Lake Park at a glance
- Population: a Census-estimated 1,158, placing it 247th among Iowa's 940 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 1,169 residents here (US Census Bureau).
- 2020 to 2023 change: a loss of about 0.9% since the 2020 count (US Census Bureau).
- Rank among Iowa places: the 247th-largest of 940 (US Census Bureau, 2023 estimate).
- Size percentile: ahead of around 74% of Iowa places in population terms (US Census Bureau).
- Coordinates: 43.4469, -95.3249 (US Census Bureau Gazetteer).
- Nearest larger cities: Spirit Lake, IA (11 mi); Arnolds Park, IA (12 mi); Milford, IA (12 mi); Lakefield, MN (18 mi); Worthington, MN (19 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Harris, IA (6 mi); Wahpeton, IA (9 mi); Round Lake, MN (10 mi), each a US Census place.
What a personal loan costs in Lake Park
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Iowa lending rules that apply in Lake Park
Read the table as the compliance picture for a lender serving Lake Park: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Lake Park
Here is a short checklist for comparing personal loans in Lake Park:
- 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.