Penelope at a glance
- Population: 187 — 1,163rd in Texas, which has 1,224 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 180 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population rose about 3.9% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Texas places: the 1,163rd-largest of 1,224 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 5% of Texas places in population terms (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 31.8545, -96.9282.
- Nearest larger cities within 120 miles: Malone, TX (5 mi); Mount Calm, TX (7 mi); Hubbard, TX (8 mi); Abbott, TX (9 mi); Leroy, TX (10 mi) (US Census Bureau).
- Nearest smaller towns: Bynum, TX (9 mi); Mertens, TX (14 mi); Aquilla, TX (17 mi) — US Census Bureau populations.
What a personal loan costs in Penelope
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Texas lending rules that apply in Penelope
The table carries the Texas rate and licensing rules that apply to consumer loans made in Penelope.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Penelope
Here is a short checklist for comparing personal loans in Penelope:
- 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.