Hillsboro at a glance
- Population: 157 residents, the 724th-largest of 940 places in Iowa (US Census Bureau, Vintage 2023).
- 2020 Census base: 161 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: population fell about 2.5% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Iowa places: 724th by size among 940 communities (US Census Bureau).
- Size percentile: about 23% of places in Iowa are smaller (US Census Bureau).
- Coordinates: 40.8372, -91.7113 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Salem, IA (5 mi); Stockport, IA (7 mi); Bonaparte, IA (10 mi); Lockridge, IA (11 mi); Mount Pleasant, IA (12 mi) (Census populations, approximate straight-line distance).
- Smaller towns nearby: Houghton, IA (6 mi); Westwood, IA (10 mi); Rome, IA (10 mi) (US Census Bureau).
What a personal loan costs in Hillsboro
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Iowa lending rules that apply in Hillsboro
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Hillsboro
Here is a short checklist for comparing personal loans in Hillsboro:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.