Walnut Cove at a glance
- Population: 1,598 (US Census Bureau, Vintage 2023 subcounty estimate), the 283rd-largest of 549 places in North Carolina.
- 2020 Census base: the 2020 Census recorded 1,589 residents here (US Census Bureau).
- 2020 to 2023 change: roughly 0.6% higher than at the 2020 Census (US Census Bureau).
- Rank among North Carolina places: 283rd of 549 by population (US Census Bureau, Vintage 2023).
- Size percentile: larger than about 48% of the Census places in North Carolina (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 36.2935, -80.1409.
- Nearest larger cities: Rural Hall, NC (10 mi); Walkertown, NC (10 mi); Stokesdale, NC (10 mi); Madison, NC (12 mi); Oak Ridge, NC (12 mi); US Census Bureau population estimates.
- Smaller places nearby: Danbury, NC (9 mi); Bethania, NC (13 mi); Stoneville, NC (18 mi), per US Census Bureau estimates.
What a personal loan costs in Walnut Cove
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
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.
North Carolina lending rules that apply in Walnut Cove
The table carries the North Carolina rate and licensing rules that apply to consumer loans made in Walnut Cove.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Walnut Cove
The steps below are worth completing first when you borrow in Walnut Cove:
- 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.