Springer at a glance
- Population: roughly 927 people; 65th of 105 places in New Mexico (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 934 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: roughly 0.7% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among New Mexico places: 65th in population of 105 places (US Census Bureau).
- Size percentile: about 38% of places in New Mexico are smaller (US Census Bureau).
- Coordinates: latitude 36.3654, longitude -104.6002 (US Census Bureau Gazetteer).
- Nearest larger cities: Angel Fire, NM (37 mi); Raton, NM (37 mi); Taos, NM (55 mi); Trinidad, CO (56 mi); Questa, NM (60 mi); US Census Bureau population estimates.
- Smaller towns nearby: Maxwell, NM (13 mi); Cimarron, NM (20 mi); Wagon Mound, NM (26 mi) (US Census Bureau).
What a personal loan costs in Springer
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the 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.
New Mexico lending rules that apply in Springer
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | New Mexico Financial Institutions Division (FID), Regulation and Licensing Department Source says: "We regulate a variety of financial institutions operating in New Mexico including:" | New Mexico Regulation and Licensing Department, Financial Institutions Division as of 2026-09-16 |
| Small loan company licensing/regulation | Small loan companies are a regulated institution category of the Financial Institutions Division Source says: "Small Loan Companies" | New Mexico Regulation and Licensing Department, Financial Institutions Division as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 15% annually absent a written contract fixing a different rate (NMSA 1978, 56-8-3) Source says: "The rate of interest, in the absence of a written contract fixing a different rate, shall be not more than fifteen percent annually" | New Mexico Compilation Commission (NMOneSource, official NMSA) as of 2026-09-16 |
| Payday lending status | Payday-style small loans capped at 36% APR (HB 132 of 2022; effective January 1, 2023; cap rises only if prime rate exceeds 10% for three consecutive months) Source says: "a permitted annual percentage rate greater than thirty-six percent, calculated pursuant to 12 CFR Part 1026" | New Mexico Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | Lenders making Bank Installment Loan Act loans (other than federally insured depositories) must be licensed under the Small Loan Act (2022 requirement) Source says: "a new requirement for lenders making loans under the BILA (other than a federally insured depository institution) to be licensed under the SLA" | New Mexico Legislature (Legislative Finance Committee fiscal impact report) as of 2026-09-16 |
How to compare offers in Springer
These steps are the ones that most affect the offer you receive in Springer:
- 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 New Mexico using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.