- Payday loans in Benton follow Kentucky law (KRS 286.9 (deferred deposit transactions)).
- Borrowing $300 at the state maximum costs $45 ($15 per $100).
- 1 credit union is headquartered in Benton; ask about small-dollar loans before borrowing.
Benton at a glance
| Benton | |
|---|---|
| Population (2024 Census estimate) | 4,726 |
| Change since 2020 | -0.8% (holding steady) |
| County | Marshall County |
| Size rank among 359 Kentucky places we cover | 82nd |
| Nearest larger city | Paducah (about 22 miles) |
| Credit unions headquartered in town (NCUA) | 1, 1 federal |
| Credit unions headquartered in Marshall County | 1 |
| Other towns within 25 miles | 9 (about 61,938 residents) |
| Typical payday APR statewide (CRL 2023) | 450% |
Whether you borrow at a storefront in Paducah or online from Benton, the lender must hold a Kentucky license from the Kentucky Department of Financial Institutions and follow state limits.
Credit unions in Benton
These credit unions have their main office in Benton, according to NCUA call report data (June 2026):
- Lake Chem Community Federal Credit Union (federal charter — may offer payday alternative loans (PALs))
Only federal credit unions can offer payday alternative loans (PALs), capped at 28% APR; state-chartered credit unions often have their own small-loan products. Membership rules apply, and only main offices are listed here; find branches near you with the NCUA Credit Union Locator. See how PALs work.
Payday loan rules that apply in Benton
Key Kentucky limits that apply to Benton borrowers: maximum: $600 in total proceeds under 2026 legislation (SB 219), indexed to inflation up to $850; previously $500; maximum fee: $15 per $100; loan term: 14 to 60 days. See the full Kentucky payday loan rules.
What a $300 loan costs in Benton
At Kentucky’s maximum fee, borrowing $300 costs $45 ($15 per $100). Statewide, the typical APR on a $400 payday loan was 450% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Marshall County before you borrow
- Credit union payday alternative loans (PALs): $200–$2,000 at no more than 28% APR. Search for a federal credit union in Benton that offers them. See how PALs work.
- Your bank’s small-dollar loan, if it offers one. See bank small-dollar loans.
- Cash advance apps for $20–$500 based on your direct deposits. See apps compared.
- 211: call or text 211 for local help with rent, utilities and food.
Towns near Benton
The nearest larger city is Paducah, about 22 miles away. See all 359 Kentucky cities.
Need cash before payday?Send one free request to our lender network. We are not a lender; offers and rates come from lenders.
Request a loanFrequently asked questions
Are payday loans legal in Benton?
Yes. Payday loans are legal in Benton under Kentucky state law, and lenders must be licensed by the Kentucky Department of Financial Institutions.
How much does a payday loan cost in Benton?
At Kentucky’s maximum fee, borrowing $300 costs $45 ($15 per $100). The typical statewide APR was 450% in 2023.
Are there credit unions in Benton?
Yes. NCUA data lists 1 credit union with a main office in Benton, including Lake Chem Community Federal Credit Union. Federal credit unions can offer payday alternative loans capped at 28% APR.
Sources
- U.S. Census Bureau — City and town population totals, Vintage 2024
- U.S. Census Bureau — 2024 Gazetteer files (place locations)
- NCUA — Credit union call report data, June 2026 (FOICU)
- KRS 286.9-100
- Kentucky Acts 2026, ch. 98 (SB 219)
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary