Elmo at a glance
- Population: 111 residents, the 778th-largest of 937 places in Missouri (US Census Bureau, Vintage 2023).
- 2020 Census base: 116 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: down roughly 4.3% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Missouri places: 778th-largest of 937 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: ahead of around 17% of Missouri places in population terms (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 40.5187, -95.1170.
- Nearest larger cities within 120 miles: Clearmont, MO (4 mi); Burlington Junction, MO (6 mi); Braddyville, IA (6 mi); College Springs, IA (7 mi); Shambaugh, IA (11 mi) (US Census Bureau).
- Nearest smaller towns: Blanchard, IA (7 mi); Northboro, IA (11 mi); Yorktown, IA (15 mi) (US Census Bureau).
What a personal loan costs in Elmo
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Missouri lending rules that apply in Elmo
The sourced rows below are the rules a licensed lender must follow when lending in Missouri, and therefore in Elmo.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer credit lenders licensed and regulated by the Division of Finance's consumer credit section (Chapters 367 and 408, RSMo) Source says: "The consumer credit section of the Missouri Division of Finance is responsible for licensing and regulating various types of consumer finance companies" | Missouri Division of Finance as of 2026-09-16 |
| State lending regulator | Missouri Division of Finance (Department of Commerce and Insurance) Source says: "We regulate state-chartered banks, trust companies, consumer credit facilities, mortgage brokers, and savings and loan institutions" | Missouri Division of Finance as of 2026-09-16 |
| Additional loan fee cap (30+ day loans) | Up to 10% of principal, capped at $100 (RSMo § 408.140) Source says: "a fee, not to exceed ten percent of the principal amount loaned not to exceed one hundred dollars may be charged by the lender" | Missouri Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per annum, or the higher published 'market rate' (RSMo § 408.030) Source says: "a rate of interest not exceeding ten percent per annum on money due or to become due upon any contract" | Missouri Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed — unsecured loans of $500 or less require a license from the Director of the Division of Finance (RSMo § 408.500) Source says: "in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance" | Missouri Revisor of Statutes as of 2026-09-16 |
How to compare offers in Elmo
Before you share your details with a lender in Elmo:
- 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 Missouri using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.