Grayson at a glance
- Population: 3,807 — 93rd in Kentucky, which has 416 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 3,840 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: down about 0.9% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Kentucky places: 93rd in population of 416 places (US Census Bureau).
- Size percentile: about 78% of Kentucky's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 38.3339, -82.9358 by the US Census Bureau Gazetteer.
- Nearest larger cities: Flatwoods, KY (18 mi); Ashland, KY (18 mi); Ironton, OH (20 mi); Huntington, WV (28 mi); Portsmouth, OH (29 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Olive Hill, KY (13 mi); Wurtland, KY (17 mi); Greenup, KY (17 mi) (Census populations).
What a personal loan costs in Grayson
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
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.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Kentucky lending rules that apply in Grayson
The table lists the Kentucky rules that apply to a loan made in Grayson, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 status | Permitted 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 licensing | Consumer 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 regulator | Kentucky 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 |
| Consumer Loan Company license — statutory basis | License 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 |
How to compare offers in Grayson
These steps are the ones that most affect the offer you receive in Grayson:
- 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 Kentucky using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.