Beacon at a glance
- Population: 431, the 470th-largest community in Iowa out of 940 (US Census Bureau, Vintage 2023).
- 2020 Census base: 435 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: population fell about 0.9% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Iowa places: the 470th-largest of 940 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 50% of the Census places in Iowa (US Census Bureau).
- Coordinates: it sits at 41.2761, -92.6810 in the US Census Bureau Gazetteer.
- Nearest larger cities: Oskaloosa, IA (2 mi); University Park, IA (3 mi); Eddyville, IA (8 mi); New Sharon, IA (13 mi); Fremont, IA (14 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Leighton, IA (7 mi); Keomah Village, IA (8 mi); Bussey, IA (12 mi), each a US Census place.
What a personal loan costs in Beacon
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
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.
Iowa lending rules that apply in Beacon
The Iowa rate caps and licensing rules that reach Beacon are listed below, each with its source and retrieval date.
| 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 Beacon
The steps below are worth completing first when you borrow in Beacon:
- 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.