Lathrop at a glance
- Population: 2,267 (US Census Bureau, Vintage 2023 subcounty estimate), the 223rd-largest of 937 places in Missouri.
- 2020 Census base: 2,266 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: no meaningful change since the 2020 count (US Census Bureau).
- Rank among Missouri places: 223rd in population of 937 places (US Census Bureau).
- Size percentile: about 76% of places in Missouri are smaller (US Census Bureau).
- Coordinates: 39.5618, -94.3199 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Lawson, MO (10 mi); Cameron, MO (13 mi); Kearney, MO (14 mi); Excelsior Springs, MO (16 mi); Smithville, MO (18 mi) (US Census Bureau).
- Nearest smaller communities: Turney, MO (5 mi); Holt, MO (8 mi); Plattsburg, MO (8 mi) (Census populations).
What a personal loan costs in Lathrop
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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.
Missouri lending rules that apply in Lathrop
Each row below is a Missouri rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lathrop
A few practical steps will make the process in Lathrop less costly:
- 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.