Steele at a glance
- Population: 1,720 (US Census Bureau, Vintage 2023 subcounty estimate), the 263rd-largest of 937 places in Missouri.
- 2020 Census base: 1,853 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 7.2% lower than the 2020 Census base (US Census Bureau).
- Rank among Missouri places: 263rd by size among 937 communities (US Census Bureau).
- Size percentile: roughly 72% of places in Missouri rank below it by population (US Census Bureau).
- Coordinates: it sits at 36.0948, -89.8621 in the US Census Bureau Gazetteer.
- Nearest larger cities: Gosnell, AR (11 mi); Blytheville, AR (11 mi); Hayti, MO (11 mi); Caruthersville, MO (12 mi); Kennett, MO (14 mi) (Census populations, approximate straight-line distance).
- Smaller places nearby: Holland, MO (3 mi); Cooter, MO (4 mi); Rives, MO (8 mi), per US Census Bureau estimates.
What a personal loan costs in Steele
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Missouri lending rules that apply in Steele
The table lists the Missouri rules that apply to a loan made in Steele, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Legal and licensed — unsecured loans of $500 or less require a license from the Director of the Division of Finance (RSMo § 408.500) Source says: "in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance" | Missouri Revisor of Statutes as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer credit lenders licensed and regulated by the Division of Finance's consumer credit section (Chapters 367 and 408, RSMo) Source says: "The consumer credit section of the Missouri Division of Finance is responsible for licensing and regulating various types of consumer finance companies" | Missouri Division of Finance as of 2026-09-16 |
| State lending regulator | Missouri Division of Finance (Department of Commerce and Insurance) Source says: "We regulate state-chartered banks, trust companies, consumer credit facilities, mortgage brokers, and savings and loan institutions" | Missouri Division of Finance as of 2026-09-16 |
| Additional loan fee cap (30+ day loans) | Up to 10% of principal, capped at $100 (RSMo § 408.140) Source says: "a fee, not to exceed ten percent of the principal amount loaned not to exceed one hundred dollars may be charged by the lender" | Missouri Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per annum, or the higher published 'market rate' (RSMo § 408.030) Source says: "a rate of interest not exceeding ten percent per annum on money due or to become due upon any contract" | Missouri Revisor of Statutes as of 2026-09-16 |
How to compare offers in Steele
The steps below are worth completing first when you borrow in Steele:
- 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 Missouri using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.