Lee's Summit at a glance
- Population: 104,184 residents, the 6th-largest of 937 places in Missouri (US Census Bureau, Vintage 2023).
- 2020 Census base: 101,123 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: roughly 3.0% higher than at the 2020 Census (US Census Bureau).
- Rank among Missouri places: 6th by size among 937 communities (US Census Bureau).
- Size percentile: it exceeds roughly 99% of Missouri's Census places by population (US Census Bureau).
- Coordinates: 38.9216, -94.3848 (US Census Bureau Gazetteer).
- Nearest larger cities: Independence, MO (11 mi); Overland Park, KS (17 mi); Kansas City, MO (17 mi); Olathe, KS (24 mi); Kansas City, KS (24 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller communities: Unity Village, MO (3 mi); Greenwood, MO (6 mi); Raytown, MO (6 mi) (Census populations).
What a personal loan costs in Lee's Summit
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Missouri lending rules that apply in Lee's Summit
The table carries the Missouri rate and licensing rules that apply to consumer loans made in Lee's Summit.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 10% per annum, or the higher published 'market rate' (RSMo § 408.030) Source says: "a rate of interest not exceeding ten percent per annum on money due or to become due upon any contract" | Missouri Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed — unsecured loans of $500 or less require a license from the Director of the Division of Finance (RSMo § 408.500) Source says: "in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance" | Missouri Revisor of Statutes as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer credit lenders licensed and regulated by the Division of Finance's consumer credit section (Chapters 367 and 408, RSMo) Source says: "The consumer credit section of the Missouri Division of Finance is responsible for licensing and regulating various types of consumer finance companies" | Missouri Division of Finance as of 2026-09-16 |
| State lending regulator | Missouri Division of Finance (Department of Commerce and Insurance) Source says: "We regulate state-chartered banks, trust companies, consumer credit facilities, mortgage brokers, and savings and loan institutions" | Missouri Division of Finance as of 2026-09-16 |
| Additional loan fee cap (30+ day loans) | Up to 10% of principal, capped at $100 (RSMo § 408.140) Source says: "a fee, not to exceed ten percent of the principal amount loaned not to exceed one hundred dollars may be charged by the lender" | Missouri Revisor of Statutes as of 2026-09-16 |
How to compare offers in Lee's Summit
Run through this list before signing anything in Lee's Summit:
- 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 Missouri using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.