Elaine at a glance
- Population: 456 (US Census Bureau, Vintage 2023 subcounty estimate), the 272nd-largest of 500 places in Arkansas.
- 2020 Census base: 513 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: down about 11.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Arkansas places: 272nd of 500 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 46% of places in Arkansas rank below it by population (US Census Bureau).
- Coordinates: 34.3086 / -90.8533, per the US Census Bureau Gazetteer.
- Nearest larger cities: Friars Point, MS (13 mi); Marvell, AR (17 mi); Clarksdale, MS (18 mi); Helena-West Helena, AR (20 mi); Jonestown, MS (23 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Lake View, AR (8 mi); St. Charles, AR (17 mi); Alligator, MS (17 mi) (US Census Bureau).
What a personal loan costs in Elaine
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Arkansas lending rules that apply in Elaine
Read the table as the compliance picture for a lender serving Elaine: label, sourced figure, publisher and 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 Elaine
The order below is a sensible way to approach a loan in Elaine:
- 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.