Smithfield at a glance
- Population: the Census estimates 126 residents, ranking 399th of 416 places in Kentucky (Vintage 2023).
- 2020 Census base: 120 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 5.0% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Kentucky places: 399th of 416 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 4% of the places in Kentucky (US Census Bureau).
- Coordinates: 38.3866 latitude, -85.2548 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Eminence, KY (5 mi); New Castle, KY (6 mi); La Grange, KY (7 mi); Pleasureville, KY (8 mi); Campbellsburg, KY (9 mi) (US Census Bureau populations).
- Smaller places close by: Gratz, KY (18 mi); Hickory Hill, KY (18 mi); Ten Broeck, KY (19 mi) (US Census Bureau).
What a personal loan costs in Smithfield
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
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.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Kentucky lending rules that apply in Smithfield
The sourced rows below are the rules a licensed lender must follow when lending in Kentucky, and therefore in Smithfield.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Smithfield
Here is a short checklist for comparing personal loans in Smithfield:
- 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.