Lake Lafayette at a glance
- Population: 297, the 571st-largest community in Missouri out of 937 (US Census Bureau, Vintage 2023).
- 2020 Census base: 278 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: up roughly 6.8% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Missouri places: 571st of 937 by population (US Census Bureau, Vintage 2023).
- Size percentile: it exceeds roughly 39% of Missouri's Census places by population (US Census Bureau).
- Coordinates: 38.9492, -93.9681 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Odessa, MO (3 mi); Oak Grove, MO (9 mi); Lone Jack, MO (13 mi); Wellington, MO (13 mi); Grain Valley, MO (14 mi) (US Census Bureau).
- Nearest smaller communities: Bates City, MO (6 mi); Mayview, MO (10 mi); Napoleon, MO (14 mi), each a US Census place.
What a personal loan costs in Lake Lafayette
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Missouri lending rules that apply in Lake Lafayette
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Additional loan fee cap (30+ day loans) | Up to 10% of principal, capped at $100 (RSMo § 408.140) Source says: "a fee, not to exceed ten percent of the principal amount loaned not to exceed one hundred dollars may be charged by the lender" | Missouri Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per annum, or the higher published 'market rate' (RSMo § 408.030) Source says: "a rate of interest not exceeding ten percent per annum on money due or to become due upon any contract" | Missouri Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed — unsecured loans of $500 or less require a license from the Director of the Division of Finance (RSMo § 408.500) Source says: "in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance" | Missouri Revisor of Statutes as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer credit lenders licensed and regulated by the Division of Finance's consumer credit section (Chapters 367 and 408, RSMo) Source says: "The consumer credit section of the Missouri Division of Finance is responsible for licensing and regulating various types of consumer finance companies" | Missouri Division of Finance as of 2026-09-16 |
| State lending regulator | Missouri Division of Finance (Department of Commerce and Insurance) Source says: "We regulate state-chartered banks, trust companies, consumer credit facilities, mortgage brokers, and savings and loan institutions" | Missouri Division of Finance as of 2026-09-16 |
How to compare offers in Lake Lafayette
The steps below are worth completing first when you borrow in Lake Lafayette:
- 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 Missouri using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.