Clarksdale at a glance
- Population: 13,850, the 28th-largest community in Mississippi out of 299 (US Census Bureau, Vintage 2023).
- 2020 Census base: 14,890 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: down roughly 7.0% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Mississippi places: 28th by size among 299 communities (US Census Bureau).
- Size percentile: about 91% of Mississippi's Census places are smaller (US Census Bureau).
- Coordinates: 34.1938 / -90.5686, per the US Census Bureau Gazetteer.
- Nearest larger cities: Hernando, MS (56 mi); Oxford, MS (60 mi); Horn Lake, MS (60 mi); Southaven, MS (62 mi); Greenville, MS (63 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Lyon, MS (2 mi); Jonestown, MS (11 mi); Alligator, MS (11 mi) — US Census Bureau populations.
What a personal loan costs in Clarksdale
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Mississippi lending rules that apply in Clarksdale
The table carries the Mississippi rate and licensing rules that apply to consumer loans made in Clarksdale.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Mississippi Department of Banking and Consumer Finance (DBCF) Source says: "The Mississippi Department of Banking and Consumer Finance's (DBCF) mission is to regulate, supervise and safeguard financial institutions chartered and licensed in Mississippi" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Delayed-deposit (payday) fee caps | $20 per $100 advanced on checks ≤$250; $21.95 per $100 on checks over $250 (DBCF rule) Source says: "Delayed deposit transaction: $20.00 per $100.00 advanced for checks $250.00 and under" | Mississippi Secretary of State (DBCF administrative regulations) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: the maximum finance charge for licensed small-loan lenders is set by Miss. Code § 75-17-21, which § 75-67-119 references as the limit; no retrievable official page published the current figure for direct verification. | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Payday lending status | Legal and licensed — check cashers (delayed-deposit/payday transactions) are licensed consumer-finance industries regulated by DBCF (Miss. Code § 75-67-501 et seq.) Source says: "These industries include Money Transmitter, Small Loan, Check Cashers, Pawnbroker, Title Pledge, Consumer Loan Broker" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Small-loan / installment lender licensing | Small loan license required (Small Loan Regulatory Law; Miss. Code § 75-67-105) Source says: "No person shall engage in the business of lending money ... without being the holder of a valid and subsisting license" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
How to compare offers in Clarksdale
Run through this list before signing anything in Clarksdale:
- 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 Mississippi using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.