Carthage at a glance
- Population: roughly 127 people; 208th of 309 places in South Dakota (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 130 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a loss of about 2.3% since the 2020 count (US Census Bureau).
- Rank among South Dakota places: 208th by size among 309 communities (US Census Bureau).
- Size percentile: larger than about 33% of the Census places in South Dakota (US Census Bureau).
- Coordinates: 44.1648, -97.7203 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Howard, SD (14 mi); Artesian, SD (15 mi); Iroquois, SD (15 mi); De Smet, SD (17 mi); Cavour, SD (21 mi); each population is a US Census Bureau estimate.
- Smaller towns nearby: Vilas, SD (12 mi); Oldham, SD (21 mi); Canova, SD (22 mi) (US Census Bureau).
What a personal loan costs in Carthage
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
South Dakota lending rules that apply in Carthage
The sourced rows below are the rules a licensed lender must follow when lending in South Dakota, and therefore in Carthage.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Money Lender license (SDCL ch. 54-4) required for anyone lending money or creating/holding/purchasing retail installment contracts; payday and title lenders are licensed as money lenders. Source says: "to be a Money Lender and subject to the licensing requirements of South Dakota Codified Laws (SDCL) Chapter 54-4"; "Payday and title lenders are also licensed as Money Lenders under SDCL Chapter 54-4." | South Dakota Division of Banking (Department of Labor and Regulation) as of 2026-09-16 |
| State lending regulator | South Dakota Division of Banking (Department of Labor and Regulation) Source says: "The Division of Banking is charged with the regulation and supervision of state chartered and licensed financial institutions." | South Dakota Division of Banking (Department of Labor and Regulation) as of 2026-09-16 |
| Initiated Measure 21 anti-evasion rule (state-specific rule) | Initiated Measure 21 (2016) also bars evasion by indirect means; applies to loans originated, refinanced, rolled over, renewed or flipped after November 15, 2016. Source says: "prohibits these money lenders from evading this rate limitation by indirect means... a loan made in violation of this measure is void" (Division of Banking guidance on Initiated Measure 21). | South Dakota Division of Banking (Department of Labor and Regulation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | No general maximum/usury restriction when the rate is set by written agreement; specific caps elsewhere in the code apply (e.g., 36% for licensed money lenders). Source says: "no maximum interest rate or charge, or usury rate restriction... if they establish the interest rate or charge by written agreement" (SDCL 54-3-1.1). | South Dakota Legislature (South Dakota Codified Laws) as of 2026-09-16 |
| Payday lending status | Legal for licensed money lenders (including payday and title lenders) but capped at 36% APR including all fees and charges; violations are a Class 1 misdemeanor and loans are void. Source says: "no licensee may contract for or receive finance charges pursuant to a loan in excess of an annual rate of thirty-six percent" (SDCL 54-4-44); "A violation of this section is a Class 1 misdemeanor. Any loan made in violation of this section is void and uncollectible" (54-4-44). | South Dakota Legislature (South Dakota Codified Laws) as of 2026-09-16 |
How to compare offers in Carthage
Before you share your details with a lender in Carthage:
- 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 South Dakota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.