Speed at a glance
- Population: roughly 65 people; 539th of 549 places in North Carolina (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 64 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: an increase of about 1.6% since the 2020 count (US Census Bureau).
- Rank among North Carolina places: 539th of the state's 549 Census places (US Census Bureau).
- Size percentile: about 2% of places in North Carolina are smaller (US Census Bureau).
- Coordinates: 35.9685 / -77.4445, per the US Census Bureau Gazetteer.
- Nearest larger cities: Hobgood, NC (5 mi); Princeville, NC (7 mi); Tarboro, NC (8 mi); Oak City, NC (8 mi); Conetoe, NC (10 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Leggett, NC (8 mi); Hassell, NC (10 mi); Falkland, NC (19 mi) (US Census Bureau).
What a personal loan costs in Speed
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
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.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
North Carolina lending rules that apply in Speed
The North Carolina rate caps and licensing rules that reach Speed are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Payday lenders shut down in North Carolina; online payday lending remains an enforcement target Source says: "Payday Lenders: Shut Down In NC, But Still Victimizing Borrowers Online" | North Carolina Department of Justice (Office of the Attorney General) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Finance Act license from the Commissioner of Banks required for loans of $25,000 or less charging more than Chapter 24 rates Source says: "Direct lenders seeking to charge rates higher than allowed under Chapter 24 on consumer term loans of twenty-five thousand dollars ($25,000) or less" | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
| State lending regulator | North Carolina Office of the Commissioner of Banks (NCCOB) Source says: "Lenders operating under the CFA must be licensed by and are subject to regulation by the NCCOB." | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
| Consumer Finance Act installment loan rates (G.S. 53-176) | 33% per annum on unpaid balance up to $4,000; 24% on $4,000-$8,000; 18% on the remainder (loans up to $12,000); 18% for loans above $12,000 Source says: "thirty-three percent (33%) per annum on that part of the unpaid principal balance not exceeding four thousand dollars ($4,000)" | North Carolina General Assembly as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | For loans of $25,000 or less: greater of the 6-month U.S. Treasury bill rate + 6% or 16% (G.S. 24-1.1(c)); any agreed rate above $25,000 Source says: "plus six percent (6%), rounded upward or downward ... or sixteen percent (16%), whichever is greater" | North Carolina General Assembly as of 2026-09-16 |
How to compare offers in Speed
The order below is a sensible way to approach a loan in Speed:
- 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 North Carolina using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.