Personal loans in Franklin, AL

The first question in Franklin is not the rate on offer but whether the payment fits; about 567 people live here under Alabama lending law. By population, Franklin sits at 322nd in Alabama, with an estimated 567 residents.

By the Personalloaner Editorial Team · Last updated 2026-09-16

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Census figures put the 2020-to-2023 decrease in Franklin at about 3.7%. Pull your credit reports and line up at least three offers before you apply from Franklin. Borrowers who want a bigger city can look to Tuskegee, AL about 6 miles away. State law, not city hall, decides what a lender may do to Franklin's roughly 567 residents, and a state regulator supervises it.

The Franklin data picture

The figures below are Franklin's own — Census population, land area and coordinates — followed by the Alabama rules.

Population: the Census counts 567 residents in Franklin (Vintage 2023 subcounty estimate), the 322nd-largest figure among Alabama's 462 places.
Population trend: Down about 3.7% from the 2020 Census base to the 2023 estimate.
Change in people: the 2020-to-2023 comparison is a loss of about 22 residents.
Size percentile: about 30% of Alabama's Census places are smaller than Franklin.
Population density: about 38 people per square mile across 15.1 square miles of land (Census Gazetteer area, Vintage 2023 population).
Land area: Franklin covers 15.1 square miles, the 100th-largest area among Alabama's 462 places.
Water area: Franklin has 0.04 square miles of water, ranking 180th of 462 places in Alabama.
State population share: Franklin accounts for about 0.0% of everyone in Alabama.
National rank: Franklin sits 12,656th by population among the 19,457 places in this dataset.
Growth in Alabama: Franklin stands 392nd by percentage change from 2020 to 2023, among 462 places.
State comparison: Alabama's places average +1.0% for 2020-to-2023, against Franklin's 3.7%.
Density rank: Franklin places 455th among Alabama's places by people per square mile.
Density in context: Franklin's 38 people per square mile sit against a Alabama median of 259.
Location: 32.4527, -85.7854 (Census Gazetteer coordinates).
Nearest larger cities: Tuskegee (6 mi); Tallassee (8 mi); Notasulga (10 mi); Eclectic (20 mi); Auburn (20 mi). Larger metros often have more branches, but online lenders reach Franklin on the same terms.
Smaller communities within reach: Shorter (11 mi); Loachapoka (15 mi); Waverly (23 mi).
Smaller neighbours: 15 places smaller than Franklin sit within 50 miles.
At 100 miles: 198 larger Census places fall inside that radius.

Franklin on the map

The Census Gazetteer records 15.1 square miles of land and 0.04 square miles of water within Franklin. With 567 residents, the land area yields roughly 38 people per square mile. For the state's biggest city, Huntsville, the distance is roughly 163 miles. Franklin has 31 larger places within a 50-mile radius. Within the same 50 miles lie 15 smaller Census places.

How lenders reach Franklin

Franklin is sparsely settled, with about 38 people per square mile and 31 larger places within 50 miles. Lenders licensed in Alabama reach Franklin's 567 residents online, so the nearest branch is not what sets your APR. The nearest bigger place is Tuskegee, AL about 6 miles away.

Franklin against the rest of Alabama

Franklin is the 322nd-largest of 462 Census places in Alabama and contains about 0.0% of the state's people. For population change between 2020 and 2023, Franklin ranks 392nd of 462 in Alabama (about the 15th percentile). Its roughly 38 residents per square mile place it 455th among Alabama's places. The population moved by about 22 people between 2020 and 2023, a 3.7% shift.

What a Franklin borrower is actually offered

A Franklin personal loan is an installment loan: a lump sum, then fixed monthly payments over a set term, priced off your credit rather than its 567 residents. Federal Truth in Lending rules require a Franklin lender to disclose the APR and finance charge before you sign. The term you choose in Franklin decides the split between a comfortable payment and the total interest you pay.

The Alabama lending rules that reach Franklin

The rows below set out what a licensed lender must follow in Alabama, and so for Franklin's roughly 567 residents.

Rule	Detail	Source
State lending regulator	Alabama State Banking Department — Bureau of Loans (BOL) Source says: "The Bureau of Loans (hereinafter “the BOL”) was established in 1945". The BOL administers the Small Loan Act, Consumer Credit Act, Pawn Shop Act, Mortgage Brokers Licensing Act, Deferred Presentment Services Act and SAFE Act.	Alabama State Banking Department as of 2026-09-16
Maximum legal interest rate (usury cap)	6% per annum without a written contract; 8% per annum by written contract Source says: "except by written contract is $6 upon $100 for one year"; "the rate of interest by written contract is not to exceed $8 upon $100 for one year". (Code text retrieved from the Alabama Legislature's official Code of Alabama service.)	Alabama Legislature — Code of Alabama 1975, § 8-8-1 as of 2026-09-16
Payday lending status	Permitted — deferred presentment services licensed by the supervisor; maximum advance $500; maximum fee 17.5% of amount advanced Source says: "a maximum fee on any deferred presentment transaction not to exceed 17.5 percent of the amount advanced"; "The maximum amount that may be advanced in any deferred presentment transaction is five hundred dollars ($500)".	Alabama State Banking Department — Deferred Presentment Services Act (Code of Alabama §§ 5-18A-1 et seq.) as of 2026-09-16

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Common questions

What are my options in Franklin if my credit is poor?

Borrowing is still possible, but expect a higher APR and a smaller approved amount. Lenders that accept lower scores hold statewide licences, so what is open to you in Franklin is the same as anywhere in Alabama.

What loan size can I expect in Franklin?

Most personal loans sit somewhere between $1,000 and $50,000, though the figure you are approved for turns on the lender, your income and your credit. Model the monthly payment first with our personal loan calculator.

Do I have to pledge anything to borrow in Franklin?

For an unsecured personal loan, no — there is nothing to pledge. A secured loan, such as home equity or one secured by a vehicle, does require collateral, and default puts that asset at risk.

Does comparing loans in Franklin cost me credit score points?

Not during pre-qualification, which normally uses a soft pull and leaves your score alone. Submitting a full application triggers a hard inquiry, which can trim a few points briefly.

Nearby places

Tuskegee, AL — population 8,765
Tallassee, AL — population 4,753
Notasulga, AL — population 875
Shorter, AL — population 371
Loachapoka, AL — population 162
Eclectic, AL — population 1,209
Union Springs, AL — population 3,154
Auburn, AL — population 82,025