Cheraw at a glance
- Population: about 233 residents, ranking 231st of 270 Census places in Colorado (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 238 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 2.1% below the 2020 Census base (US Census Bureau).
- Rank among Colorado places: 231st of 270 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 14% of Colorado's Census places are smaller (US Census Bureau).
- Coordinates: it sits at 38.1077, -103.5110 in the US Census Bureau Gazetteer.
- Nearest larger cities: La Junta, CO (9 mi); Swink, CO (9 mi); Sugar City, CO (12 mi); Rocky Ford, CO (12 mi); Ordway, CO (15 mi); each population is a US Census Bureau estimate.
- Smaller places close by: Crowley, CO (20 mi); Haswell, CO (30 mi); Kim, CO (60 mi) (US Census Bureau).
What a personal loan costs in Cheraw
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.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Colorado lending rules that apply in Cheraw
The table lists the Colorado rules that apply to a loan made in Cheraw, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Permitted but capped at 36% APR (Proposition 111, effective February 1, 2019) Source says: "a finance charge for each deferred deposit loan or payday loan that must not exceed an annual percentage rate of thirty-six percent". | Colorado General Assembly — C.R.S. § 5-3.1-105 (Deferred Deposit Loan Act) as of 2026-09-16 |
| Small-loan / installment lender licensing | Supervised lender license required from the UCCC Administrator (master license required for more than one place of business); deferred deposit lenders must hold a supervised lender's license Source says: "if a supervised lender has more than one place of business, they must obtain a master license"; "no person shall engage in the business of deferred deposit loans without having first obtained a supervised lender's license" (C.R.S. § 5-3.1-116). | Colorado Attorney General — Uniform Consumer Credit Code licensing as of 2026-09-16 |
| State lending regulator | Colorado Attorney General's Office — Consumer Credit Unit (Administrator of the Uniform Consumer Credit Code) Source says: "The Consumer Credit Unit regulates (through licensure/registration programs) companies and individuals involved in consumer lending"; it "licenses non-bank lenders such as finance companies and payday lenders". | Colorado Attorney General — Consumer Protection Section as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | UCCC finance-charge ceilings: 12% per year on non-supervised consumer loans; supervised loans 36% on the first $1,000, 21% on $1,000–$3,000, 15% above $3,000 (or 21% flat); 21% on revolving accounts Source says: "not exceeding twelve percent per year on the unpaid balance of the amount financed"; "Thirty-six percent per year on that part of the unpaid balances of the amount financed that is one thousand dollars or less"; "Twenty-one percent per year on the unpaid balances of the amount financed". | Colorado General Assembly — C.R.S. § 5-2-201 (Colorado Revised Statutes 2024, Title 5) as of 2026-09-16 |
How to compare offers in Cheraw
The order below is a sensible way to approach a loan in Cheraw:
- 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 Colorado using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.