Collierville at a glance
- Population: about 51,317, 14th by size in Tennessee of 344 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 51,326 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: roughly unchanged from the 2020 Census base (US Census Bureau).
- Rank among Tennessee places: the 14th-largest of 344 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 96% of the places in Tennessee (US Census Bureau).
- Coordinates: 35.0489, -89.6971 (US Census Bureau Gazetteer).
- Nearest larger cities: Bartlett, TN (15 mi); Memphis, TN (16 mi); Southaven, MS (17 mi); Jackson, TN (64 mi); Jonesboro, AR (77 mi); US Census Bureau population estimates.
- Smaller places nearby: Piperton, TN (5 mi); Germantown, TN (5 mi); Rossville, TN (8 mi), per US Census Bureau estimates.
What a personal loan costs in Collierville
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
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.
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.
Tennessee lending rules that apply in Collierville
The sourced rows below are the rules a licensed lender must follow when lending in Tennessee, and therefore in Collierville.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Licensed; deferred presentment services (payday) lenders must obtain a TDFI license, including internet lenders (Tenn. Code Ann. § 45-17-103) Source says: deferred presentment services in this state through the use of the internet, facsimile, telephone, or other means without having first obtained a license | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | TDFI Compliance Division licenses industrial loan & thrift companies, deferred presentment companies, flexible credit companies, and other consumer lenders Source says: The Compliance Division is responsible for the licensing and regulatory supervision of the following types of financial institutions operating in Tennessee | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| State lending regulator | Tennessee Department of Financial Institutions (TDFI) Source says: The Department regulates banks, credit unions, trust companies, business and industrial development corporations, industrial loan and thrift companies | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10.75% per annum (maximum effective formula rate for written contracts, announced September 15, 2026) Source says: the maximum effective formula rate of interest in Tennessee is 10.75 percent per annum | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
How to compare offers in Collierville
Before you share your details with a lender in Collierville:
- 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 Tennessee using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.