Wellman at a glance
- Population: about 226 residents, ranking 1,144th of 1,224 Census places in Texas (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 229 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a decline of roughly 1.3% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Texas places: 1,144th-largest of 1,224 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 7% of places in Texas rank below it by population (US Census Bureau).
- Coordinates: latitude 33.0470, longitude -102.4274 (US Census Bureau Gazetteer).
- Nearest larger cities: Seagraves, TX (11 mi); Brownfield, TX (13 mi); Meadow, TX (24 mi); Denver City, TX (24 mi); Plains, TX (25 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Los Ybanez, TX (37 mi); Causey, NM (69 mi); Dora, NM (80 mi) (US Census Bureau).
What a personal loan costs in Wellman
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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.
Texas lending rules that apply in Wellman
The table carries the Texas rate and licensing rules that apply to consumer loans made in Wellman.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | License required for non-depository lenders charging more than 10% interest; Chapter 342 governs consumer loans (Tex. Fin. Code § 342.051) Source says: Non-depository lenders who engage in making, transacting, or collecting loans with a rate of interest greater than 10% must be licensed by the OCCC. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| State lending regulator | Texas Office of Consumer Credit Commissioner (OCCC) Source says: The OCCC licenses and regulates non-depository lenders in the state of Texas. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per year maximum; a greater rate is usurious unless otherwise provided by law (Tex. Fin. Code § 302.001) Source says: The maximum rate or amount of interest is 10 percent a year except as otherwise provided by law. | Texas Legislature (Texas Constitution and Statutes) as of 2026-09-16 |
| Payday lending status | Legal via licensed credit access businesses (payday/title-loan brokers); the third-party lender itself is not licensed (Tex. Fin. Code ch. 393) Source says: the credit access business that serves as the broker is the licensee in this regulated industry | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
How to compare offers in Wellman
These steps are the ones that most affect the offer you receive in Wellman:
- 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 Texas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.