Beaverton at a glance
- Population: 1,170 residents, the 334th-largest of 533 places in Michigan (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,154 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 1.4% more residents than the 2020 Census base (US Census Bureau).
- Rank among Michigan places: 334th of the state's 533 Census places (US Census Bureau).
- Size percentile: about 37% of Michigan's Census places are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 43.8807, -84.4877.
- Nearest larger cities (120-mile radius): Gladwin, MI (7 mi); Coleman, MI (10 mi); Clare, MI (14 mi); Harrison, MI (18 mi); Midland, MI (22 mi) (US Census Bureau).
- Nearest smaller towns: Sanford, MI (15 mi); Rosebush, MI (18 mi); Farwell, MI (19 mi) — US Census Bureau populations.
What a personal loan costs in Beaverton
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Michigan lending rules that apply in Beaverton
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Beaverton
These steps are the ones that most affect the offer you receive in Beaverton:
- 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.