Monticello at a glance
- Population: 1,729 people, the 128th-largest place among Utah's 255 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,820 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: roughly 5.0% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Utah places: 128th-largest of 255 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: larger than about 50% of the Census places in Utah (US Census Bureau).
- Coordinates: 37.8685, -109.3362 (US Census Bureau Gazetteer).
- Nearest larger cities: Blanding, UT (20 mi); Moab, UT (50 mi); Cortez, CO (55 mi); Telluride, CO (83 mi); Olathe, CO (89 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Dove Creek, CO (24 mi); Bluff, UT (42 mi); Naturita, CO (48 mi) (US Census Bureau).
What a personal loan costs in Monticello
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
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.
Utah lending rules that apply in Monticello
The table carries the Utah rate and licensing rules that apply to consumer loans made in Monticello.
| 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 Monticello
The steps below are worth completing first when you borrow in Monticello:
- 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.