Mona at a glance
- Population: about 1,935 residents, ranking 124th of 255 Census places in Utah (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 1,749 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up about 10.6% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Utah places: 124th out of 255 Census places (US Census Bureau).
- Size percentile: roughly 51% of Utah's places have fewer residents (US Census Bureau).
- Coordinates: 39.8118, -111.8415 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Nephi, UT (7 mi); Santaquin, UT (11 mi); Elk Ridge, UT (16 mi); Payson, UT (16 mi); Salem, UT (19 mi) (US Census Bureau).
- Smaller places nearby: Rocky Ridge, UT (8 mi); Goshen, UT (10 mi); Genola, UT (14 mi), per US Census Bureau estimates.
What a personal loan costs in Mona
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Utah lending rules that apply in Mona
Read the table as the compliance picture for a lender serving Mona: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer lenders under the Utah Consumer Credit Code (Title 70C) must file a Consumer Credit Notification via NMLS Source says: Entities subject to the UCCC's notification requirement must file a Consumer Credit Notification (CCN) through the Nationwide Multistate Licensing System (NMLS). | Utah Department of Financial Institutions (DFI) as of 2026-09-16 |
| State lending regulator | Utah Department of Financial Institutions (DFI) Source says: The Department of Financial Institutions regulates 19 banks, 22 credit unions, 17 industrial banks and 1 trust company. | Utah Department of Financial Institutions (DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | No general cap — parties may agree to any rate; 10% per annum legal rate if no rate is specified (Utah Code § 15-1-1) Source says: The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest for the contract | Utah State Legislature as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit lenders must register with the Utah DFI (Utah Code Title 7, ch. 23) Source says: It is unlawful for a person to engage in the business of cashing checks or the business of deferred deposit lending in Utah | Utah State Legislature as of 2026-09-16 |
How to compare offers in Mona
Run through this list before signing anything in Mona:
- 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 Utah using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.