- Payday loans in Montrose follow Missouri law (RSMo 408.500, 408.505 and 408.506).
- Borrowing $300 at the state maximum costs Up to 75% of the loan over its whole life, including renewals.
- The nearest larger city is Raymore, about 46 miles away.
Montrose at a glance
| Montrose | |
|---|---|
| Population (2024 Census estimate) | 392 |
| Change since 2020 | +1.8% (growing) |
| County | Henry County |
| Size rank among 608 Missouri places we cover | 522nd |
| Nearest larger city | Raymore (about 46 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Other towns within 25 miles | 13 (about 22,964 residents) |
| Typical payday APR statewide (CRL 2023) | 652% |
Payday lending in Montrose follows Missouri state law. Lenders that serve Montrose, in a store or online, must be licensed by the Missouri Division of Finance.
Credit unions near Montrose
NCUA data (June 2026) shows no credit union headquartered in Montrose or Henry County. Many credit unions have branches in other towns or accept members online. Use the NCUA’s Credit Union Locator to find one near you.
Only federal credit unions can offer payday alternative loans (PALs), capped at 28% APR; state-chartered credit unions often have their own small-loan products. Membership rules apply, and only main offices are listed here; find branches near you with the NCUA Credit Union Locator. See how PALs work.
Payday loan rules that apply in Montrose
The main Missouri rules for a payday loan in Montrose: maximum loan: $500; loan term: 14 to 31 days; cost cap: interest and fees capped at 75% of the initial loan, including all renewals. See the full Missouri payday loan rules.
What a $300 loan costs in Montrose
At Missouri’s maximum fee, borrowing $300 costs Up to 75% of the loan over its whole life, including renewals. Statewide, the typical APR on a $400 payday loan was 652% (Center for Responsible Lending, June 2023). Check any offer with our payday loan calculator.
Other help in Henry County before you borrow
- Call or text 211 for help with rent, utilities and food in Henry County.
- Ask a federal credit union about a PAL: $200–$2,000 at no more than 28% APR (how PALs work).
- Check your bank app for a small-dollar loan or early pay (bank options).
- Try a cash advance app if you have direct deposit (apps compared).
Towns near Montrose
The nearest larger city is Raymore, about 46 miles away. See all 608 Missouri cities.
Need cash before payday?Send one free request to our lender network. We are not a lender; offers and rates come from lenders.
Request a loanFrequently asked questions
Are payday loans legal in Montrose?
Yes. Payday loans are legal in Montrose under Missouri state law, and lenders must be licensed by the Missouri Division of Finance.
How much does a payday loan cost in Montrose?
At Missouri’s maximum fee, borrowing $300 costs Up to 75% of the loan over its whole life, including renewals. The typical statewide APR was 652% in 2023.
Where is the nearest credit union to Montrose?
NCUA data shows no credit union headquartered in Montrose or its county. Use the NCUA credit union locator to find branches and online credit unions.
Sources
- U.S. Census Bureau — City and town population totals, Vintage 2024
- U.S. Census Bureau — 2024 Gazetteer files (place locations)
- NCUA — Credit union call report data, June 2026 (FOICU)
- Missouri Division of Finance — Payday lenders
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary