Cobalt at a glance
- Population: 262 residents, the 600th-largest of 937 places in Missouri (US Census Bureau, Vintage 2023).
- 2020 Census base: 262 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: under a tenth of a percent either way (US Census Bureau Vintage 2023 estimate).
- Rank among Missouri places: 600th by size among 937 communities (US Census Bureau).
- Size percentile: about 36% of Missouri's Census places are smaller (US Census Bureau).
- Coordinates: 37.5451 / -90.2869, per the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Fredericktown, MO (2 mi); Junction City, MO (2 mi); Farmington, MO (18 mi); Arcadia, MO (19 mi); Ironton, MO (19 mi) (US Census Bureau).
- Nearest smaller towns: Marquand, MO (10 mi); Sedgewickville, MO (21 mi); Glen Allen, MO (21 mi) — US Census Bureau populations.
What a personal loan costs in Cobalt
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Missouri lending rules that apply in Cobalt
The table carries the Missouri rate and licensing rules that apply to consumer loans made in Cobalt.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 10% per annum, or the higher published 'market rate' (RSMo § 408.030) Source says: "a rate of interest not exceeding ten percent per annum on money due or to become due upon any contract" | Missouri Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed — unsecured loans of $500 or less require a license from the Director of the Division of Finance (RSMo § 408.500) Source says: "in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance" | Missouri Revisor of Statutes as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer credit lenders licensed and regulated by the Division of Finance's consumer credit section (Chapters 367 and 408, RSMo) Source says: "The consumer credit section of the Missouri Division of Finance is responsible for licensing and regulating various types of consumer finance companies" | Missouri Division of Finance as of 2026-09-16 |
| State lending regulator | Missouri Division of Finance (Department of Commerce and Insurance) Source says: "We regulate state-chartered banks, trust companies, consumer credit facilities, mortgage brokers, and savings and loan institutions" | Missouri Division of Finance as of 2026-09-16 |
| Additional loan fee cap (30+ day loans) | Up to 10% of principal, capped at $100 (RSMo § 408.140) Source says: "a fee, not to exceed ten percent of the principal amount loaned not to exceed one hundred dollars may be charged by the lender" | Missouri Revisor of Statutes as of 2026-09-16 |
How to compare offers in Cobalt
The steps below are worth completing first when you borrow in Cobalt:
- 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 Missouri using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.