Spencer at a glance
- Population: about 29, 195th by size in Idaho of 197 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 28 (US Census Bureau).
- 2020 to 2023 change: about 3.6% more residents than the 2020 Census base (US Census Bureau).
- Rank among Idaho places: 195th in population of 197 places (US Census Bureau).
- Size percentile: it is larger than about 1% of the places in Idaho (US Census Bureau).
- Coordinates: latitude 44.3678, longitude -112.1843 (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Dubois, ID (14 mi); Lima, MT (27 mi); Parker, ID (35 mi); St. Anthony, ID (37 mi); Mud Lake, ID (39 mi) (US Census Bureau).
- Smaller places nearby: Drummond, ID (49 mi); Clayton, ID (109 mi), per US Census Bureau estimates.
What a personal loan costs in Spencer
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Idaho lending rules that apply in Spencer
The sourced rows below are the rules a licensed lender must follow when lending in Idaho, and therefore in Spencer.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 12% per annum legal rate (when no written contract fixes a different rate) Source says: "interest is allowed at the rate of twelve cents (12¢) on the hundred by the year". | Idaho State Legislature as of 2026-09-16 |
| Payday lending status | Permitted under license (payday loan license required) Source says: "No person shall engage in the business of payday loans ... without having first obtained a license under this chapter". | Idaho State Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Lenders License required (regulated consumer loans) Source says: "unless a person is exempt ... he shall not engage in the business of: (a) Making regulated consumer loans". | Idaho State Legislature as of 2026-09-16 |
| State lending regulator | Idaho Department of Finance (IDOF) Source says: "Safeguarding the financial health of Idahoans through the appropriate oversight of diverse financial institutions, the education and protection of consumers". | Idaho Department of Finance as of 2026-09-16 |
| Idaho Credit Code finance-charge rule | No statutory maximum finance-charge rate — rate as agreed by the parties (Idaho Credit Code) Source says: "the rate of finance charge shall be that which is agreed upon between the parties to the transaction". | Idaho State Legislature as of 2026-09-16 |
How to compare offers in Spencer
Run through this list before signing anything in Spencer:
- 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 Idaho using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.