Ray City at a glance
- Population: 1,020 (US Census Bureau, Vintage 2023 subcounty estimate), the 297th-largest of 536 places in Georgia.
- 2020 Census base: 953 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: an increase of about 7.0% since the 2020 count (US Census Bureau).
- Rank among Georgia places: 297th of 536 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 45% of the places in Georgia (US Census Bureau).
- Coordinates: latitude 31.0728, longitude -83.1901 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Lakeland, GA (7 mi); Nashville, GA (10 mi); Hahira, GA (12 mi); Adel, GA (14 mi); Valdosta, GA (16 mi) (US Census Bureau populations).
- Nearest smaller communities: Cecil, GA (12 mi); Du Pont, GA (20 mi); Morven, GA (20 mi) (Census populations).
What a personal loan costs in Ray City
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Georgia lending rules that apply in Ray City
The Georgia rate caps and licensing rules that reach Ray City are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Installment Loan Act rate cap | 10% per annum of the face amount of the contract (licensed installment loans) Source says: "may charge interest at a rate not to exceed 10 percent per annum of the face amount of the contract". | Georgia Department of Banking and Finance as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: Georgia's rate ceilings are set by O.C.G.A. Title 7, Chapter 4 (O.C.G.A. §§ 7-4-1 to 7-4-21); the Department of Banking and Finance does not publish the figure and the official code host could not be fetched, so no figure is asserted. | Georgia Department of Banking and Finance as of 2026-09-16 |
| Payday lending status | Prohibited (payday lending illegal in Georgia) Source says: "Payday lending is illegal in Georgia." | Georgia Department of Banking and Finance as of 2026-09-16 |
| Small-loan / installment lender licensing | Installment lender license required for loans of $3,000 or less Source says: "any entity making loans of $3,000.00 or less to individuals must be licensed with the Department as an installment lender". | Georgia Department of Banking and Finance as of 2026-09-16 |
| State lending regulator | Georgia Department of Banking and Finance (DBF) Source says: "The Non-depository division supervises mortgage lenders, mortgage brokers, and mortgage loan originators, as well as installment lenders, check cashers, and money transmitters". | Georgia Department of Banking and Finance as of 2026-09-16 |
How to compare offers in Ray City
These steps are the ones that most affect the offer you receive in Ray City:
- 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 Georgia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.