Laurel at a glance
- Population: 7,193 (US Census Bureau, Vintage 2023 subcounty estimate), the 13th-largest of 127 places in Montana.
- 2020 Census base: the 2020 Census recorded 7,220 residents here (US Census Bureau).
- 2020 to 2023 change: down roughly 0.4% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Montana places: the 13th-largest of 127 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 90% of places in Montana rank below it by population (US Census Bureau).
- Coordinates: 45.6740, -108.7768 (US Census Bureau Gazetteer).
- Nearest larger cities: Billings, MT (13 mi); Cody, WY (81 mi); Livingston, MT (86 mi); Sheridan, WY (107 mi); Bozeman, MT (110 mi) — straight-line distances, US Census Bureau populations.
- Smaller places close by: Joliet, MT (16 mi); Fromberg, MT (20 mi); Columbus, MT (23 mi) (US Census Bureau).
What a personal loan costs in Laurel
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Montana lending rules that apply in Laurel
The Montana rate caps and licensing rules that reach Laurel are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Montana Division of Banking and Financial Institutions (BFID), Department of Administration Source says: "The Montana Division of Banking and Financial Institutions (Division) does all of its licensing through the Nationwide Multistate Licensing System (NMLS)." | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
| Deferred deposit loan license requirement (MCA 31-1-705) | A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department Source says: "A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department." | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Greater of 15% or prime rate + 6 percentage points per year (written agreement); regulated lenders exempt Source says: "Parties may agree in writing to the payment of any rate of interest that does not exceed the greater of 15%" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit lenders must be licensed; fee capped at 36% per annum Source says: "A licensee may not charge a fee for making or carrying each deferred deposit loan authorized by this part that exceeds 36% per annum" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer loan license required under the Montana Consumer Loan Act (32-5-101); licensing through NMLS Source says: "A consumer loan license is needed to engage in business as defined in the Montana Consumer Loan Act" | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
How to compare offers in Laurel
A few practical steps will make the process in Laurel 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 Montana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.