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Personal loans in Colfax, WA

A personal loan in Colfax is an unsecured installment loan for consolidation or a planned expense, and what it costs follows your credit, income and debts. The Census puts Colfax at about 2,773 residents, the 147th-largest of 281 places in Washington. Washington law sets the rate ceilings and the licensing a lender must hold, and the table below lists each sourced figure.

By the Personalloaned Editorial Team · Last updated 2026-09-16

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Colfax at a glance

  • Population: the Census estimates 2,773 residents, ranking 147th of 281 places in Washington (Vintage 2023).
  • 2020 Census base: the 2020 count put the population at 2,789 (US Census Bureau).
  • 2020 to 2023 change: roughly 0.6% fewer residents than at the 2020 Census (US Census Bureau).
  • Rank among Washington places: 147th of the state's 281 Census places (US Census Bureau).
  • Size percentile: larger than about 48% of the Census places in Washington (US Census Bureau).
  • Coordinates: it sits at 46.9224, -117.3015 in the US Census Bureau Gazetteer.
  • Nearest larger cities within 120 miles: Pullman, WA (15 mi); Moscow, ID (20 mi); Clarkston, WA (37 mi); Lewiston, ID (39 mi); Cheney, WA (41 mi) (US Census Bureau).
  • Nearest smaller places: Albion, WA (9 mi); Garfield, WA (10 mi); Palouse, WA (11 mi) (US Census Bureau estimates).

What a personal loan costs in Colfax

Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.

APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.

A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.

Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.

Washington lending rules that apply in Colfax

The table lists the Washington rules that apply to a loan made in Colfax, each with the regulator that published it.

RuleDetailSource
Maximum legal interest rate (usury cap)12% per annum, or four points above the Federal Reserve bill rate, whichever is higher (RCW 19.52.020)
Source says: any rate of interest shall be legal so long as the rate of interest does not exceed the higher of: (a) Twelve percent per annum		Washington State Legislature (RCW)
as of 2026-09-16
Payday lending statusLicensed; small loans capped at $700 or 30% of monthly income, max 45 days, fees 15% on first $500 and 10% above (RCW 31.45)
Source says: Payday lenders must be licensed by DFI — including online lenders that do business with Washington residents.		Washington State Department of Financial Institutions (DFI)
as of 2026-09-16
Small-loan / installment lender licensingConsumer Loan Company license required (Consumer Loan Act, RCW 31.04.035)
Source says: No person may engage in any activity subject to this chapter without first obtaining and maintaining a license in accordance with this chapter.		Washington State Legislature (RCW)
as of 2026-09-16
State lending regulatorWashington State Department of Financial Institutions (DFI)
Source says: DFI licenses and regulates financial institutions and service providers in Washington.		Washington State Department of Financial Institutions (DFI)
as of 2026-09-16

How to compare offers in Colfax

Run through this list before signing anything in Colfax:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Washington using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Colfax?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Colfax are the same as elsewhere in Washington.
How much can I borrow with a personal loan in Colfax?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Colfax require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Colfax hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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