Forest at a glance
- Population: 5,279 (US Census Bureau, Vintage 2023 subcounty estimate), the 61st-largest of 299 places in Mississippi.
- 2020 Census base: 5,432 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: a loss of about 2.8% since the 2020 count (US Census Bureau).
- Rank among Mississippi places: 61st of 299 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 80% of places in Mississippi rank below it by population (US Census Bureau).
- Coordinates: it sits at 32.3598, -89.4759 in the US Census Bureau Gazetteer.
- Nearest larger cities: Brandon, MS (31 mi); Flowood, MS (35 mi); Philadelphia, MS (35 mi); Canton, MS (36 mi); Pearl, MS (36 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Lake, MS (10 mi); Morton, MS (11 mi); Walnut Grove, MS (16 mi) (US Census Bureau).
What a personal loan costs in Forest
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Mississippi lending rules that apply in Forest
The table lists the Mississippi rules that apply to a loan made in Forest, each with the regulator that published it.
| 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 Forest
The order below is a sensible way to approach a loan in Forest:
- 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.