Monrovia at a glance
- Population: the Census estimates 36,768 residents, ranking 214th of 482 places in California (Vintage 2023).
- 2020 Census base: the 2020 count put the population at 37,938 (US Census Bureau).
- 2020 to 2023 change: a loss of about 3.1% since the 2020 count (US Census Bureau).
- Rank among California places: 214th out of 482 Census places (US Census Bureau).
- Size percentile: ahead of around 56% of California places in population terms (US Census Bureau).
- Coordinates: 34.1640 / -117.9846, per the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Arcadia, CA (4 mi); Azusa, CA (4 mi); Baldwin Park, CA (6 mi); El Monte, CA (7 mi); Covina, CA (8 mi) (US Census Bureau populations).
- Nearest smaller towns: Bradbury, CA (1 mi); Duarte, CA (2 mi); Sierra Madre, CA (4 mi) — US Census Bureau populations.
What a personal loan costs in Monrovia
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
California lending rules that apply in Monrovia
Each row below is a California rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Permitted under the California Deferred Deposit Transaction Law; max $300 face amount; fee ≤15%; term up to 31 days Source says: "The face amount of the check shall not exceed three hundred dollars ($300)"; "A fee for a deferred deposit transaction shall not exceed 15 percent of the face amount of the check" (Financial Code § 23036). | California Legislature — Financial Code § 23035 (and § 23036) as of 2026-09-16 |
| Small-loan / installment lender licensing | Finance lender/broker license required from the Commissioner of Financial Protection and Innovation (California Financing Law) Source says: "No person shall engage in the business of a finance lender or broker without obtaining a license from the commissioner". | California Legislature — Financial Code § 22100 as of 2026-09-16 |
| State lending regulator | California Department of Financial Protection and Innovation (DFPI) Source says: "“Department” means the Department of Financial Protection and Innovation". | California Legislature — Financial Code § 23001 as of 2026-09-16 |
| 36% rate cap on mid-size consumer loans (AB 539) | Consumer loans of $2,500 to under $10,000: cap of 36% per annum simple interest plus the Federal Funds Rate Source says: "charges at a rate not exceeding an annual simple interest rate of 36 percent per annum plus the Federal Funds Rate". | California Legislature — Financial Code § 22304.5 as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum default; written contracts may set up to 10% per annum for consumer-purpose loans Source says: "shall be 7 percent per annum"; "for use primarily for personal, family, or household purposes, at a rate not exceeding 10 percent per annum". | California Legislature — California Constitution, Article XV, § 1 as of 2026-09-16 |
How to compare offers in Monrovia
A few practical steps will make the process in Monrovia 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 California using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.