Santa Monica at a glance
- Population: 89,922 — 90th in California, which has 482 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 93,074 (US Census Bureau).
- 2020 to 2023 change: a loss of about 3.4% since the 2020 count (US Census Bureau).
- Rank among California places: 90th by size among 482 communities (US Census Bureau).
- Size percentile: about 81% of California's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 34.0109, -118.4982.
- Nearest larger cities: Los Angeles, CA (5 mi); Inglewood, CA (10 mi); Torrance, CA (15 mi); Burbank, CA (16 mi); Compton, CA (17 mi); US Census Bureau population estimates.
- Smaller places close by: Culver City, CA (6 mi); Beverly Hills, CA (7 mi); El Segundo, CA (8 mi) (US Census Bureau).
What a personal loan costs in Santa Monica
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
California lending rules that apply in Santa Monica
The California rate caps and licensing rules that reach Santa Monica are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Permitted under the California Deferred Deposit Transaction Law; max $300 face amount; fee ≤15%; term up to 31 days Source says: "The face amount of the check shall not exceed three hundred dollars ($300)"; "A fee for a deferred deposit transaction shall not exceed 15 percent of the face amount of the check" (Financial Code § 23036). | California Legislature — Financial Code § 23035 (and § 23036) as of 2026-09-16 |
| Small-loan / installment lender licensing | Finance lender/broker license required from the Commissioner of Financial Protection and Innovation (California Financing Law) Source says: "No person shall engage in the business of a finance lender or broker without obtaining a license from the commissioner". | California Legislature — Financial Code § 22100 as of 2026-09-16 |
| State lending regulator | California Department of Financial Protection and Innovation (DFPI) Source says: "“Department” means the Department of Financial Protection and Innovation". | California Legislature — Financial Code § 23001 as of 2026-09-16 |
| 36% rate cap on mid-size consumer loans (AB 539) | Consumer loans of $2,500 to under $10,000: cap of 36% per annum simple interest plus the Federal Funds Rate Source says: "charges at a rate not exceeding an annual simple interest rate of 36 percent per annum plus the Federal Funds Rate". | California Legislature — Financial Code § 22304.5 as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum default; written contracts may set up to 10% per annum for consumer-purpose loans Source says: "shall be 7 percent per annum"; "for use primarily for personal, family, or household purposes, at a rate not exceeding 10 percent per annum". | California Legislature — California Constitution, Article XV, § 1 as of 2026-09-16 |
How to compare offers in Santa Monica
These steps are the ones that most affect the offer you receive in Santa Monica:
- 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 California using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.