Selma at a glance
- Population: the Census estimates 11,748 residents, ranking 219th of 1,224 places in Texas (Vintage 2023).
- 2020 Census base: 10,957 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 7.2% growth over the 2020 Census base (US Census Bureau).
- Rank among Texas places: 219th of the state's 1,224 Census places (US Census Bureau).
- Size percentile: about 82% of Texas's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 29.5865, -98.3153 by the US Census Bureau Gazetteer.
- Nearest larger cities: Universal City, TX (2 mi); Live Oak, TX (3 mi); Schertz, TX (4 mi); Converse, TX (5 mi); Cibolo, TX (6 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Garden Ridge, TX (4 mi); Windcrest, TX (6 mi); Santa Clara, TX (9 mi) (US Census Bureau).
What a personal loan costs in Selma
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
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.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Texas lending rules that apply in Selma
The table carries the Texas rate and licensing rules that apply to consumer loans made in Selma.
| 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 Selma
These steps are the ones that most affect the offer you receive in Selma:
- 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.