Monona at a glance
- Population: the Census estimates 1,465 residents, ranking 212th of 940 places in Iowa (Vintage 2023).
- 2020 Census base: 1,473 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 0.5% below the 2020 Census base (US Census Bureau).
- Rank among Iowa places: 212th in population of 940 places (US Census Bureau).
- Size percentile: about 77% of Iowa's Census places are smaller (US Census Bureau).
- Coordinates: it sits at 43.0498, -91.3911 in the US Census Bureau Gazetteer.
- Nearest larger cities: Postville, IA (9 mi); Prairie du Chien, WI (13 mi); Waukon, IA (16 mi); West Union, IA (22 mi); Guttenberg, IA (23 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Luana, IA (3 mi); Farmersburg, IA (6 mi); St. Olaf, IA (9 mi), each a US Census place.
What a personal loan costs in Monona
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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.
Iowa lending rules that apply in Monona
The table lists the Iowa rules that apply to a loan made in Monona, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Monona
These steps are the ones that most affect the offer you receive in Monona:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.