Florence at a glance
- Population: the Census estimates 4,753 residents, ranking 65th of 299 places in Mississippi (Vintage 2023).
- 2020 Census base: 4,570 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: an increase of about 4.0% since the 2020 count (US Census Bureau).
- Rank among Mississippi places: 65th by size among 299 communities (US Census Bureau).
- Size percentile: it exceeds roughly 78% of Mississippi's Census places by population (US Census Bureau).
- Coordinates: mapped at 32.1556, -90.1225 by the US Census Bureau Gazetteer.
- Nearest larger cities: Richland, MS (6 mi); Pearl, MS (8 mi); Byram, MS (10 mi); Brandon, MS (11 mi); Jackson, MS (12 mi); each population is a US Census Bureau estimate.
- Nearest smaller communities: Terry, MS (11 mi); Braxton, MS (13 mi); D'Lo, MS (17 mi) (Census populations).
What a personal loan costs in Florence
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
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.
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.
Mississippi lending rules that apply in Florence
The Mississippi rate caps and licensing rules that reach Florence are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Florence
A few practical steps will make the process in Florence less costly:
- 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.