Almont at a glance
- Population: about 2,847 residents, ranking 208th of 533 Census places in Michigan (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 2,832 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 0.5% growth over the 2020 Census base (US Census Bureau).
- Rank among Michigan places: the 208th-largest of 533 (US Census Bureau, 2023 estimate).
- Size percentile: it exceeds roughly 61% of Michigan's Census places by population (US Census Bureau).
- Coordinates: mapped at 42.9208, -83.0435 by the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Imlay City, MI (7 mi); Romeo, MI (8 mi); Oxford, MI (13 mi); Richmond, MI (17 mi); Rochester, MI (17 mi) (US Census Bureau populations).
- Nearest smaller places: Dryden, MI (4 mi); Leonard, MI (6 mi); Capac, MI (8 mi) (US Census Bureau estimates).
What a personal loan costs in Almont
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Michigan lending rules that apply in Almont
Each row below is a Michigan rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Regulated lender interest/finance charge cap | 25% per annum (Credit Reform Act, MCL 445.1854(1)) Source says: "may charge, collect, and receive any rate of interest or finance charge for an extension of credit not to exceed 25% per annum" | Michigan Legislature as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum maximum by written agreement; 5% legal rate (MCL 438.31) Source says: "it shall be lawful for the parties to stipulate in writing for the payment of any rate of interest, not exceeding 7% per annum" | Michigan Legislature as of 2026-09-16 |
| Payday lending status | Legal and licensed — deferred presentment service transactions (2005 PA 244; MCL 487.2121 et seq.), licensed and regulated by DIFS Source says: "AN ACT to regulate the business of providing deferred presentment service transactions; to require the licensing of providers of deferred presentment service transactions" | Michigan Legislature as of 2026-09-16 |
| Small-loan / installment lender licensing | License required from the commissioner to make regulated loans (Regulatory Loan Act, MCL 493.1 et seq.) Source says: "a person shall not engage in the business of making loans of money ... without first obtaining a license from the commissioner" | Michigan Legislature as of 2026-09-16 |
| State lending regulator | Michigan Department of Insurance and Financial Services (DIFS) Source says: ""Department" means the department of insurance and financial services" | Michigan Legislature as of 2026-09-16 |
How to compare offers in Almont
Before you share your details with a lender in Almont:
- 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 Michigan using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.