Richmond at a glance
- Population: 5,958 (US Census Bureau, Vintage 2023 subcounty estimate), the 120th-largest of 937 places in Missouri.
- 2020 Census base: the 2020 Census recorded 6,017 residents here (US Census Bureau).
- 2020 to 2023 change: down roughly 1.0% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Missouri places: 120th out of 937 Census places (US Census Bureau).
- Size percentile: roughly 87% of places in Missouri rank below it by population (US Census Bureau).
- Coordinates: latitude 39.2754, longitude -93.9726 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Excelsior Springs, MO (15 mi); Oak Grove, MO (20 mi); Kearney, MO (21 mi); Grain Valley, MO (22 mi); Liberty, MO (24 mi) (US Census Bureau populations).
- Smaller places nearby: Henrietta, MO (3 mi); Camden, MO (6 mi); Fleming, MO (7 mi), per US Census Bureau estimates.
What a personal loan costs in Richmond
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Missouri lending rules that apply in Richmond
Read the table as the compliance picture for a lender serving Richmond: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Richmond
The steps below are worth completing first when you borrow in Richmond:
- 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.