Raytown at a glance
- Population: roughly 29,097 people; 23rd of 937 places in Missouri (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 30,007 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: a loss of about 3.0% since the 2020 count (US Census Bureau).
- Rank among Missouri places: 23rd-largest of 937 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 98% of places in Missouri rank below it by population (US Census Bureau).
- Coordinates: 38.9943 latitude, -94.4615 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Lee's Summit, MO (6 mi); Independence, MO (9 mi); Kansas City, MO (10 mi); Blue Springs, MO (10 mi); Leawood, KS (11 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Unity Village, MO (4 mi); Lake Tapawingo, MO (8 mi); Grandview, MO (8 mi) (Census populations).
What a personal loan costs in Raytown
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Missouri lending rules that apply in Raytown
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Raytown
Here is a short checklist for comparing personal loans in Raytown:
- 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.