Torrance at a glance
- Population: 139,224, the 42nd-largest community in California out of 482 (US Census Bureau, Vintage 2023).
- 2020 Census base: 146,955 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 5.3% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among California places: 42nd by size among 482 communities (US Census Bureau).
- Size percentile: about 91% of California's Census places are smaller (US Census Bureau).
- Coordinates: latitude 33.8305, longitude -118.3566 (US Census Bureau Gazetteer).
- Nearest larger cities: Long Beach, CA (11 mi); Los Angeles, CA (13 mi); Huntington Beach, CA (22 mi); Garden Grove, CA (23 mi); Fullerton, CA (25 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Redondo Beach, CA (3 mi); Lomita, CA (3 mi); Hermosa Beach, CA (4 mi) (US Census Bureau estimates).
What a personal loan costs in Torrance
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
California lending rules that apply in Torrance
Read the table as the compliance picture for a lender serving Torrance: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 7% per annum default; written contracts may set up to 10% per annum for consumer-purpose loans Source says: "shall be 7 percent per annum"; "for use primarily for personal, family, or household purposes, at a rate not exceeding 10 percent per annum". | California Legislature — California Constitution, Article XV, § 1 as of 2026-09-16 |
| Payday lending status | Permitted under the California Deferred Deposit Transaction Law; max $300 face amount; fee ≤15%; term up to 31 days Source says: "The face amount of the check shall not exceed three hundred dollars ($300)"; "A fee for a deferred deposit transaction shall not exceed 15 percent of the face amount of the check" (Financial Code § 23036). | California Legislature — Financial Code § 23035 (and § 23036) as of 2026-09-16 |
| Small-loan / installment lender licensing | Finance lender/broker license required from the Commissioner of Financial Protection and Innovation (California Financing Law) Source says: "No person shall engage in the business of a finance lender or broker without obtaining a license from the commissioner". | California Legislature — Financial Code § 22100 as of 2026-09-16 |
| State lending regulator | California Department of Financial Protection and Innovation (DFPI) Source says: "“Department” means the Department of Financial Protection and Innovation". | California Legislature — Financial Code § 23001 as of 2026-09-16 |
| 36% rate cap on mid-size consumer loans (AB 539) | Consumer loans of $2,500 to under $10,000: cap of 36% per annum simple interest plus the Federal Funds Rate Source says: "charges at a rate not exceeding an annual simple interest rate of 36 percent per annum plus the Federal Funds Rate". | California Legislature — Financial Code § 22304.5 as of 2026-09-16 |
How to compare offers in Torrance
These steps are the ones that most affect the offer you receive in Torrance:
- 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 California using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.