Independence at a glance
- Population: the Census estimates 112 residents, ranking 254th of 255 places in Utah (Vintage 2023).
- 2020 Census base: 126 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: a loss of about 11.1% since the 2020 count (US Census Bureau).
- Rank among Utah places: 254th of 255 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 0% of the places in Utah (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 40.4108, -111.2957.
- Nearest larger cities: Wallsburg, UT (7 mi); Daniel, UT (7 mi); Charleston, UT (9 mi); Heber, UT (10 mi); Midway, UT (12 mi) (Census populations, approximate straight-line distance).
- Nearest smaller places: Scofield, UT (48 mi); Opal, WY (107 mi); Granger, WY (107 mi) (US Census Bureau estimates).
What a personal loan costs in Independence
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Independence
Read the table as the compliance picture for a lender serving Independence: label, sourced figure, publisher and date.
| 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 Independence
Run through this list before signing anything in Independence:
- 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.