Grand Junction at a glance
- Population: 338 (US Census Bureau, Vintage 2023 subcounty estimate), the 311th-largest of 344 places in Tennessee.
- 2020 Census base: 341 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a decline of roughly 0.9% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Tennessee places: 311th-largest of 344 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it is larger than about 10% of the places in Tennessee (US Census Bureau).
- Coordinates: latitude 35.0500, longitude -89.1889 (US Census Bureau Gazetteer).
- Nearest larger cities: Moscow, TN (11 mi); Ashland, MS (15 mi); Somerville, TN (16 mi); Walnut, MS (16 mi); Middleton, TN (17 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: La Grange, TN (3 mi); Saulsbury, TN (6 mi); Hickory Valley, TN (8 mi) (US Census Bureau estimates).
What a personal loan costs in Grand Junction
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Tennessee lending rules that apply in Grand Junction
The Tennessee rate caps and licensing rules that reach Grand Junction are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Grand Junction
Before you commit to a personal loan in Grand Junction, work through these steps:
- 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.