Reed at a glance
- Population: a Census-estimated 118, placing it 431st among Arkansas's 500 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 128 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a loss of about 7.8% since the 2020 count (US Census Bureau).
- Rank among Arkansas places: 431st-largest of 500 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 14% of places in Arkansas rank below it by population (US Census Bureau).
- Coordinates: 33.7017, -91.4458 (Census Gazetteer, US Census Bureau).
- Nearest larger cities (within 120 miles): Tillar, AR (1 mi); Winchester, AR (5 mi); McGehee, AR (6 mi); Dermott, AR (12 mi); Dumas, AR (13 mi) (US Census Bureau populations).
- Smaller places close by: Fountain Hill, AR (33 mi); Banks, AR (48 mi); Alligator, MS (49 mi) (US Census Bureau).
What a personal loan costs in Reed
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Arkansas lending rules that apply in Reed
The table lists the Arkansas rules that apply to a loan made in Reed, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Reed
The order below is a sensible way to approach a loan in Reed:
- 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.