Cimarron at a glance
- Population: a Census-estimated 789, placing it 70th among New Mexico's 105 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 791 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 0.3% lower than the 2020 Census base (US Census Bureau).
- Rank among New Mexico places: 70th in population of 105 places (US Census Bureau).
- Size percentile: about 33% of places in New Mexico are smaller (US Census Bureau).
- Coordinates: 36.5083 / -104.9104, per the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Springer, NM (20 mi); Angel Fire, NM (21 mi); Raton, NM (37 mi); Taos, NM (38 mi); Questa, NM (41 mi) (US Census Bureau populations).
- Nearest smaller towns: Eagle Nest, NM (20 mi); Maxwell, NM (21 mi); Taos Ski Valley, NM (30 mi) (US Census Bureau).
What a personal loan costs in Cimarron
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
New Mexico lending rules that apply in Cimarron
Each row below is a New Mexico rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 15% annually absent a written contract fixing a different rate (NMSA 1978, 56-8-3) Source says: "The rate of interest, in the absence of a written contract fixing a different rate, shall be not more than fifteen percent annually" | New Mexico Compilation Commission (NMOneSource, official NMSA) as of 2026-09-16 |
| Payday lending status | Payday-style small loans capped at 36% APR (HB 132 of 2022; effective January 1, 2023; cap rises only if prime rate exceeds 10% for three consecutive months) Source says: "a permitted annual percentage rate greater than thirty-six percent, calculated pursuant to 12 CFR Part 1026" | New Mexico Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | Lenders making Bank Installment Loan Act loans (other than federally insured depositories) must be licensed under the Small Loan Act (2022 requirement) Source says: "a new requirement for lenders making loans under the BILA (other than a federally insured depository institution) to be licensed under the SLA" | New Mexico Legislature (Legislative Finance Committee fiscal impact report) as of 2026-09-16 |
| State lending regulator | New Mexico Financial Institutions Division (FID), Regulation and Licensing Department Source says: "We regulate a variety of financial institutions operating in New Mexico including:" | New Mexico Regulation and Licensing Department, Financial Institutions Division as of 2026-09-16 |
| Small loan company licensing/regulation | Small loan companies are a regulated institution category of the Financial Institutions Division Source says: "Small Loan Companies" | New Mexico Regulation and Licensing Department, Financial Institutions Division as of 2026-09-16 |
How to compare offers in Cimarron
The order below is a sensible way to approach a loan in Cimarron:
- 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 New Mexico using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.