Cement City at a glance
- Population: 413 people, the 457th-largest place among Michigan's 533 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 421 residents here (US Census Bureau).
- 2020 to 2023 change: population fell about 1.9% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Michigan places: the 457th-largest of 533 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 14% of Michigan's places have fewer residents (US Census Bureau).
- Coordinates: 42.0684, -84.3276 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Brooklyn, MI (5 mi); Addison, MI (6 mi); Onsted, MI (8 mi); Hanover, MI (12 mi); North Adams, MI (12 mi) (US Census Bureau populations).
- Nearest smaller towns: Clayton, MI (15 mi); Allen, MI (24 mi); Montgomery, MI (32 mi) — US Census Bureau populations.
What a personal loan costs in Cement City
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Michigan lending rules that apply in Cement City
Read the table as the compliance picture for a lender serving Cement City: label, sourced figure, publisher and date.
| 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 Cement City
Run through this list before signing anything in Cement City:
- 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.