Personal loans in Loma, ND

Loma, ND is a small community in North Dakota with a Census-estimated population of 8, making it the 351st-largest of 355 places in the state. Its population was essentially flat between the 2020 Census base and the 2023 estimate. Borrowers in Loma compare personal loans the same way borrowers do anywhere in North Dakota: the lender prices the loan from your credit history, income and debt load, not from your city.

By the Loansloth Editorial Team · Last updated 2026-09-16

What is specific to borrowing in Loma

Population: 8 (US Census Bureau, Vintage 2023 subcounty estimate) — the 351st-largest place of 355 in North Dakota.
Population trend: Its population was essentially flat between the 2020 Census base and the 2023 estimate.
Size percentile: larger than about 1% of the Census places in North Dakota.
Location: 48.6377, -98.5257 (US Census Bureau Gazetteer).
Nearest larger cities: Nekoma (8 mi); Alsen (8 mi); Hampden (9 mi); Langdon (11 mi); Munich (14 mi). Larger metros often have more walk-in branches, but online lenders serve Loma on the same terms.
Nearest smaller towns: Calio (19 mi); Hannah (24 mi); Perth (43 mi).

North Dakota lending rules that apply in Loma

Rule	Detail	Source
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
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

How a personal loan works in Loma

A personal loan in Loma 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. Because the payment is fixed, the total cost is predictable up front — which is the main advantage over a credit card, where the balance revolves and the payoff date is open-ended. The two numbers that matter are the APR (which includes fees, not just interest) and the term. A longer term lowers the monthly payment but raises the total interest you pay.

Before you apply in Loma

Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
Run the numbers with our personal loan calculator so you know the payment before a lender tells you.
Pre-qualify with at least three lenders and compare the APR, not the interest rate.
Check the lender is licensed in North Dakota using the regulator listed above.
Read the disclosure for origination fees and any prepayment penalty before you sign.

Compare personal loan offers Run the numbers first

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Frequently asked questions

Can I get a personal loan with bad credit in Loma?

Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Loma are the same as elsewhere in North Dakota.

How much can I borrow with a personal loan in Loma?

Most personal loans range from about $1,000 to $50,000, but the amount you are approved for depends on the lender and your income and credit. Use our personal loan calculator to model the payment before you apply.

Does a personal loan in Loma require collateral?

Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.

Will shopping for a loan in Loma hurt my credit?

Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Nekoma, ND — population 30
Hampden, ND — population 27
Alsen, ND — population 32
Langdon, ND — population 1,847
Edmore, ND — population 138
Wales, ND — population 9
Munich, ND — population 186
Fairdale, ND — population 27