Springfield at a glance
- Population: about 19,494, 32nd by size in Tennessee of 344 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 18,783 residents here (US Census Bureau).
- 2020 to 2023 change: up roughly 3.8% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Tennessee places: 32nd out of 344 Census places (US Census Bureau).
- Size percentile: roughly 91% of Tennessee's places have fewer residents (US Census Bureau).
- Coordinates: 36.4936, -86.8722 (US Census Bureau Gazetteer).
- Nearest larger cities: Hendersonville, TN (20 mi); Gallatin, TN (24 mi); Clarksville, TN (27 mi); Mount Juliet, TN (29 mi); Brentwood, TN (35 mi) (Census populations, approximate straight-line distance).
- Nearest smaller places: Greenbrier, TN (7 mi); Coopertown, TN (8 mi); Cedar Hill, TN (8 mi) (US Census Bureau estimates).
What a personal loan costs in Springfield
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Tennessee lending rules that apply in Springfield
The table lists the Tennessee rules that apply to a loan made in Springfield, each with the regulator that published it.
| 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 Springfield
A few practical steps will make the process in Springfield 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.