Loretto at a glance
- Population: about 714 residents, ranking 251st of 416 Census places in Kentucky (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 717 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 0.4% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Kentucky places: 251st of the state's 416 Census places (US Census Bureau).
- Size percentile: roughly 40% of Kentucky's places have fewer residents (US Census Bureau).
- Coordinates: 37.6420, -85.3931 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Lebanon, KY (9 mi); Springfield, KY (10 mi); New Haven, KY (11 mi); Bardstown, KY (13 mi); Bloomfield, KY (19 mi) (US Census Bureau populations).
- Nearest smaller communities: St. Mary, KY (5 mi); Raywick, KY (6 mi); Bradfordsville, KY (17 mi) (Census populations).
What a personal loan costs in Loretto
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Kentucky lending rules that apply in Loretto
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Loretto
The order below is a sensible way to approach a loan in Loretto:
- 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.