Personal loans in Drake, ND

When North Dakota caps or restricts a product, lenders either change the terms or withdraw it from Drake as from the rest of the state. With 277 residents, Drake outranks about 65% of the communities in North Dakota.

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

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Drake is a small community of about 277 residents, and a personal loan taken out here is governed by North Dakota statute. The 2020 count to the 2023 estimate shows about 4.8% decline in Drake. Work out your debt-to-income ratio first; lenders weigh it heavily, and Drake's 277 residents are no exception. A larger market lies at Harvey, ND about 23 miles away.

Local context for Drake

What follows is Drake's place in the Census record, alongside the North Dakota rules that govern a personal loan made here.

Population: a Census-estimated 277, 126th among North Dakota's 355 places (Vintage 2023).
Population trend: About 4.8% below the 2020 Census base.
Absolute change: 14 residents lost between 2020 and 2023.
Size percentile: roughly 65% of North Dakota places rank below Drake.
Density: roughly 140 residents per square mile, spread over 2.0 sq mi of land.
By land area: Drake ranks 42nd among North Dakota's 355 places, at 2.0 sq mi.
Water: Drake holds about 0.05 square miles, the 25th-largest water area in North Dakota.
State population share: Drake accounts for about 0.0% of everyone in North Dakota.
Nationally: Drake is the 15,388th-largest of 19,457 Census places in the dataset.
Growth rank: Drake ranks 331st among North Dakota's 355 places for the 2020-to-2023 change.
Versus North Dakota: the state average change is -1.2%, while Drake moved 4.8%.
Density rank: Drake places 275th among North Dakota's places by people per square mile.
Against the state median: Drake runs about 140 residents per square mile, where the North Dakota median is 352.
Location: 47.9227 / -100.3744, per the US Census Bureau Gazetteer.
Nearest larger cities: Harvey (23 mi); Velva (27 mi); Towner (29 mi); McClusky (30 mi); Sawyer (33 mi). Larger metros often have more branches, but online lenders reach Drake on the same terms.
Smaller communities close by: Anamoose (7 mi); Balfour (8 mi); Kief (8 mi), each with its own Census population profile.
Within a 50-mile radius: 24 smaller Census places.
Within 100 miles: 45 places are larger than Drake.

Inside a Drake personal loan

Drake is a small community of about 277 people, and the personal loans written here are mostly unsecured — no collateral, so the lender leans on your credit file. A lender serving Drake's 277 residents must disclose the APR and finance charge in writing before you sign. Shortening the term on a Drake loan raises the monthly payment but cuts the interest; lengthening it does the reverse.

Steps to take before a Drake loan

Complete these steps first when you borrow in Drake (277 residents):

Order your free credit reports and dispute anything inaccurate — it is the cheapest way to move the rate you are offered.
Price the payment first with our personal loan calculator before any lender quotes you.
Shop at least three lenders and judge them on APR and total cost.
Confirm the North Dakota licence with the regulator named above before committing.
Weigh a shorter term's higher payment against the interest it saves.
Do not borrow more than the expense calls for, even if a lender approves a larger amount.
Write down the purpose of the loan and your repayment plan before you apply.

The process is identical across North Dakota; what changes is your credit file, not the fact that Drake holds 277 people.

Where Drake sits in North Dakota

Set beside North Dakota's 355 places, Drake ranks 126th by population and holds about 0.0% of the state total. On the 2020-to-2023 trend, Drake stands 331st among North Dakota's 355 places — roughly the 7th percentile. At about 140 people per square mile, Drake is the 275th most densely settled place in North Dakota. Within 50 miles sit 24 smaller Census places, alongside the 13 that are larger.

Borrowing reach in Drake

Drake is a lightly settled community of about 277 people, with 13 larger places inside a 50-mile radius. A North Dakota licence lets a lender serve Drake without a local office, so branch density does not change what its 277 residents are offered. The nearest larger city, Harvey, ND about 23 miles away.

The North Dakota lending rules that reach Drake

North Dakota has no separate rate rule for Drake; the sourced rows below are what reach every lender that serves its 277 people.

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
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

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Common questions

What are my options in Drake if my credit is poor?

Borrowing is still possible, but expect a higher APR and a smaller approved amount. Lenders that accept lower scores hold statewide licences, so what is open to you in Drake is the same as anywhere in North Dakota.

What loan size can I expect in Drake?

Most personal loans sit somewhere between $1,000 and $50,000, though the figure you are approved for turns on the lender, your income and your credit. Model the monthly payment first with our personal loan calculator.

Do I have to pledge anything to borrow in Drake?

For an unsecured personal loan, no — there is nothing to pledge. A secured loan, such as home equity or one secured by a vehicle, does require collateral, and default puts that asset at risk.

Does comparing loans in Drake cost me credit score points?

Not during pre-qualification, which normally uses a soft pull and leaves your score alone. Submitting a full application triggers a hard inquiry, which can trim a few points briefly.

Nearby places

Anamoose, ND — population 217
Kief, ND — population 8
Balfour, ND — population 15
Martin, ND — population 61
Karlsruhe, ND — population 85
Butte, ND — population 68
Bergen, ND — population 11
Balta, ND — population 60