Medon at a glance
- Population: 191 — 333rd in Tennessee, which has 344 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 189 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: population rose about 1.1% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Tennessee places: 333rd of the state's 344 Census places (US Census Bureau).
- Size percentile: roughly 3% of places in Tennessee rank below it by population (US Census Bureau).
- Coordinates: mapped at 35.4521, -88.8627 by the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Toone, TN (8 mi); Henderson, TN (12 mi); Jackson, TN (14 mi); Finger, TN (15 mi); Bolivar, TN (15 mi) (US Census Bureau).
- Nearest smaller towns: Silerton, TN (8 mi); Enville, TN (25 mi); Hickory Valley, TN (25 mi) (US Census Bureau).
What a personal loan costs in Medon
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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 Medon
The Tennessee rate caps and licensing rules that reach Medon are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Medon
A few practical steps will make the process in Medon less costly:
- 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.