Drakesville at a glance
- Population: about 170, 706th by size in Iowa of 940 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 164 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 3.7% higher than at the 2020 Census (US Census Bureau).
- Rank among Iowa places: 706th out of 940 Census places (US Census Bureau).
- Size percentile: about 25% of Iowa's Census places are smaller (US Census Bureau).
- Coordinates: latitude 40.7986, longitude -92.4813 (US Census Bureau Gazetteer).
- Nearest larger cities: Bloomfield, IA (5 mi); Moulton, IA (13 mi); Pulaski, IA (13 mi); Blakesburg, IA (14 mi); Ottumwa, IA (16 mi), each a US Census place with its estimated population.
- Nearest smaller places: Floris, IA (9 mi); Unionville, IA (11 mi); Udell, IA (14 mi) (US Census Bureau estimates).
What a personal loan costs in Drakesville
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.
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.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Iowa lending rules that apply in Drakesville
The sourced rows below are the rules a licensed lender must follow when lending in Iowa, and therefore in Drakesville.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Drakesville
The order below is a sensible way to approach a loan in Drakesville:
- 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.