Ely at a glance
- Population: a Census-estimated 3,907, placing it 14th among Nevada's 19 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 3,926 (US Census Bureau).
- 2020 to 2023 change: down about 0.5% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Nevada places: 14th in population of 19 places (US Census Bureau).
- Size percentile: ahead of around 26% of Nevada places in population terms (US Census Bureau).
- Coordinates: it sits at 39.2649, -114.8709 in the US Census Bureau Gazetteer.
- Nearest larger cities: West Wendover, NV (110 mi); Elko, NV (119 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Wendover, UT (110 mi); Caliente, NV (114 mi); Milford, UT (117 mi) (Census populations).
What a personal loan costs in Ely
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Nevada lending rules that apply in Ely
Each row below is a Nevada rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | No cap on agreed rates (NRS 99.050); absent a written contract, legal rate = prime rate + 2% (NRS 99.040) Source says: "parties may agree for the payment of any rate of interest on money due or to become due on any contract" | Nevada Legislature (Nevada Revised Statutes) as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit loan services must be licensed under NRS 604A Source says: "shall not operate a check-cashing service, deferred deposit loan service, high-interest loan service or title loan service unless the person is licensed with the Commissioner" | Nevada Legislature (Nevada Revised Statutes) as of 2026-09-16 |
| Small-loan / installment lender licensing | Installment loan business requires a license from the Commissioner (NRS 675.060) Source says: "No person may engage in the business of lending in this State without first having obtained a license from the Commissioner pursuant to this chapter" | Nevada Legislature (Nevada Revised Statutes) as of 2026-09-16 |
| State lending regulator | Nevada Financial Institutions Division (FID), Department of Business and Industry Source says: "Protects Nevada consumers and strengthens our state's economy by licensing, examining, and supervising banks, credit unions, money transmitters, and related financial services." | Nevada Financial Institutions Division (Department of Business and Industry) as of 2026-09-16 |
| Legal rate when no written contract (NRS 99.040) | Prime rate at the largest Nevada bank + 2% (prime rate 6.75% as of July 1, 2026) Source says: "interest must be allowed at a rate equal to the prime rate at the largest bank in Nevada ... plus 2 percent" | Nevada Financial Institutions Division (Department of Business and Industry) as of 2026-09-16 |
How to compare offers in Ely
The order below is a sensible way to approach a loan in Ely:
- 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 Nevada using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.