Franklin at a glance
- Population: a Census-estimated 1,120, placing it 79th among Idaho's 197 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 1,024 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: population rose about 9.4% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Idaho places: 79th in population of 197 places (US Census Bureau).
- Size percentile: it exceeds roughly 60% of Idaho's Census places by population (US Census Bureau).
- Coordinates: latitude 42.0095, longitude -111.8022 (US Census Bureau Gazetteer).
- Nearest larger cities: Lewiston, UT (5 mi); Richmond, UT (6 mi); Preston, ID (7 mi); Smithfield, UT (12 mi); Hyde Park, UT (14 mi); US Census Bureau population estimates.
- Nearest smaller communities: Cornish, UT (9 mi); Weston, ID (9 mi); Trenton, UT (10 mi) (Census populations).
What a personal loan costs in Franklin
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Idaho lending rules that apply in Franklin
The table carries the Idaho rate and licensing rules that apply to consumer loans made in Franklin.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Idaho Department of Finance (IDOF) Source says: "Safeguarding the financial health of Idahoans through the appropriate oversight of diverse financial institutions, the education and protection of consumers". | Idaho Department of Finance as of 2026-09-16 |
| Idaho Credit Code finance-charge rule | No statutory maximum finance-charge rate — rate as agreed by the parties (Idaho Credit Code) Source says: "the rate of finance charge shall be that which is agreed upon between the parties to the transaction". | Idaho State Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per annum legal rate (when no written contract fixes a different rate) Source says: "interest is allowed at the rate of twelve cents (12¢) on the hundred by the year". | Idaho State Legislature as of 2026-09-16 |
| Payday lending status | Permitted under license (payday loan license required) Source says: "No person shall engage in the business of payday loans ... without having first obtained a license under this chapter". | Idaho State Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Lenders License required (regulated consumer loans) Source says: "unless a person is exempt ... he shall not engage in the business of: (a) Making regulated consumer loans". | Idaho State Legislature as of 2026-09-16 |
How to compare offers in Franklin
Before you share your details with a lender in Franklin:
- 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 Idaho using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.