Lakeland at a glance
- Population: 14,147 residents, the 43rd-largest of 344 places in Tennessee (US Census Bureau, Vintage 2023).
- 2020 Census base: 13,925 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 1.6% higher than at the 2020 Census (US Census Bureau).
- Rank among Tennessee places: 43rd in population of 344 places (US Census Bureau).
- Size percentile: it exceeds roughly 88% of Tennessee's Census places by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 35.2628, -89.7250.
- Nearest larger cities within 120 miles: Arlington, TN (4 mi); Bartlett, TN (6 mi); Germantown, TN (13 mi); Collierville, TN (15 mi); Memphis, TN (17 mi) (US Census Bureau).
- Nearest smaller communities: Gallaway, TN (8 mi); Oakland, TN (11 mi); Millington, TN (11 mi), each a US Census place.
What a personal loan costs in Lakeland
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Tennessee lending rules that apply in Lakeland
Each row below is a Tennessee rule with its publisher and the date it was retrieved.
| 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 Lakeland
Run through this list before signing anything in Lakeland:
- 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.