Mount Ida at a glance
- Population: 1,005 — 185th in Arkansas, which has 500 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 995 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: an increase of about 1.0% since the 2020 count (US Census Bureau).
- Rank among Arkansas places: 185th-largest of 500 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: larger than about 63% of the Census places in Arkansas (US Census Bureau).
- Coordinates: mapped at 34.5492, -93.6299 by the US Census Bureau Gazetteer.
- Nearest larger cities: Glenwood, AR (16 mi); Hot Springs, AR (33 mi); Murfreesboro, AR (33 mi); Mena, AR (35 mi); Waldron, AR (36 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Norman, AR (7 mi); Black Springs, AR (8 mi); Oden, AR (10 mi) (Census populations).
What a personal loan costs in Mount Ida
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
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 payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Arkansas lending rules that apply in Mount Ida
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 Mount Ida
The order below is a sensible way to approach a loan in Mount Ida:
- 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.