Summerfield at a glance
- Population: 11,150 people, the 86th-largest place among North Carolina's 549 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 10,952 (US Census Bureau).
- 2020 to 2023 change: about 1.8% growth over the 2020 Census base (US Census Bureau).
- Rank among North Carolina places: 86th out of 549 Census places (US Census Bureau).
- Size percentile: about 84% of North Carolina's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 36.1969, -79.8972.
- Nearest larger cities: Greensboro, NC (8 mi); Kernersville, NC (12 mi); High Point, NC (15 mi); Reidsville, NC (16 mi); Archdale, NC (20 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Stokesdale, NC (5 mi); Oak Ridge, NC (6 mi); Jamestown, NC (14 mi) (US Census Bureau).
What a personal loan costs in Summerfield
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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 repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
North Carolina lending rules that apply in Summerfield
Read the table as the compliance picture for a lender serving Summerfield: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Summerfield
Before you commit to a personal loan in Summerfield, 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 North Carolina using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.