South Carrollton at a glance
- Population: the Census estimates 139 residents, ranking 396th of 416 places in Kentucky (Vintage 2023).
- 2020 Census base: 140 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: down roughly 0.7% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Kentucky places: 396th-largest of 416 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 5% of places in Kentucky are smaller (US Census Bureau).
- Coordinates: latitude 37.3353, longitude -87.1402 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Central City, KY (3 mi); Bremen, KY (5 mi); Powderly, KY (7 mi); Island, KY (7 mi); Rockport, KY (8 mi) (US Census Bureau).
- Smaller places nearby: Rochester, KY (16 mi); Woodbury, KY (30 mi); Wheatcroft, KY (41 mi), per US Census Bureau estimates.
What a personal loan costs in South Carrollton
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Kentucky lending rules that apply in South Carrollton
The table lists the Kentucky rules that apply to a loan made in South Carrollton, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in South Carrollton
Run through this list before signing anything in South Carrollton:
- 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.