Monroe at a glance
- Population: roughly 2,010 people; 165th of 940 places in Iowa (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 1,965 residents here (US Census Bureau).
- 2020 to 2023 change: about 2.3% more residents than the 2020 Census base (US Census Bureau).
- Rank among Iowa places: 165th in population of 940 places (US Census Bureau).
- Size percentile: about 82% of places in Iowa are smaller (US Census Bureau).
- Coordinates: 41.5189, -93.1037 (Census Gazetteer, US Census Bureau).
- Nearest larger cities within 120 miles: Pella, IA (12 mi); Newton, IA (13 mi); Colfax, IA (13 mi); Knoxville, IA (14 mi); Mitchellville, IA (17 mi) (US Census Bureau).
- Nearest smaller towns: Reasnor, IA (6 mi); Prairie City, IA (9 mi); Swan, IA (11 mi) (US Census Bureau).
What a personal loan costs in Monroe
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Iowa lending rules that apply in Monroe
Read the table as the compliance picture for a lender serving Monroe: label, sourced figure, publisher and date.
| 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 Monroe
Before you share your details with a lender in Monroe:
- 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.