Cove at a glance
- Population: 326 (US Census Bureau, Vintage 2023 subcounty estimate), the 314th-largest of 500 places in Arkansas.
- 2020 Census base: 322 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 1.2% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Arkansas places: the 314th-largest of 500 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 37% of the places in Arkansas (US Census Bureau).
- Coordinates: latitude 34.4390, longitude -94.4223 (US Census Bureau Gazetteer).
- Nearest larger cities: Hatfield, AR (4 mi); Wickes, AR (11 mi); Mena, AR (14 mi); Grannis, AR (15 mi); De Queen, AR (28 mi); US Census Bureau population estimates.
- Nearest smaller towns: Vandervoort, AR (5 mi); Gillham, AR (20 mi); Hochatown, OK (27 mi) (US Census Bureau).
What a personal loan costs in Cove
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Arkansas lending rules that apply in Cove
The Arkansas rate caps and licensing rules that reach Cove are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Arkansas State Bank Department Source says: "The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas". | Arkansas State Bank Department as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 17% per annum for loans not made by or to governmental units or by federally insured depository institutions (Amendment 89, effective January 1, 2011) Source says: "shall not exceed seventeen percent (17%) per annum". | Arkansas Legislature — Arkansas Constitution, Amendment 89, § 3 (proposed by H.J.R. 1004 of 2009) as of 2026-09-16 |
| Payday lending status | Not permitted — all storefront payday lending eliminated; the Attorney General has worked to eliminate all forms of payday lending since 2008 Source says: "the Attorney General's office has worked to eliminate all forms of payday lending in Arkansas"; "all storefront payday loan operations in Arkansas have been shut down". | Arkansas Attorney General — Consumer Protection Division as of 2026-09-16 |
| Small-loan / installment lender licensing | See the latest published figure value_text left null: the State Bank Department does not publish a consumer small-loan license rate schedule that could be verified; storefront payday lending has been eliminated (see Payday lending status). See the linked regulator page for the licensee categories it supervises. | Arkansas State Bank Department as of 2026-09-16 |
How to compare offers in Cove
These steps are the ones that most affect the offer you receive in Cove:
- 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 Arkansas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.