Lake City at a glance
- Population: about 1,670 residents, ranking 191st of 940 Census places in Iowa (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 1,728 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 3.4% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Iowa places: 191st of the state's 940 Census places (US Census Bureau).
- Size percentile: roughly 80% of places in Iowa rank below it by population (US Census Bureau).
- Coordinates: 42.2677 latitude, -94.7311 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Rockwell City, IA (10 mi); Carroll, IA (15 mi); Sac City, IA (17 mi); Jefferson, IA (25 mi); Pocahontas, IA (33 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Lanesboro, IA (6 mi); Yetter, IA (7 mi); Auburn, IA (8 mi) (Census populations).
What a personal loan costs in Lake City
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Iowa lending rules that apply in Lake City
The Iowa rate caps and licensing rules that reach Lake City are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lake City
These steps are the ones that most affect the offer you receive in Lake City:
- 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.