Hedrick at a glance
- Population: 722 people, the 360th-largest place among Iowa's 940 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 732 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.4% below the 2020 Census base (US Census Bureau).
- Rank among Iowa places: 360th in population of 940 places (US Census Bureau).
- Size percentile: roughly 62% of places in Iowa rank below it by population (US Census Bureau).
- Coordinates: 41.1713 latitude, -92.3079 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Ottumwa, IA (12 mi); Sigourney, IA (12 mi); Eddyville, IA (17 mi); Eldon, IA (18 mi); Oskaloosa, IA (19 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Martinsburg, IA (3 mi); Fremont, IA (7 mi); Hayesville, IA (7 mi) — US Census Bureau populations.
What a personal loan costs in Hedrick
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
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 Hedrick
Each row below is a Iowa rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Hedrick
These steps are the ones that most affect the offer you receive in Hedrick:
- 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.