Monroe City at a glance
- Population: 2,655 — 203rd in Missouri, which has 937 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,652 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: up about 0.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Missouri places: 203rd by size among 937 communities (US Census Bureau).
- Size percentile: about 78% of Missouri's Census places are smaller (US Census Bureau).
- Coordinates: 39.6544 latitude, -91.7325 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Palmyra, MO (15 mi); Hannibal, MO (18 mi); Quincy, IL (27 mi); Vandalia, MO (27 mi); Canton, MO (35 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Hunnewell, MO (7 mi); Stoutsville, MO (10 mi); Rensselaer, MO (10 mi), each a US Census place.
What a personal loan costs in Monroe City
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Missouri lending rules that apply in Monroe City
Each row below is a Missouri rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Monroe City
A few practical steps will make the process in Monroe City 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.