Sprague at a glance
- Population: roughly 526 people; 237th of 281 places in Washington (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 501 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: population rose about 5.0% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Washington places: 237th-largest of 281 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: larger than about 16% of the Census places in Washington (US Census Bureau).
- Coordinates: latitude 47.3049, longitude -117.9713 (US Census Bureau Gazetteer).
- Nearest larger cities: Cheney, WA (22 mi); Medical Lake, WA (23 mi); Ritzville, WA (23 mi); St. John, WA (23 mi); Reardan, WA (26 mi); US Census Bureau population estimates.
- Nearest smaller communities: Lamont, WA (8 mi); Harrington, WA (18 mi); Malden, WA (24 mi), each a US Census place.
What a personal loan costs in Sprague
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
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.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Washington lending rules that apply in Sprague
The table carries the Washington rate and licensing rules that apply to consumer loans made in Sprague.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 12% per annum, or four points above the Federal Reserve bill rate, whichever is higher (RCW 19.52.020) Source says: any rate of interest shall be legal so long as the rate of interest does not exceed the higher of: (a) Twelve percent per annum | Washington State Legislature (RCW) as of 2026-09-16 |
| Payday lending status | Licensed; small loans capped at $700 or 30% of monthly income, max 45 days, fees 15% on first $500 and 10% above (RCW 31.45) Source says: Payday lenders must be licensed by DFI — including online lenders that do business with Washington residents. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Loan Company license required (Consumer Loan Act, RCW 31.04.035) Source says: No person may engage in any activity subject to this chapter without first obtaining and maintaining a license in accordance with this chapter. | Washington State Legislature (RCW) as of 2026-09-16 |
| State lending regulator | Washington State Department of Financial Institutions (DFI) Source says: DFI licenses and regulates financial institutions and service providers in Washington. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
How to compare offers in Sprague
The order below is a sensible way to approach a loan in Sprague:
- 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 Washington using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.