Olney Springs at a glance
- Population: 294 — 219th in Colorado, which has 270 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 309 residents here (US Census Bureau).
- 2020 to 2023 change: a decline of roughly 4.9% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Colorado places: 219th out of 270 Census places (US Census Bureau).
- Size percentile: roughly 19% of Colorado's places have fewer residents (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 38.1663, -103.9445.
- Nearest larger cities: Fowler, CO (5 mi); Manzanola, CO (6 mi); Ordway, CO (11 mi); Rocky Ford, CO (15 mi); Boone, CO (18 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Crowley, CO (5 mi); Sugar City, CO (16 mi); Cheraw, CO (24 mi) (Census populations).
What a personal loan costs in Olney Springs
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Colorado lending rules that apply in Olney Springs
The table lists the Colorado rules that apply to a loan made in Olney Springs, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | UCCC finance-charge ceilings: 12% per year on non-supervised consumer loans; supervised loans 36% on the first $1,000, 21% on $1,000–$3,000, 15% above $3,000 (or 21% flat); 21% on revolving accounts Source says: "not exceeding twelve percent per year on the unpaid balance of the amount financed"; "Thirty-six percent per year on that part of the unpaid balances of the amount financed that is one thousand dollars or less"; "Twenty-one percent per year on the unpaid balances of the amount financed". | Colorado General Assembly — C.R.S. § 5-2-201 (Colorado Revised Statutes 2024, Title 5) as of 2026-09-16 |
| Payday lending status | Permitted but capped at 36% APR (Proposition 111, effective February 1, 2019) Source says: "a finance charge for each deferred deposit loan or payday loan that must not exceed an annual percentage rate of thirty-six percent". | Colorado General Assembly — C.R.S. § 5-3.1-105 (Deferred Deposit Loan Act) as of 2026-09-16 |
| Small-loan / installment lender licensing | Supervised lender license required from the UCCC Administrator (master license required for more than one place of business); deferred deposit lenders must hold a supervised lender's license Source says: "if a supervised lender has more than one place of business, they must obtain a master license"; "no person shall engage in the business of deferred deposit loans without having first obtained a supervised lender's license" (C.R.S. § 5-3.1-116). | Colorado Attorney General — Uniform Consumer Credit Code licensing as of 2026-09-16 |
| State lending regulator | Colorado Attorney General's Office — Consumer Credit Unit (Administrator of the Uniform Consumer Credit Code) Source says: "The Consumer Credit Unit regulates (through licensure/registration programs) companies and individuals involved in consumer lending"; it "licenses non-bank lenders such as finance companies and payday lenders". | Colorado Attorney General — Consumer Protection Section as of 2026-09-16 |
How to compare offers in Olney Springs
Before you share your details with a lender in Olney Springs:
- 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 Colorado using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.