Alma at a glance
- Population: 312, the 215th-largest community in Colorado out of 270 (US Census Bureau, Vintage 2023).
- 2020 Census base: 296 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 5.4% higher than at the 2020 Census (US Census Bureau).
- Rank among Colorado places: 215th of 270 by population (US Census Bureau, Vintage 2023).
- Size percentile: ahead of around 20% of Colorado places in population terms (US Census Bureau).
- Coordinates: mapped at 39.2861, -106.0689 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Fairplay, CO (6 mi); Blue River, CO (11 mi); Leadville, CO (12 mi); Breckenridge, CO (15 mi); Frisco, CO (20 mi) (US Census Bureau).
- Nearest smaller communities: Red Cliff, CO (22 mi); Montezuma, CO (23 mi); Silver Plume, CO (34 mi) (Census populations).
What a personal loan costs in Alma
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
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.
Colorado lending rules that apply in Alma
The Colorado rate caps and licensing rules that reach Alma are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Supervised lender license required from the UCCC Administrator (master license required for more than one place of business); deferred deposit lenders must hold a supervised lender's license Source says: "if a supervised lender has more than one place of business, they must obtain a master license"; "no person shall engage in the business of deferred deposit loans without having first obtained a supervised lender's license" (C.R.S. § 5-3.1-116). | Colorado Attorney General — Uniform Consumer Credit Code licensing as of 2026-09-16 |
| State lending regulator | Colorado Attorney General's Office — Consumer Credit Unit (Administrator of the Uniform Consumer Credit Code) Source says: "The Consumer Credit Unit regulates (through licensure/registration programs) companies and individuals involved in consumer lending"; it "licenses non-bank lenders such as finance companies and payday lenders". | Colorado Attorney General — Consumer Protection Section as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | UCCC finance-charge ceilings: 12% per year on non-supervised consumer loans; supervised loans 36% on the first $1,000, 21% on $1,000–$3,000, 15% above $3,000 (or 21% flat); 21% on revolving accounts Source says: "not exceeding twelve percent per year on the unpaid balance of the amount financed"; "Thirty-six percent per year on that part of the unpaid balances of the amount financed that is one thousand dollars or less"; "Twenty-one percent per year on the unpaid balances of the amount financed". | Colorado General Assembly — C.R.S. § 5-2-201 (Colorado Revised Statutes 2024, Title 5) as of 2026-09-16 |
| Payday lending status | Permitted but capped at 36% APR (Proposition 111, effective February 1, 2019) Source says: "a finance charge for each deferred deposit loan or payday loan that must not exceed an annual percentage rate of thirty-six percent". | Colorado General Assembly — C.R.S. § 5-3.1-105 (Deferred Deposit Loan Act) as of 2026-09-16 |
How to compare offers in Alma
The steps below are worth completing first when you borrow in Alma:
- 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 Colorado using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.