Prestonsburg at a glance
- Population: about 3,721 residents, ranking 95th of 416 Census places in Kentucky (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 3,921 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 5.1% lower than the 2020 Census base (US Census Bureau).
- Rank among Kentucky places: 95th of 416 by population (US Census Bureau, Vintage 2023).
- Size percentile: ahead of around 77% of Kentucky places in population terms (US Census Bureau).
- Coordinates: 37.6816, -82.7659 (US Census Bureau Gazetteer).
- Nearest larger cities: Paintsville, KY (10 mi); Pikeville, KY (19 mi); Hazard, KY (38 mi); Grayson, KY (46 mi); Morehead, KY (51 mi), each a US Census place with its estimated population.
- Nearest smaller places: Allen, KY (5 mi); Martin, KY (8 mi); Coal Run Village, KY (15 mi) (US Census Bureau estimates).
What a personal loan costs in Prestonsburg
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Kentucky lending rules that apply in Prestonsburg
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| 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 Prestonsburg
Run through this list before signing anything in Prestonsburg:
- 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.