Wheelwright at a glance
- Population: 472 people, the 301st-largest place among Kentucky's 416 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 500 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down about 5.6% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Kentucky places: 301st in population of 416 places (US Census Bureau).
- Size percentile: it exceeds roughly 28% of Kentucky's Census places by population (US Census Bureau).
- Coordinates: mapped at 37.3392, -82.7186 by the US Census Bureau Gazetteer.
- Nearest larger cities: Pippa Passes, KY (9 mi); Fleming-Neon, KY (10 mi); Jenkins, KY (12 mi); Pikeville, KY (14 mi); Hindman, KY (14 mi) (Census populations, approximate straight-line distance).
- Smaller places close by: Wayland, KY (9 mi); Allen, KY (19 mi); Vicco, KY (21 mi) (US Census Bureau).
What a personal loan costs in Wheelwright
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.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Kentucky lending rules that apply in Wheelwright
The sourced rows below are the rules a licensed lender must follow when lending in Kentucky, and therefore in Wheelwright.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Wheelwright
The steps below are worth completing first when you borrow in Wheelwright:
- 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.