Grace at a glance
- Population: 945 people, the 90th-largest place among Idaho's 197 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 921 (US Census Bureau).
- 2020 to 2023 change: up roughly 2.6% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Idaho places: 90th of the state's 197 Census places (US Census Bureau).
- Size percentile: it is larger than about 54% of the places in Idaho (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 42.5752, -111.7298.
- Nearest larger cities (within 120 miles): Soda Springs, ID (9 mi); Montpelier, ID (28 mi); Preston, ID (34 mi); Malad City, ID (38 mi); Franklin, ID (39 mi) (US Census Bureau populations).
- Nearest smaller communities: Bancroft, ID (13 mi); Lava Hot Springs, ID (15 mi); Georgetown, ID (20 mi) (Census populations).
What a personal loan costs in Grace
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
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.
Idaho lending rules that apply in Grace
The Idaho rate caps and licensing rules that reach Grace are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Grace
Here is a short checklist for comparing personal loans in Grace:
- 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.