in Palmer
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Palmer
These steps are the ones that most affect the offer you receive in Palmer:
- 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.