East Jordan at a glance
- Population: the Census estimates 2,250 residents, ranking 236th of 533 places in Michigan (Vintage 2023).
- 2020 Census base: 2,244 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: roughly 0.3% higher than at the 2020 Census (US Census Bureau).
- Rank among Michigan places: 236th out of 533 Census places (US Census Bureau).
- Size percentile: ahead of around 56% of Michigan places in population terms (US Census Bureau).
- Coordinates: it sits at 45.1522, -85.1304 in the US Census Bureau Gazetteer.
- Nearest larger cities: Boyne City, MI (7 mi); Charlevoix, MI (13 mi); Petoskey, MI (16 mi); Gaylord, MI (24 mi); Traverse City, MI (36 mi), each a US Census place with its estimated population.
- Smaller places close by: Ellsworth, MI (6 mi); Central Lake, MI (9 mi); Boyne Falls, MI (11 mi) (US Census Bureau).
What a personal loan costs in East Jordan
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment 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.
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 East Jordan
Read the table as the compliance picture for a lender serving East Jordan: label, sourced figure, publisher and date.
| 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 East Jordan
Before you share your details with a lender in East Jordan:
- 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.