Sheridan at a glance
- Population: roughly 761 people; 67th of 127 places in Montana (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 695 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: roughly 9.5% higher than at the 2020 Census (US Census Bureau).
- Rank among Montana places: 67th of the state's 127 Census places (US Census Bureau).
- Size percentile: it is larger than about 47% of the places in Montana (US Census Bureau).
- Coordinates: 45.4588, -112.1946 (US Census Bureau Gazetteer).
- Nearest larger cities: Ennis, MT (24 mi); Dillon, MT (27 mi); Whitehall, MT (29 mi); Three Forks, MT (43 mi); Manhattan, MT (50 mi) (Census populations, approximate straight-line distance).
- Nearest smaller places: Twin Bridges, MT (9 mi); Virginia City, MT (17 mi); Walkerville, MT (43 mi) (US Census Bureau estimates).
What a personal loan costs in Sheridan
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Montana lending rules that apply in Sheridan
The sourced rows below are the rules a licensed lender must follow when lending in Montana, and therefore in Sheridan.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer loan license required under the Montana Consumer Loan Act (32-5-101); licensing through NMLS Source says: "A consumer loan license is needed to engage in business as defined in the Montana Consumer Loan Act" | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
| State lending regulator | Montana Division of Banking and Financial Institutions (BFID), Department of Administration Source says: "The Montana Division of Banking and Financial Institutions (Division) does all of its licensing through the Nationwide Multistate Licensing System (NMLS)." | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
| Deferred deposit loan license requirement (MCA 31-1-705) | A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department Source says: "A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department." | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Greater of 15% or prime rate + 6 percentage points per year (written agreement); regulated lenders exempt Source says: "Parties may agree in writing to the payment of any rate of interest that does not exceed the greater of 15%" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit lenders must be licensed; fee capped at 36% per annum Source says: "A licensee may not charge a fee for making or carrying each deferred deposit loan authorized by this part that exceeds 36% per annum" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
How to compare offers in Sheridan
Before you commit to a personal loan in Sheridan, 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 Montana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.