Chattanooga at a glance
- Population: the Census estimates 407 residents, ranking 334th of 590 places in Oklahoma (Vintage 2023).
- 2020 Census base: 402 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up about 1.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Oklahoma places: 334th of 590 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 43% of Oklahoma's places have fewer residents (US Census Bureau).
- Coordinates: it sits at 34.4239, -98.6540 in the US Census Bureau Gazetteer.
- Nearest larger cities: Grandfield, OK (13 mi); Cache, OK (14 mi); Geronimo, OK (16 mi); Walters, OK (18 mi); Lawton, OK (19 mi), each a US Census place with its estimated population.
- Nearest smaller places: Faxon, OK (5 mi); Loveland, OK (11 mi); Hollister, OK (14 mi) (US Census Bureau estimates).
What a personal loan costs in Chattanooga
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Oklahoma lending rules that apply in Chattanooga
The table lists the Oklahoma rules that apply to a loan made in Chattanooga, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 6% per annum legal rate in the absence of a contract; parties may agree to any rate authorized by law. Source says: "The legal rate of interest shall be six percent (6%) in the absence of any contract as to the rate of interest" (15 O.S. 266). | Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| Payday lending status | Prohibited since August 1, 2020: no new deferred deposit (payday) loans may be made; all Deferred Deposit Lending Act licenses terminated. Source says: "Beginning on and after August 1, 2020, no new deferred deposit loan may be entered into or transacted by a licensee or other person" and "All Deferred Deposit Lending Act licenses shall be terminated and be deemed to have expired on August 1, 2020" (59 O.S. 3101.1). | Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| Small-loan / installment lender licensing | Oklahoma Small Lender license required (Oklahoma Department of Consumer Credit); separate license per location; 59 O.S. 3150-3150.27. Source says: "no person shall engage in the business of making small loans... unless the person is licensed by the Department of Consumer Credit" (59 O.S. 3150.2). | Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| State lending regulator | Oklahoma Department of Consumer Credit (OKDOCC) Source says: "The Department is responsible for the regulation of consumer credit sales and consumer loans in the State of Oklahoma." | Oklahoma Department of Consumer Credit as of 2026-09-16 |
| Small loan rate and principal caps (state-specific rule) | Small loans: interest capped at 17% per month; maximum aggregated principal of $1,500 per customer across all licensees (CPI-adjusted). Source says: "A licensee may only charge and collect a periodic interest rate not to exceed seventeen percent (17%) per month" (59 O.S. 3150.10(B)); max aggregated principal is $1,500 (3150.10(C)). | Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
How to compare offers in Chattanooga
Before you share your details with a lender in Chattanooga:
- 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 Oklahoma using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.