Town Creek at a glance
- Population: the Census estimates 1,063 residents, ranking 250th of 462 places in Alabama (Vintage 2023).
- 2020 Census base: 1,056 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 0.7% growth over the 2020 Census base (US Census Bureau).
- Rank among Alabama places: 250th in population of 462 places (US Census Bureau).
- Size percentile: it exceeds roughly 46% of Alabama's Census places by population (US Census Bureau).
- Coordinates: 34.6713, -87.4078 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Rogersville, AL (13 mi); Muscle Shoals, AL (14 mi); Moulton, AL (15 mi); Tuscumbia, AL (17 mi); Sheffield, AL (17 mi) (US Census Bureau populations).
- Nearest smaller communities: Courtland, AL (5 mi); North Courtland, AL (6 mi); Leighton, AL (7 mi) (Census populations).
What a personal loan costs in Town Creek
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.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Alabama lending rules that apply in Town Creek
The table carries the Alabama rate and licensing rules that apply to consumer loans made in Town Creek.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Town Creek
Here is a short checklist for comparing personal loans in Town Creek:
- 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.