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Personal loans in Benton, KY

A personal loan in Benton is a fixed-payment installment loan, and the rate you are offered turns on your credit, your income and your existing debts. With roughly 4,765 people, Benton ranks 81st of 416 Census places in Kentucky. The sourced table below shows the Kentucky rate caps and licensing requirements that reach every loan made here.

By the Personalloaned Editorial Team · Last updated 2026-09-16

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Benton at a glance

  • Population: the Census estimates 4,765 residents, ranking 81st of 416 places in Kentucky (Vintage 2023).
  • 2020 Census base: 4,762 residents in the 2020 Census, per the US Census Bureau.
  • 2020 to 2023 change: about 0.1% more residents than the 2020 Census base (US Census Bureau).
  • Rank among Kentucky places: 81st out of 416 Census places (US Census Bureau).
  • Size percentile: it is larger than about 81% of the places in Kentucky (US Census Bureau).
  • Coordinates: 36.8480, -88.3616 (US Census Bureau Gazetteer).
  • Nearest larger cities within 120 miles: Murray, KY (16 mi); Mayfield, KY (17 mi); Paducah, KY (22 mi); Metropolis, IL (28 mi); Princeton, KY (32 mi) (US Census Bureau).
  • Smaller places close by: Hardin, KY (7 mi); Grand Rivers, KY (13 mi); Calvert City, KY (14 mi) (US Census Bureau).

What a personal loan costs in Benton

Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.

Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.

A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.

Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.

Kentucky lending rules that apply in Benton

The Kentucky rate caps and licensing rules that reach Benton are listed below, each with its source and retrieval date.

RuleDetailSource
Consumer Loan Company license — statutory basisLicense required from the commissioner to make loans at a greater rate of interest than otherwise permitted by law
Source says: "No person shall, without first obtaining a license from the commissioner, engage in the business of making loans ... at a greater rate of interest".		Kentucky Legislative Research Commission (Kentucky Revised Statutes)
as of 2026-09-16
Maximum legal interest rate (usury cap)Up to 19% per annum, or 4% over the 90-day commercial-paper discount rate, whichever is less (by written agreement)
Source says: "At a per annum rate not to exceed four percent (4%) in excess of the discount rate on ninety (90) day commercial paper ... or nineteen percent (19%), whichever is less".		Kentucky Legislative Research Commission (Kentucky Revised Statutes)
as of 2026-09-16
Payday lending statusPermitted under license (deferred deposit service business; payday loans)
Source says: "The Kentucky Department of Financial Institutions (DFI) has secured the services of Veritec Solutions, LLC to provide a common database with real-time access for deferred deposit transactions".		Kentucky Department of Financial Institutions
as of 2026-09-16
Small-loan / installment lender licensingConsumer Loan Company license required (KRS Chapter 286.4)
Source says: "How to License a Consumer Loan Company: 1. Read KRS 286.4 and the applicable administrative regulations under KAR 808, Chapter 6".		Kentucky Department of Financial Institutions
as of 2026-09-16
State lending regulatorKentucky Department of Financial Institutions (DFI)
Source says: "The Department of Financial Institutions' mission is to serve Kentucky residents by promoting access to a stable financial industry, implementing effective and efficient regulatory oversight".		Kentucky Department of Financial Institutions
as of 2026-09-16

How to compare offers in Benton

A few practical steps will make the process in Benton less costly:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Kentucky using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Benton?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Benton are the same as elsewhere in Kentucky.
How much can I borrow with a personal loan in Benton?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Benton require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Benton hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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