Damascus at a glance
- Population: 391 people, the 294th-largest place among Arkansas's 500 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 385 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.6% more residents than the 2020 Census base (US Census Bureau).
- Rank among Arkansas places: 294th-largest of 500 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it is larger than about 41% of the places in Arkansas (US Census Bureau).
- Coordinates: mapped at 35.3671, -92.4107 by the US Census Bureau Gazetteer.
- Nearest larger cities: Guy, AR (5 mi); Greenbrier, AR (10 mi); Quitman, AR (11 mi); Wooster, AR (12 mi); Clinton, AR (15 mi); US Census Bureau population estimates.
- Nearest smaller communities: Twin Groves, AR (3 mi); Enola, AR (17 mi); Menifee, AR (17 mi) (Census populations).
What a personal loan costs in Damascus
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
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.
Arkansas lending rules that apply in Damascus
The Arkansas rate caps and licensing rules that reach Damascus are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Damascus
Run through this list before signing anything in Damascus:
- 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.