Cleveland at a glance
- Population: 10,401 residents, the 41st-largest of 299 places in Mississippi (US Census Bureau, Vintage 2023).
- 2020 Census base: 11,200 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 7.1% lower than the 2020 Census base (US Census Bureau).
- Rank among Mississippi places: 41st largest of 299 (US Census Bureau).
- Size percentile: ahead of around 86% of Mississippi places in population terms (US Census Bureau).
- Coordinates: it sits at 33.7440, -90.7285 in the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Greenville, MS (31 mi); Clarksdale, MS (32 mi); Greenwood, MS (34 mi); Grenada, MS (53 mi); Oxford, MS (80 mi) (US Census Bureau populations).
- Smaller places close by: Renova, MS (3 mi); Boyle, MS (3 mi); Merigold, MS (7 mi) (US Census Bureau).
What a personal loan costs in Cleveland
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
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.
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 Cleveland
Each row below is a Mississippi rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Cleveland
The order below is a sensible way to approach a loan in Cleveland:
- 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.