Elk Ridge at a glance
- Population: 4,925 (US Census Bureau, Vintage 2023 subcounty estimate), the 95th-largest of 255 places in Utah.
- 2020 Census base: 4,709 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: up about 4.6% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Utah places: 95th by size among 255 communities (US Census Bureau).
- Size percentile: it is larger than about 63% of the places in Utah (US Census Bureau).
- Coordinates: mapped at 40.0104, -111.6780 by the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Salem, UT (3 mi); Payson, UT (4 mi); Santaquin, UT (7 mi); Spanish Fork, UT (7 mi); Mapleton, UT (9 mi) (US Census Bureau populations).
- Smaller places nearby: Woodland Hills, UT (1 mi); Genola, UT (9 mi); Rocky Ridge, UT (10 mi), per US Census Bureau estimates.
What a personal loan costs in Elk Ridge
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Utah lending rules that apply in Elk Ridge
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 |
|---|---|---|
| Payday lending status | Legal; deferred deposit lenders must register with the Utah DFI (Utah Code Title 7, ch. 23) Source says: It is unlawful for a person to engage in the business of cashing checks or the business of deferred deposit lending in Utah | Utah State Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer lenders under the Utah Consumer Credit Code (Title 70C) must file a Consumer Credit Notification via NMLS Source says: Entities subject to the UCCC's notification requirement must file a Consumer Credit Notification (CCN) through the Nationwide Multistate Licensing System (NMLS). | Utah Department of Financial Institutions (DFI) as of 2026-09-16 |
| State lending regulator | Utah Department of Financial Institutions (DFI) Source says: The Department of Financial Institutions regulates 19 banks, 22 credit unions, 17 industrial banks and 1 trust company. | Utah Department of Financial Institutions (DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | No general cap — parties may agree to any rate; 10% per annum legal rate if no rate is specified (Utah Code § 15-1-1) Source says: The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest for the contract | Utah State Legislature as of 2026-09-16 |
How to compare offers in Elk Ridge
Run through this list before signing anything in Elk Ridge:
- 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 Utah using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.