Lexington-Fayette at a glance
- Population: the Census estimates 320,154 residents, ranking 1st of 416 places in Kentucky (Vintage 2023).
- 2020 Census base: the 2020 count put the population at 322,564 (US Census Bureau).
- 2020 to 2023 change: population fell about 0.7% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Kentucky places: 1st in population of 416 places (US Census Bureau).
- Size percentile: it is larger than about 99% of the places in Kentucky (US Census Bureau).
- Coordinates: mapped at 38.0407, -84.4583 by the US Census Bureau Gazetteer.
- Nearest larger cities: there is no larger Census place within 120 miles.
- Nearest smaller towns: Nicholasville, KY (12 mi); Keene, KY (12 mi); Midway, KY (14 mi) — US Census Bureau populations.
What a personal loan costs in Lexington-Fayette
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Kentucky lending rules that apply in Lexington-Fayette
The Kentucky rate caps and licensing rules that reach Lexington-Fayette are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lexington-Fayette
Before you share your details with a lender in Lexington-Fayette:
- 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.