Odessa at a glance
- Population: a Census-estimated 5,638, placing it 121st among Missouri's 937 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 5,596 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: roughly 0.8% higher than at the 2020 Census (US Census Bureau).
- Rank among Missouri places: 121st largest of 937 (US Census Bureau).
- Size percentile: ahead of around 87% of Missouri places in population terms (US Census Bureau).
- Coordinates: 38.9994 / -93.9664, per the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Oak Grove, MO (9 mi); Grain Valley, MO (13 mi); Blue Springs, MO (16 mi); Richmond, MO (19 mi); Warrensburg, MO (21 mi) (US Census Bureau).
- Smaller towns nearby: Lake Lafayette, MO (3 mi); Bates City, MO (5 mi); Mayview, MO (8 mi) (US Census Bureau).
What a personal loan costs in Odessa
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Missouri lending rules that apply in Odessa
The table carries the Missouri rate and licensing rules that apply to consumer loans made in Odessa.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 10% per annum, or the higher published 'market rate' (RSMo § 408.030) Source says: "a rate of interest not exceeding ten percent per annum on money due or to become due upon any contract" | Missouri Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed — unsecured loans of $500 or less require a license from the Director of the Division of Finance (RSMo § 408.500) Source says: "in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance" | Missouri Revisor of Statutes as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer credit lenders licensed and regulated by the Division of Finance's consumer credit section (Chapters 367 and 408, RSMo) Source says: "The consumer credit section of the Missouri Division of Finance is responsible for licensing and regulating various types of consumer finance companies" | Missouri Division of Finance as of 2026-09-16 |
| State lending regulator | Missouri Division of Finance (Department of Commerce and Insurance) Source says: "We regulate state-chartered banks, trust companies, consumer credit facilities, mortgage brokers, and savings and loan institutions" | Missouri Division of Finance as of 2026-09-16 |
| Additional loan fee cap (30+ day loans) | Up to 10% of principal, capped at $100 (RSMo § 408.140) Source says: "a fee, not to exceed ten percent of the principal amount loaned not to exceed one hundred dollars may be charged by the lender" | Missouri Revisor of Statutes as of 2026-09-16 |
How to compare offers in Odessa
The order below is a sensible way to approach a loan in Odessa:
- 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 Missouri using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.