Locust Grove at a glance
- Population: 1,392 — 170th in Oklahoma, which has 590 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,376 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a gain of roughly 1.2% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Oklahoma places: 170th out of 590 Census places (US Census Bureau).
- Size percentile: about 71% of Oklahoma's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 36.1982, -95.1689 by the US Census Bureau Gazetteer.
- Nearest larger cities: Chouteau, OK (9 mi); Pryor Creek, OK (11 mi); Wagoner, OK (20 mi); Inola, OK (22 mi); Tahlequah, OK (23 mi) — straight-line distances, US Census Bureau populations.
- Smaller towns nearby: Sportsmen Acres, OK (6 mi); Salina, OK (7 mi); Strang, OK (15 mi) (US Census Bureau).
What a personal loan costs in Locust Grove
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Oklahoma lending rules that apply in Locust Grove
Each row below is a Oklahoma rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Small loan rate and principal caps (state-specific rule) | Small loans: interest capped at 17% per month; maximum aggregated principal of $1,500 per customer across all licensees (CPI-adjusted). Source says: "A licensee may only charge and collect a periodic interest rate not to exceed seventeen percent (17%) per month" (59 O.S. 3150.10(B)); max aggregated principal is $1,500 (3150.10(C)). | Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 6% per annum legal rate in the absence of a contract; parties may agree to any rate authorized by law. Source says: "The legal rate of interest shall be six percent (6%) in the absence of any contract as to the rate of interest" (15 O.S. 266). | Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| Payday lending status | Prohibited since August 1, 2020: no new deferred deposit (payday) loans may be made; all Deferred Deposit Lending Act licenses terminated. Source says: "Beginning on and after August 1, 2020, no new deferred deposit loan may be entered into or transacted by a licensee or other person" and "All Deferred Deposit Lending Act licenses shall be terminated and be deemed to have expired on August 1, 2020" (59 O.S. 3101.1). | Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| Small-loan / installment lender licensing | Oklahoma Small Lender license required (Oklahoma Department of Consumer Credit); separate license per location; 59 O.S. 3150-3150.27. Source says: "no person shall engage in the business of making small loans... unless the person is licensed by the Department of Consumer Credit" (59 O.S. 3150.2). | Oklahoma State Courts Network (Oklahoma Statutes, OSCN) as of 2026-09-16 |
| State lending regulator | Oklahoma Department of Consumer Credit (OKDOCC) Source says: "The Department is responsible for the regulation of consumer credit sales and consumer loans in the State of Oklahoma." | Oklahoma Department of Consumer Credit as of 2026-09-16 |
How to compare offers in Locust Grove
A few practical steps will make the process in Locust Grove 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 Oklahoma using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.