Erda at a glance
- Population: 4,045 — 99th in Utah, which has 255 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 3,552 (US Census Bureau).
- 2020 to 2023 change: about 13.9% more residents than the 2020 Census base (US Census Bureau).
- Rank among Utah places: 99th of 255 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 61% of the places in Utah (US Census Bureau).
- Coordinates: latitude 40.6181, longitude -112.3089 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Tooele, UT (5 mi); Grantsville, UT (8 mi); Magna metro, UT (12 mi); Kearns metro, UT (16 mi); West Jordan, UT (16 mi) (US Census Bureau).
- Nearest smaller communities: Lake Point, UT (5 mi); Copperton metro, UT (12 mi); Stockton, UT (13 mi), each a US Census place.
What a personal loan costs in Erda
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
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.
Utah lending rules that apply in Erda
The Utah rate caps and licensing rules that reach Erda are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Utah Department of Financial Institutions (DFI) Source says: The Department of Financial Institutions regulates 19 banks, 22 credit unions, 17 industrial banks and 1 trust company. | Utah Department of Financial Institutions (DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | No general cap — parties may agree to any rate; 10% per annum legal rate if no rate is specified (Utah Code § 15-1-1) Source says: The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest for the contract | Utah State Legislature as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit lenders must register with the Utah DFI (Utah Code Title 7, ch. 23) Source says: It is unlawful for a person to engage in the business of cashing checks or the business of deferred deposit lending in Utah | Utah State Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lenders under the Utah Consumer Credit Code (Title 70C) must file a Consumer Credit Notification via NMLS Source says: Entities subject to the UCCC's notification requirement must file a Consumer Credit Notification (CCN) through the Nationwide Multistate Licensing System (NMLS). | Utah Department of Financial Institutions (DFI) as of 2026-09-16 |
How to compare offers in Erda
Here is a short checklist for comparing personal loans in Erda:
- 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 Utah using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.