Prescott at a glance
- Population: about 3,011, 101st by size in Arkansas of 500 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 3,100 residents here (US Census Bureau).
- 2020 to 2023 change: roughly 2.9% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Arkansas places: 101st out of 500 Census places (US Census Bureau).
- Size percentile: ahead of around 80% of Arkansas places in population terms (US Census Bureau).
- Coordinates: it sits at 33.8043, -93.3912 in the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Hope, AR (15 mi); Nashville, AR (28 mi); Arkadelphia, AR (29 mi); Camden, AR (35 mi); Magnolia, AR (38 mi) (US Census Bureau populations).
- Smaller places nearby: Emmet, AR (7 mi); Perrytown, AR (11 mi); Blevins, AR (12 mi), per US Census Bureau estimates.
What a personal loan costs in Prescott
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Arkansas lending rules that apply in Prescott
The Arkansas rate caps and licensing rules that reach Prescott are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Prescott
The order below is a sensible way to approach a loan in Prescott:
- 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.