Lake City at a glance
- Population: about 2,628 residents, ranking 109th of 500 Census places in Arkansas (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 2,324 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 13.1% more residents than the 2020 Census base (US Census Bureau).
- Rank among Arkansas places: 109th of the state's 500 Census places (US Census Bureau).
- Size percentile: larger than about 78% of the Census places in Arkansas (US Census Bureau).
- Coordinates: 35.8194, -90.4539 (Census Gazetteer, US Census Bureau).
- Nearest larger cities within 120 miles: Brookland, AR (9 mi); Trumann, AR (11 mi); Jonesboro, AR (13 mi); Paragould, AR (16 mi); Manila, AR (17 mi) (US Census Bureau).
- Nearest smaller communities: Black Oak, AR (5 mi); Bay, AR (7 mi); Monette, AR (8 mi) (Census populations).
What a personal loan costs in Lake City
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.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Arkansas lending rules that apply in Lake City
Read the table as the compliance picture for a lender serving Lake City: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Not permitted — all storefront payday lending eliminated; the Attorney General has worked to eliminate all forms of payday lending since 2008 Source says: "the Attorney General's office has worked to eliminate all forms of payday lending in Arkansas"; "all storefront payday loan operations in Arkansas have been shut down". | Arkansas Attorney General — Consumer Protection Division as of 2026-09-16 |
| Small-loan / installment lender licensing | See the latest published figure value_text left null: the State Bank Department does not publish a consumer small-loan license rate schedule that could be verified; storefront payday lending has been eliminated (see Payday lending status). See the linked regulator page for the licensee categories it supervises. | Arkansas State Bank Department as of 2026-09-16 |
| State lending regulator | Arkansas State Bank Department Source says: "The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas". | Arkansas State Bank Department as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 17% per annum for loans not made by or to governmental units or by federally insured depository institutions (Amendment 89, effective January 1, 2011) Source says: "shall not exceed seventeen percent (17%) per annum". | Arkansas Legislature — Arkansas Constitution, Amendment 89, § 3 (proposed by H.J.R. 1004 of 2009) as of 2026-09-16 |
How to compare offers in Lake City
Before you commit to a personal loan in Lake City, work through these steps:
- 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 Arkansas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.