Sturgis at a glance
- Population: 1,674 residents, the 160th-largest of 416 places in Kentucky (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,739 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: down about 3.7% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Kentucky places: 160th in population of 416 places (US Census Bureau).
- Size percentile: roughly 62% of Kentucky's places have fewer residents (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 37.5462, -87.9874.
- Nearest larger cities: Morganfield, KY (11 mi); Marion, KY (16 mi); Providence, KY (16 mi); Mount Vernon, IN (27 mi); Henderson, KY (30 mi); US Census Bureau population estimates.
- Smaller places nearby: Wheatcroft, KY (8 mi); Clay, KY (10 mi); Cave-In-Rock, IL (11 mi), per US Census Bureau estimates.
What a personal loan costs in Sturgis
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Kentucky lending rules that apply in Sturgis
The table lists the Kentucky rules that apply to a loan made in Sturgis, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Sturgis
Run through this list before signing anything in Sturgis:
- 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.