Spearman at a glance
- Population: the Census estimates 3,037 residents, ranking 491st of 1,224 places in Texas (Vintage 2023).
- 2020 Census base: 3,158 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: population fell about 3.8% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Texas places: 491st by size among 1,224 communities (US Census Bureau).
- Size percentile: roughly 60% of places in Texas rank below it by population (US Census Bureau).
- Coordinates: 36.1982, -101.1943 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Perryton, TX (26 mi); Guymon, OK (37 mi); Borger, TX (39 mi); Cactus, TX (47 mi); Pampa, TX (47 mi) (US Census Bureau).
- Smaller places nearby: Gruver, TX (13 mi); Hardesty, OK (29 mi); Stinnett, TX (29 mi), per US Census Bureau estimates.
What a personal loan costs in Spearman
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
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 useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Texas lending rules that apply in Spearman
Read the table as the compliance picture for a lender serving Spearman: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Legal via licensed credit access businesses (payday/title-loan brokers); the third-party lender itself is not licensed (Tex. Fin. Code ch. 393) Source says: the credit access business that serves as the broker is the licensee in this regulated industry | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Small-loan / installment lender licensing | License required for non-depository lenders charging more than 10% interest; Chapter 342 governs consumer loans (Tex. Fin. Code § 342.051) Source says: Non-depository lenders who engage in making, transacting, or collecting loans with a rate of interest greater than 10% must be licensed by the OCCC. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| State lending regulator | Texas Office of Consumer Credit Commissioner (OCCC) Source says: The OCCC licenses and regulates non-depository lenders in the state of Texas. | Texas Office of Consumer Credit Commissioner (OCCC) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per year maximum; a greater rate is usurious unless otherwise provided by law (Tex. Fin. Code § 302.001) Source says: The maximum rate or amount of interest is 10 percent a year except as otherwise provided by law. | Texas Legislature (Texas Constitution and Statutes) as of 2026-09-16 |
How to compare offers in Spearman
A few practical steps will make the process in Spearman 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 Texas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.