Elkader at a glance
- Population: the Census estimates 1,197 residents, ranking 240th of 940 places in Iowa (Vintage 2023).
- 2020 Census base: 1,214 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 1.4% below the 2020 Census base (US Census Bureau).
- Rank among Iowa places: 240th largest of 940 (US Census Bureau).
- Size percentile: about 74% of Iowa's Census places are smaller (US Census Bureau).
- Coordinates: 42.8574 / -91.4028, per the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Monona, IA (13 mi); Guttenberg, IA (16 mi); Postville, IA (18 mi); Prairie du Chien, WI (19 mi); Fayette, IA (20 mi) (US Census Bureau populations).
- Nearest smaller communities: St. Olaf, IA (5 mi); Farmersburg, IA (7 mi); Volga, IA (8 mi), each a US Census place.
What a personal loan costs in Elkader
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
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 Elkader
The table carries the Iowa rate and licensing rules that apply to consumer loans made in Elkader.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Elkader
These steps are the ones that most affect the offer you receive in Elkader:
- 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.