Okolona at a glance
- Population: about 98, 452nd by size in Arkansas of 500 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 98 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: under a tenth of a percent either way (US Census Bureau Vintage 2023 estimate).
- Rank among Arkansas places: 452nd out of 500 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 10% of Arkansas's Census places by population (US Census Bureau).
- Coordinates: 34.0005 latitude, -93.3376 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Antoine, AR (5 mi); Delight, AR (10 mi); Gurdon, AR (12 mi); Prescott, AR (14 mi); Blevins, AR (16 mi), each a US Census place with its estimated population.
- Smaller places nearby: Gum Springs, AR (15 mi); Whelen Springs, AR (17 mi); McCaskill, AR (18 mi), per US Census Bureau estimates.
What a personal loan costs in Okolona
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Arkansas lending rules that apply in Okolona
Read the table as the compliance picture for a lender serving Okolona: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Okolona
Before you commit to a personal loan in Okolona, work through these steps:
- 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.