Ridgway at a glance
- Population: the Census estimates 1,247 residents, ranking 140th of 270 places in Colorado (Vintage 2023).
- 2020 Census base: 1,180 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: population rose about 5.7% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Colorado places: 140th out of 270 Census places (US Census Bureau).
- Size percentile: larger than about 48% of the Census places in Colorado (US Census Bureau).
- Coordinates: 38.1572, -107.7546 (US Census Bureau Gazetteer).
- Nearest larger cities: Telluride, CO (15 mi); Montrose, CO (22 mi); Olathe, CO (34 mi); Delta, CO (45 mi); Orchard City, CO (47 mi); US Census Bureau population estimates.
- Nearest smaller places: Ouray, CO (10 mi); Mountain Village, CO (17 mi); Sawpit, CO (18 mi) (US Census Bureau estimates).
What a personal loan costs in Ridgway
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
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.
Colorado lending rules that apply in Ridgway
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Permitted but capped at 36% APR (Proposition 111, effective February 1, 2019) Source says: "a finance charge for each deferred deposit loan or payday loan that must not exceed an annual percentage rate of thirty-six percent". | Colorado General Assembly — C.R.S. § 5-3.1-105 (Deferred Deposit Loan Act) as of 2026-09-16 |
| Small-loan / installment lender licensing | Supervised lender license required from the UCCC Administrator (master license required for more than one place of business); deferred deposit lenders must hold a supervised lender's license Source says: "if a supervised lender has more than one place of business, they must obtain a master license"; "no person shall engage in the business of deferred deposit loans without having first obtained a supervised lender's license" (C.R.S. § 5-3.1-116). | Colorado Attorney General — Uniform Consumer Credit Code licensing as of 2026-09-16 |
| State lending regulator | Colorado Attorney General's Office — Consumer Credit Unit (Administrator of the Uniform Consumer Credit Code) Source says: "The Consumer Credit Unit regulates (through licensure/registration programs) companies and individuals involved in consumer lending"; it "licenses non-bank lenders such as finance companies and payday lenders". | Colorado Attorney General — Consumer Protection Section as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | UCCC finance-charge ceilings: 12% per year on non-supervised consumer loans; supervised loans 36% on the first $1,000, 21% on $1,000–$3,000, 15% above $3,000 (or 21% flat); 21% on revolving accounts Source says: "not exceeding twelve percent per year on the unpaid balance of the amount financed"; "Thirty-six percent per year on that part of the unpaid balances of the amount financed that is one thousand dollars or less"; "Twenty-one percent per year on the unpaid balances of the amount financed". | Colorado General Assembly — C.R.S. § 5-2-201 (Colorado Revised Statutes 2024, Title 5) as of 2026-09-16 |
How to compare offers in Ridgway
Before you commit to a personal loan in Ridgway, work through these steps:
- 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 Colorado using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.