Montrose at a glance
- Population: about 232 residents, ranking 356th of 500 Census places in Arkansas (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 245 residents here (US Census Bureau).
- 2020 to 2023 change: population fell about 5.3% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Arkansas places: 356th out of 500 Census places (US Census Bureau).
- Size percentile: about 29% of Arkansas's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 33.2989, -91.4964.
- Nearest larger cities (120-mile radius): Portland, AR (4 mi); Lake Village, AR (12 mi); Dermott, AR (16 mi); Wilmot, AR (17 mi); Hamburg, AR (18 mi) (US Census Bureau).
- Smaller towns nearby: Parkdale, AR (13 mi); Fountain Hill, AR (21 mi); Reed, AR (28 mi) (US Census Bureau).
What a personal loan costs in Montrose
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Arkansas lending rules that apply in Montrose
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 17% per annum for loans not made by or to governmental units or by federally insured depository institutions (Amendment 89, effective January 1, 2011) Source says: "shall not exceed seventeen percent (17%) per annum". | Arkansas Legislature — Arkansas Constitution, Amendment 89, § 3 (proposed by H.J.R. 1004 of 2009) as of 2026-09-16 |
| Payday lending status | Not permitted — all storefront payday lending eliminated; the Attorney General has worked to eliminate all forms of payday lending since 2008 Source says: "the Attorney General's office has worked to eliminate all forms of payday lending in Arkansas"; "all storefront payday loan operations in Arkansas have been shut down". | Arkansas Attorney General — Consumer Protection Division as of 2026-09-16 |
| Small-loan / installment lender licensing | See the latest published figure value_text left null: the State Bank Department does not publish a consumer small-loan license rate schedule that could be verified; storefront payday lending has been eliminated (see Payday lending status). See the linked regulator page for the licensee categories it supervises. | Arkansas State Bank Department as of 2026-09-16 |
| State lending regulator | Arkansas State Bank Department Source says: "The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas". | Arkansas State Bank Department as of 2026-09-16 |
How to compare offers in Montrose
A few practical steps will make the process in Montrose 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 Arkansas using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.