Thomaston at a glance
- Population: 318, the 371st-largest community in Alabama out of 462 (US Census Bureau, Vintage 2023).
- 2020 Census base: 326 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 2.5% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Alabama places: 371st-largest of 462 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 20% of Alabama's places have fewer residents (US Census Bureau).
- Coordinates: mapped at 32.2683, -87.6237 by the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Linden, AL (10 mi); Uniontown, AL (15 mi); Pine Hill, AL (20 mi); Demopolis, AL (20 mi); Pennington, AL (25 mi) (US Census Bureau populations).
- Nearest smaller communities: Dayton, AL (6 mi); Providence, AL (10 mi); Faunsdale, AL (13 mi), each a US Census place.
What a personal loan costs in Thomaston
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Alabama lending rules that apply in Thomaston
Read the table as the compliance picture for a lender serving Thomaston: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Alabama Small Loan Act license required from the supervisor for loans under $1,500; interest capped at 3% per month on the first $200 and 2% per month on $200–$1,500 Source says: "No person shall engage in the business of lending in amounts of less than one thousand five hundred dollars ($1,500)"; "without first having obtained a license from the supervisor"; "not exceeding three percent a month on that part of the unpaid principal balance not in excess of two hundred dollars". | Alabama State Banking Department — Alabama Small Loan Act (Code of Alabama §§ 5-18-1 et seq.) as of 2026-09-16 |
| State lending regulator | Alabama State Banking Department — Bureau of Loans (BOL) Source says: "The Bureau of Loans (hereinafter “the BOL”) was established in 1945". The BOL administers the Small Loan Act, Consumer Credit Act, Pawn Shop Act, Mortgage Brokers Licensing Act, Deferred Presentment Services Act and SAFE Act. | Alabama State Banking Department as of 2026-09-16 |
| Parity lending rate provision (§ 8-8-1.1) | Any lender may charge the same rates as any federally or state-chartered or licensed lending institution in Alabama Source says: "may, on any loans or extensions of credit made by them, charge or impose the same rate of interest or finance charge". | Alabama Legislature — Code of Alabama 1975, § 8-8-1.1 as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 6% per annum without a written contract; 8% per annum by written contract Source says: "except by written contract is $6 upon $100 for one year"; "the rate of interest by written contract is not to exceed $8 upon $100 for one year". (Code text retrieved from the Alabama Legislature's official Code of Alabama service.) | Alabama Legislature — Code of Alabama 1975, § 8-8-1 as of 2026-09-16 |
| Payday lending status | Permitted — deferred presentment services licensed by the supervisor; maximum advance $500; maximum fee 17.5% of amount advanced Source says: "a maximum fee on any deferred presentment transaction not to exceed 17.5 percent of the amount advanced"; "The maximum amount that may be advanced in any deferred presentment transaction is five hundred dollars ($500)". | Alabama State Banking Department — Deferred Presentment Services Act (Code of Alabama §§ 5-18A-1 et seq.) as of 2026-09-16 |
How to compare offers in Thomaston
These steps are the ones that most affect the offer you receive in Thomaston:
- 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 Alabama using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.