Raceland at a glance
- Population: about 2,301 residents, ranking 131st of 416 Census places in Kentucky (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 2,343 (US Census Bureau).
- 2020 to 2023 change: roughly 1.8% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Kentucky places: 131st-largest of 416 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 69% of places in Kentucky rank below it by population (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 38.5374, -82.7387.
- Nearest larger cities (within 120 miles): Flatwoods, KY (1 mi); Russell, KY (3 mi); Ironton, OH (3 mi); Ashland, KY (7 mi); South Point, OH (12 mi) (US Census Bureau populations).
- Smaller places nearby: Worthington, KY (1 mi); Hanging Rock, OH (2 mi); Wurtland, KY (2 mi), per US Census Bureau estimates.
What a personal loan costs in Raceland
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
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.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Kentucky lending rules that apply in Raceland
The sourced rows below are the rules a licensed lender must follow when lending in Kentucky, and therefore in Raceland.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Raceland
Before you share your details with a lender in Raceland:
- 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.