Colstrip at a glance
- Population: 2,055, the 35th-largest community in Montana out of 127 (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,097 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: down roughly 2.0% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Montana places: the 35th-largest of 127 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 72% of places in Montana rank below it by population (US Census Bureau).
- Coordinates: 45.8945, -106.6284 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Hardin, MT (48 mi); Miles City, MT (52 mi); Sheridan, WY (78 mi); Billings, MT (93 mi); Laurel, MT (105 mi) (US Census Bureau populations).
- Nearest smaller towns: Forsyth, MT (26 mi); Hysham, MT (40 mi); Lodge Grass, MT (54 mi) (US Census Bureau).
What a personal loan costs in Colstrip
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
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.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Montana lending rules that apply in Colstrip
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer loan license required under the Montana Consumer Loan Act (32-5-101); licensing through NMLS Source says: "A consumer loan license is needed to engage in business as defined in the Montana Consumer Loan Act" | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
| State lending regulator | Montana Division of Banking and Financial Institutions (BFID), Department of Administration Source says: "The Montana Division of Banking and Financial Institutions (Division) does all of its licensing through the Nationwide Multistate Licensing System (NMLS)." | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
| Deferred deposit loan license requirement (MCA 31-1-705) | A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department Source says: "A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department." | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Greater of 15% or prime rate + 6 percentage points per year (written agreement); regulated lenders exempt Source says: "Parties may agree in writing to the payment of any rate of interest that does not exceed the greater of 15%" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit lenders must be licensed; fee capped at 36% per annum Source says: "A licensee may not charge a fee for making or carrying each deferred deposit loan authorized by this part that exceeds 36% per annum" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
How to compare offers in Colstrip
The order below is a sensible way to approach a loan in Colstrip:
- 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 Montana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.