Wartrace at a glance
- Population: 666, the 265th-largest community in Tennessee out of 344 (US Census Bureau, Vintage 2023).
- 2020 Census base: 652 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: roughly 2.1% higher than at the 2020 Census (US Census Bureau).
- Rank among Tennessee places: 265th of 344 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 23% of places in Tennessee are smaller (US Census Bureau).
- Coordinates: mapped at 35.5253, -86.3301 by the US Census Bureau Gazetteer.
- Nearest larger cities: Shelbyville, TN (7 mi); Tullahoma, TN (12 mi); Manchester, TN (15 mi); Lynchburg, Moore County, TN (16 mi); Estill Springs, TN (21 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Bell Buckle, TN (5 mi); Normandy, TN (6 mi); Petersburg, TN (23 mi) (US Census Bureau).
What a personal loan costs in Wartrace
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Tennessee lending rules that apply in Wartrace
The sourced rows below are the rules a licensed lender must follow when lending in Tennessee, and therefore in Wartrace.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Wartrace
A few practical steps will make the process in Wartrace 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.