Pekin at a glance
- Population: 72, the 249th-largest community in North Dakota out of 355 (US Census Bureau, Vintage 2023).
- 2020 Census base: 72 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: stable between the 2020 base and the 2023 estimate (US Census Bureau).
- Rank among North Dakota places: 249th out of 355 Census places (US Census Bureau).
- Size percentile: ahead of around 30% of North Dakota places in population terms (US Census Bureau).
- Coordinates: 47.7919 / -98.3278, per the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Tolna, ND (6 mi); McVille, ND (7 mi); Binford, ND (16 mi); Lakota, ND (17 mi); Aneta, ND (18 mi) (US Census Bureau populations).
- Nearest smaller towns: Warwick, ND (18 mi); McHenry, ND (19 mi); Niagara, ND (25 mi) (US Census Bureau).
What a personal loan costs in Pekin
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
North Dakota lending rules that apply in Pekin
The North Dakota rate caps and licensing rules that reach Pekin are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | North Dakota Department of Financial Institutions (NDDFI) Source says: "The Department also licenses and regulates Money Brokers... Deferred Presentment Service Providers (Payday Lenders), Collection Agencies, Debt Settlement Service Providers, and Money Transmitters." | North Dakota Department of Financial Institutions as of 2026-09-16 |
| Usury penalties (state-specific rule) | Usury forfeits all interest plus 25% of principal; charging usurious interest is a class B misdemeanor. Source says: "shall be deemed a forfeiture of the entire interest" and "a forfeiture of twenty-five percent of the principal" (N.D.C.C. 47-14-10); usury is a class B misdemeanor (47-14-11). | North Dakota Legislative Branch as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Formula ceiling: 6-month U.S. Treasury bill average + 5.5 percentage points, never less than 7%; NDDFI-published rate for September 2026: 9.204%. Source says: "The rate is equal to five and one-half percent (5.5%) higher than the current cost of money" and "the maximum allowable interest rate ceiling may not be less than seven (7) percent" (NDDFI Usury Rate page; September 2026 rate 9.204%). | North Dakota Department of Financial Institutions as of 2026-09-16 |
| Payday lending status | Legal for licensed deferred presentment service providers; fee capped at 20% of amount advanced; max $500 per transaction; $600 aggregate outstanding per customer. Source says: "A licensee may charge a fee for the deferred presentment service, not to exceed twenty percent of the amount paid to the customer" (N.D.C.C. 13-08-12); "may not disburse more than five hundred dollars to the customer in a deferred presentment service transaction" (13-08-12.3). | North Dakota Legislative Branch as of 2026-09-16 |
| Small-loan / installment lender licensing | Money broker license required to engage in money brokering (arranging/providing loans); issued by the commissioner of financial institutions. Source says: "may not engage in money brokering in the state of North Dakota without a money broker license issued by the commissioner" (N.D.C.C. 13-04.1-02). | North Dakota Legislative Branch as of 2026-09-16 |
How to compare offers in Pekin
Before you commit to a personal loan in Pekin, work through these steps:
- 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 North Dakota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.