Cottonwood at a glance
- Population: 236 people, the 1,133rd-largest place among Texas's 1,224 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 190 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: population rose about 24.2% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Texas places: 1,133rd in population of 1,224 places (US Census Bureau).
- Size percentile: about 7% of Texas's Census places are smaller (US Census Bureau).
- Coordinates: it sits at 32.4514, -96.4004 in the US Census Bureau Gazetteer.
- Nearest larger cities: Rosser, TX (3 mi); Grays Prairie, TX (3 mi); Scurry, TX (4 mi); Oak Grove, TX (7 mi); Kaufman, TX (10 mi); each population is a US Census Bureau estimate.
- Smaller places close by: Emhouse, TX (23 mi); Powell, TX (24 mi); Goodlow, TX (26 mi) (US Census Bureau).
What a personal loan costs in Cottonwood
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Texas lending rules that apply in Cottonwood
The Texas rate caps and licensing rules that reach Cottonwood are listed below, each with its source and retrieval date.
| 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 Cottonwood
Here is a short checklist for comparing personal loans in Cottonwood:
- 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.