Shannon City at a glance
- Population: 72 — 863rd in Iowa, which has 940 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 73 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 1.4% lower than the 2020 Census base (US Census Bureau).
- Rank among Iowa places: 863rd out of 940 Census places (US Census Bureau).
- Size percentile: roughly 8% of Iowa's places have fewer residents (US Census Bureau).
- Coordinates: 40.8988, -94.2637 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Arispe, IA (4 mi); Tingley, IA (5 mi); Diagonal, IA (7 mi); Afton, IA (10 mi); Creston, IA (12 mi) — straight-line distances, US Census Bureau populations.
- Smaller places close by: Ellston, IA (9 mi); Beaconsfield, IA (13 mi); Thayer, IA (14 mi) (US Census Bureau).
What a personal loan costs in Shannon City
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Iowa lending rules that apply in Shannon City
The sourced rows below are the rules a licensed lender must follow when lending in Iowa, and therefore in Shannon City.
| Rule | Detail | Source |
|---|---|---|
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
How to compare offers in Shannon City
Before you commit to a personal loan in Shannon City, 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.