Shafter at a glance
- Population: 21,915 (US Census Bureau, Vintage 2023 subcounty estimate), the 288th-largest of 482 places in California.
- 2020 Census base: 19,958 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a gain of roughly 9.8% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among California places: 288th in population of 482 places (US Census Bureau).
- Size percentile: about 40% of places in California are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 35.4794, -119.2013.
- Nearest larger cities: Wasco, CA (12 mi); Bakersfield, CA (13 mi); Delano, CA (20 mi); Porterville, CA (41 mi); Corcoran, CA (46 mi), each a US Census place with its estimated population.
- Smaller towns nearby: McFarland, CA (13 mi); Taft, CA (27 mi); Arvin, CA (29 mi) (US Census Bureau).
What a personal loan costs in Shafter
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.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
California lending rules that apply in Shafter
The California rate caps and licensing rules that reach Shafter are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 36% rate cap on mid-size consumer loans (AB 539) | Consumer loans of $2,500 to under $10,000: cap of 36% per annum simple interest plus the Federal Funds Rate Source says: "charges at a rate not exceeding an annual simple interest rate of 36 percent per annum plus the Federal Funds Rate". | California Legislature — Financial Code § 22304.5 as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum default; written contracts may set up to 10% per annum for consumer-purpose loans Source says: "shall be 7 percent per annum"; "for use primarily for personal, family, or household purposes, at a rate not exceeding 10 percent per annum". | California Legislature — California Constitution, Article XV, § 1 as of 2026-09-16 |
| Payday lending status | Permitted under the California Deferred Deposit Transaction Law; max $300 face amount; fee ≤15%; term up to 31 days Source says: "The face amount of the check shall not exceed three hundred dollars ($300)"; "A fee for a deferred deposit transaction shall not exceed 15 percent of the face amount of the check" (Financial Code § 23036). | California Legislature — Financial Code § 23035 (and § 23036) as of 2026-09-16 |
| Small-loan / installment lender licensing | Finance lender/broker license required from the Commissioner of Financial Protection and Innovation (California Financing Law) Source says: "No person shall engage in the business of a finance lender or broker without obtaining a license from the commissioner". | California Legislature — Financial Code § 22100 as of 2026-09-16 |
| State lending regulator | California Department of Financial Protection and Innovation (DFPI) Source says: "“Department” means the Department of Financial Protection and Innovation". | California Legislature — Financial Code § 23001 as of 2026-09-16 |
How to compare offers in Shafter
Before you commit to a personal loan in Shafter, work through these steps:
- 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 California using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.