Colfax at a glance
- Population: 2,262, the 150th-largest community in Iowa out of 940 (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,255 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: up roughly 0.3% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Iowa places: 150th of 940 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 84% of Iowa's places have fewer residents (US Census Bureau).
- Coordinates: 41.6798, -93.2363 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Mitchellville, IA (7 mi); Newton, IA (10 mi); Bondurant, IA (11 mi); Altoona, IA (13 mi); Pleasant Hill, IA (15 mi); US Census Bureau population estimates.
- Smaller places nearby: Valeria, IA (6 mi); Prairie City, IA (6 mi); Mingo, IA (6 mi), per US Census Bureau estimates.
What a personal loan costs in Colfax
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Iowa lending rules that apply in Colfax
The sourced rows below are the rules a licensed lender must follow when lending in Iowa, and therefore in Colfax.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Colfax
Before you share your details with a lender in Colfax:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.