Red Lodge at a glance
- Population: 2,610 people, the 27th-largest place among Montana's 127 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 2,257 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 15.6% growth over the 2020 Census base (US Census Bureau).
- Rank among Montana places: the 27th-largest of 127 (US Census Bureau, 2023 estimate).
- Size percentile: it exceeds roughly 79% of Montana's Census places by population (US Census Bureau).
- Coordinates: 45.1933, -109.2501 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (120-mile radius): Powell, WY (38 mi); Laurel, MT (40 mi); Cody, WY (47 mi); Billings, MT (53 mi); Livingston, MT (71 mi) (US Census Bureau).
- Nearest smaller towns: Bearcreek, MT (5 mi); Bridger, MT (18 mi); Fromberg, MT (22 mi) (US Census Bureau).
What a personal loan costs in Red Lodge
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Montana lending rules that apply in Red Lodge
Read the table as the compliance picture for a lender serving Red Lodge: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Montana Division of Banking and Financial Institutions (BFID), Department of Administration Source says: "The Montana Division of Banking and Financial Institutions (Division) does all of its licensing through the Nationwide Multistate Licensing System (NMLS)." | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
| Deferred deposit loan license requirement (MCA 31-1-705) | A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department Source says: "A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department." | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Greater of 15% or prime rate + 6 percentage points per year (written agreement); regulated lenders exempt Source says: "Parties may agree in writing to the payment of any rate of interest that does not exceed the greater of 15%" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit lenders must be licensed; fee capped at 36% per annum Source says: "A licensee may not charge a fee for making or carrying each deferred deposit loan authorized by this part that exceeds 36% per annum" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer loan license required under the Montana Consumer Loan Act (32-5-101); licensing through NMLS Source says: "A consumer loan license is needed to engage in business as defined in the Montana Consumer Loan Act" | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
How to compare offers in Red Lodge
The steps below are worth completing first when you borrow in Red Lodge:
- 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 Montana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.