Russell Springs at a glance
- Population: a Census-estimated 2,794, placing it 116th among Kentucky's 416 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 2,723 residents here (US Census Bureau).
- 2020 to 2023 change: population rose about 2.6% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Kentucky places: 116th in population of 416 places (US Census Bureau).
- Size percentile: it exceeds roughly 72% of Kentucky's Census places by population (US Census Bureau).
- Coordinates: 37.0507 / -85.0805, per the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Columbia, KY (13 mi); Monticello, KY (19 mi); Campbellsville, KY (25 mi); Somerset, KY (26 mi); Lebanon, KY (37 mi) (US Census Bureau).
- Nearest smaller towns: Jamestown, KY (4 mi); Liberty, KY (20 mi); Burkesville, KY (24 mi) (US Census Bureau).
What a personal loan costs in Russell Springs
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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 Russell Springs
The Kentucky rate caps and licensing rules that reach Russell Springs are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Russell Springs
Before you share your details with a lender in Russell Springs:
- 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.