Prescott at a glance
- Population: 47,757 (US Census Bureau, Vintage 2023 subcounty estimate), the 23rd-largest of 91 places in Arizona.
- 2020 Census base: 45,905 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 4.0% growth over the 2020 Census base (US Census Bureau).
- Rank among Arizona places: 23rd out of 91 Census places (US Census Bureau).
- Size percentile: larger than about 75% of the Census places in Arizona (US Census Bureau).
- Coordinates: it sits at 34.5922, -112.4467 in the US Census Bureau Gazetteer.
- Nearest larger cities: Prescott Valley, AZ (7 mi); Peoria, AZ (56 mi); Flagstaff, AZ (62 mi); Surprise, AZ (64 mi); Scottsdale, AZ (71 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Chino Valley, AZ (10 mi); Dewey-Humboldt, AZ (12 mi); Jerome, AZ (22 mi), each a US Census place.
What a personal loan costs in Prescott
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Arizona lending rules that apply in Prescott
The table carries the Arizona rate and licensing rules that apply to consumer loans made in Prescott.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 10% per year default; any rate may be agreed in writing (other than medical debt) Source says: "interest shall be at the rate of ten percent a year, unless a different rate is contracted for in writing". | Arizona State Legislature — A.R.S. § 44-1201 as of 2026-09-16 |
| Payday lending status | Not permitted — payday lending authorization expired June 30, 2010; DIFI no longer licenses payday lenders; consumer loans over 36% APR illegal since July 1, 2010 Source says: "The law allowing payday loans in Arizona expired on June 30, 2010. DIFI no longer licenses payday lenders." | Arizona Department of Insurance and Financial Institutions (DIFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lender license required from the deputy director (A.R.S. Title 6, Chapter 5); at least $25,000 in assets readily available per licensed office; license not transferable Source says: "shall not engage in the business of a consumer lender without first being licensed as a consumer lender". | Arizona State Legislature — A.R.S. § 6-603 as of 2026-09-16 |
| State lending regulator | Arizona Department of Insurance and Financial Institutions (DIFI) Source says: "The Arizona Department of Insurance and Financial Institutions (DIFI)". | Arizona Department of Insurance and Financial Institutions (DIFI) as of 2026-09-16 |
| Consumer lender loan rate caps (§ 6-632) | Consumer loans: 36% per year on principal up to $3,000; for larger loans, 36% on the first $3,000 and 24% above $3,000 Source says: "a consumer loan rate of thirty-six per cent"; "a consumer loan rate of twenty-four per cent on that part of the principal amount greater than three thousand dollars". | Arizona State Legislature — A.R.S. § 6-632 as of 2026-09-16 |
How to compare offers in Prescott
The steps below are worth completing first when you borrow 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 Arizona using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.